1099 Reporting Classification (1099CL)

The 1099 Reporting Classification (1099CL) page allows you to establish a 1099 Reporting Classification code that may be used by the 1099 reporting process. These codes are used on the Valid Vendor Organization and 1099 Reporting Class (VORGCL) page to establish the vendor’s classification for 1099 reporting. Six values are delivered with the baseline software. The five 1099 classifications include Individual, Corporation, Trust, Sole Proprietor, and Partnership. Each of these corresponds to a classification on the Type of Income (TINC) table. When the vendor is classified as one of these five classifications, the 1099 process can determine if the income is reportable based on the TINC setting. The last classification is Not Reportable which indicates the vendor is not reportable.