Enhancements to 1099 Processing and Reporting

 This document provides instructions for using the REAL/Easy Version 14 new 1099 processing options and reports. These are accessed from the BOS “Reports” menu.

Version 14 1099 processing and check register reports are found on the Agent tab of the Reports module. All of the functions are placed in the last column of the menu.

 There are three commands for processing the 1099’s:

• 1099/1096 Print – use this command for printing the 1099’s for distribution
• 1099 Disk – use this command for creating the IRSTAX magnetic file for diskette
• Create 1099 spreadsheet – use this command for creating a 1099 reporting spreadsheet for use with third party reporting systems.

 The remaining seven commands should be used to edit setup data as well as print summary and detailed reports for distribution along with the 1099’s.  These reports should be used throughout the year to assist the staff as well as provide detailed information to agents for their commission records.

 Printing your 1099’s

A number of options are available for 1099 printing. The program will print the 1099’s on laser forms that have 2 1099s per page. You can also “Preview” a sample with the Preview button.

 Most operators will test print the first two pages (4 1099’s) on blank paper and hold the page behind an actual 1099 form to insure that the items are positioned correctly. You can select only the first two pages when you receive the Windows printer dialog.

 Some of the printing options include:

 Agent .. Broker: Printing Agents and/or Broker (Other companies), 1099’s. The first two drop downs allow you to select everyone, or, if a reprint of a single 1099 is needed, only one agent.

Many operators will select all agents for printing first – by leaving the “Agent” drop down to “<All Agents> and selecting only the “Include:” “Independent Associates lower down on the screen.

 Paid or Closed date range: Enter the date range for the 1099’s – usually the entire year. Partial years are used in instances where payees were paid by more than one corporation and you want to process only the time range applicable. The date range entered will match the “Include Gross Amounts of:” selected below.

 Office: This applies to the “Agent” 1099’s and will enable processing by Office. This can be handy when 1099’s are to be distributed by the Office staff.

Include Gross Amounts of:

• Closed Sales – computes the 1099 amounts based on closed sales and the sales closed date.
• Paid Sales – computes the 1099 amounts based on the paid/check dates of the issued checks. (checks printed or posted with BOS).

 Include:

• Independent Associates – Your agents who receive commissions either in sales transactions or as miscellaneous checks.
• Outside Companies – Outside Brokers/Companies who you have paid/closed commissions in transactions within the commission areas 1 (co-brokers) or 2 (co-brokers and/or referrals).  In the Broker records these companies also have to be marked as requiring 1099’s.

 Include The Following Reports: Check the “1099 Miscellaneous” box

Above is a sample “Preview” or “Print” of a year 2004 1099.

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