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Creating the Magnetic Format 1099 File The “1099 Disk” option is used to create the 1099 magnetic file. The file can be created separately for Independent Associates and Outside Companies, or it can be combined by selecting both in the “Include” grouping.  The operation of the “1099 Disk” option is similar to that of printing but with the added entry of the transmitter code a couple of added options: “Options” if they apply: This is a “Second TIN Notice” or if this a “Last Filing” Magnetic File Type: Original, Replacement, or Correction. Directory Location of “IRSTAX” – the file name IRSTAX in placed in the directory (folder) entered (do not also the file name “IRSTAX, just the folder name).
The file created is usually copied to a diskette file. It is an “ASCII” or character file appearing similar to the illustration above.
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Want Everyone in your Company to Run it Like a Business? run REAL/Easy 1-800-REALEASy (1-800-732-5327) |
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