1099 Module > 1099 DIV

This extract will only pull from Revenue Check history for the DIV product code. The extract for this option requires specialized setup in the Check Stub module. If the setup is not complete, this menu item is not available. There is no difference in the setup required between the 1099-DIV and the 1099-INT except the code.

#17 Rev 1099-DIV.

This is a very specialized feature that should only be used after consulting with your customer success team. This procedure will extract 1099 dividend information from the check history in Revenue. (see Setting up DIV in Check Stub)

# 40 Payee Maintenance 1099-DIV

The data will populate from the 1099-DIV extract option into boxes 1A and 1B, if the set up has been done properly and the extract has been performed. It is assumed that all ordinary dividends are qualified so 1A and 1B will have the same value. If the funds were distributed without use on the DIV product code, the user will need to manually enter the 1099-DIV information.

An error will be given if the amount in box 2a is less than the sum of boxes 2b, 2c, and 2d.

The system has the option to include the FATCA Filing Requirement. If needed, this box will need to be manually checked. Otherwise, the default for this option is unchecked. Clicking the box will populate the FATCA Filing Requirement for the field for the plain paper forms and the transmittal file.

The “List” option provides a list of the 1099-DIV information for all Payees.

#41 Error Listing 1099-DIV (Under 1099-DIV)

Like the 1099-MISC/NEC the 1099-DIV error listing menu item allows for two different functions. There is an option to “Extract for TIN Matching” to create the e-file to be uploaded to the IRS. See TIN Matching for further detail. The second option occurs when “Printer”, “File”, or “View” are clicked on, and it creates a summary page and alerts the user of any errors.

#42 Print Form 1099-DIV (under 1099-DIV)

When printing the 1099-DIV, the user will be able to print either the original, corrected, or transmitted 1099-DIV's. Print the 1099's on plain paper or pre-printed forms. Pre-printed forms will give your 1099's a professional look. Printing on plain paper allows you to choose to print Copy B and/or C.

NOTE: Tax ID's will not be completely printed on the plain paper forms when Mask SSN box is checked.

The corrected 1099 switch is manually selected in Payee Maintenance by the user. Once the corrected 1099-DIV’s have been selected for Transmittal and the export file has been created, the system will automatically change the 1099's from “Corrected” to “Transmitted”.

The PakEnergy Accounting Forms department can help you with anything you need. Contact our Forms Department today!

#43 Print Form 1096-DIV (under 1099-DIV)

Print Form 1096 for 1099-DIV. If this is the final return (the last return that will be submitted for the company), check the corresponding box. Print the 1096 for the IRS on a pre-printed form (required). Print an office copy of the 1096 on plain paper or save to file.

#44 Export 1099-DIV Transmittal.

If the file being created is a test file, check the corresponding box for test file. Click the "OK" button at the bottom of the screen to create the file. Take note of the file destination. Click on the "View Log" button to view a summary of the export and its totals. Print or save to file.