1099 forms report on the total 1099 MISC payments for a particular 1099 supplier. Generate 1099 forms for each tax reporting entity in your organization.
Attention: Voided checks are not included in 1099 payment totals, regardless of when the void occurred.
You can use either of the 1099 Forms reports in Payables:
The 1099 Forms report prints on preformatted forms from the Internal Revenue Service
1099 Forms -- Comma Delimited Format report generates the output in a comma delimited format that you can use with third-party software to print both the 1099 forms and data.
In accordance with the Internal Revenue Service rules, Payables does not generate a 1099 form for a supplier unless you paid the supplier at least $600 USD for the calendar year. However, Payables generates a 1099 form for the supplier if you do any of the following:
Pay a 1099 supplier at least $10 in Royalties (Box 2)
Substitute payments in lieu of dividends or interest (Box 8)
Pay any fishing boat proceeds (Box 5)
Pay excess golden parachute payments (Box 13)
Pay gross proceeds to an attorney for legal services (Box 14)
Payables reports on a payment only if the payment pays a distribution that uses one of the following 1099 MISC types in the Income Tax Type field: MISC types 1-14, except MISC9, MISC11 and MISC12.
You can order the output alphabetically either by state code or by the supplier's reporting name.
If this report encounters any of the following exceptions it will stop and report the error on the output:
Non-Standard TIN
Null Address Element
Null Foreign Address
Null State
Null TIN
If the report encounters a Negative MISC Total then it will stop and report this in the log file.
Be sure to first review the 1099 Supplier Exceptions report and 1099 Invoice Exceptions report to identify and fix all errors before you submit the 1099 Forms.
Prerequisites
Submit the 1099 Invoice Exceptions report and the 1099 Supplier Exceptions report. Review the report output and make any necessary corrections. See: 1099 Invoice Exceptions Report, and 1099 Supplier Exceptions Report.
If you are using the 1099 Forms report to print on 1099 forms, then insert and align the forms in your printer.
If you are generating the report in comma-delimited format, then install the third-party software
You submit these reports from the Submit Request window. See: Submitting Standard Reports, Programs, and Listings.
Tax Reporting Entity. The name of the tax reporting entity for which you want to submit the 1099 forms report.
Payer Name Source. The source from which Payables obtains the payer name for the report.
Address. Address line 1 for the address entered in the Location window.
Location. Location Name entered in the Location window.
Tax Entity. Entity Name entered in the Reporting Entity window.
Telephone Number of Payer. Enter the telephone number that you want Payables to use for the name and address of payer. This is the telephone number of the person in your organization whom the payee should call if there are questions regarding the 1099 form.
Supplier Name. If you want to submit the report for a single supplier, enter the supplier name. Leave this parameter blank to submit the report for all suppliers.
Federal Reporting Limit. The minimum amount for which you want to report 1099 payments to your suppliers.
Order By. Choose whether you want the report ordered alphabetically by state code or by the supplier's reporting name.
PAYER'S name, street address, city, state and ZIP code. The name and address of your tax reporting entity. You can define the name and location of your tax reporting entity in the Locations window. You then assign the location to your tax reporting entity in the Reporting Entity window. Payables identifies the name according to the Payer Name Source parameter you choose.
PAYER'S Federal identification number. The tax identification number of the tax reporting entity. You enter this tax identification number when you define your tax reporting entities.
RECIPIENT's identification number. The tax identification number of the 1099 supplier.
RECIPIENT's name. The 1099 supplier's name.
Street address. The supplier's street address.
Note: If you are using the 1099 Forms report to print directly on the IRS 1099 forms: You can enter up to three address lines when you enter a supplier but the 1099 form only provides space for one address line. Payables uses the first supplier address line from the Suppliers window and adds as much of the second and third address lines if there is available space in the 1099 Form. The 1099 Forms report prints a maximum of thirty characters in the address field of the 1099 form.
City, state, and ZIP code. Supplier's city, state, and postal code.
Account number (optional). Not supported.
2nd TIN Not. If the Internal Revenue Service (IRS) has notified you twice in three years that a 1099 supplier has provided you with incorrect tax information, you can enter an X in this box to fulfill your reporting obligations to the IRS.
4 Federal income tax withheld. The total amount of Federal income tax withheld for the 1099 supplier. This is the sum of all paid distributions for a 1099 supplier that have an income tax type of MISC4.
7 Nonemployee compensation. The total amount of nonemployee compensation payments to a 1099 supplier during a calendar year.
9 Payer made direct sales of $5,000 or more of consumer products to a buyer (recipient) for resale. Not supported.
11 State Income Tax Withheld. Not supported. The total amount withheld as state income tax from a 1099 supplier during a calendar year. This field need not be completed for the IRS and is for your convenience only.
12 State/Payer's State Number. Not supported. The abbreviated name of the state and the payer's state identification number, assigned by the state. The IRS does not require this field, it is for your reference only.
13 Excess Golden Parachute Payments. Excess golden parachute payments.
14 Payments to Attorneys. Gross proceeds paid to an attorney for legal services.
The report output of the 1099 Forms -- Comma Delimited Format report provides the following information. For each supplier (also known as recipient), the report provides values for the data elements listed below. The values are a continuous string separated by commas. The strings of values for each supplier are separated by hard returns.
The following table shows the data elements and the order in which they are presented. For elements that are not supported, the output provides a space instead of a value.
| Data Element | Supported? |
|---|---|
| payer's name | |
| payer's address line 2 | |
| payer's address line 3 | |
| payer's city | |
| payer's state | |
| payer's postal code | |
| payer's telephone number | |
| payer's federal ID number | |
| recipient's federal ID number | |
| supplier name or tax reporting name | |
| supplier's address line | |
| supplier's city | |
| supplier's state | |
| supplier's postal code | |
| account number | No |
| second TIN box | No |
| MISC1 | |
| MISC2 | |
| MISC3 | |
| MISC4 | |
| MISC5 | |
| MISC6 | |
| MISC7 | |
| MISC8 | |
| MISC9 | No |
| MISC10 | |
| box 11 | No |
| box 12 | No |
| MISC13 | |
| MISC14 | |
| box 15 | No |
| box 16 | No |
| box 17 | No |
| box 18 | No |
For example:
For the following data elements: payer's name, payer's address line 2, payer's address line 3, payer's city, payer's state, payer's zip code, payer's telephone number, . . .
The report provides the following string of values: Acme Corporation,90 Fifth Avenue,New York,NY,10022-3422,5057775588, . . .
For the 1099 Forms Comma Delimited Format Report to format correctly, you must exclude commas in the following fields:
Supplier Name field in the header region of the Suppliers window
Address fields in the Supplier Sites window
Location field in the Reporting Entity window
Note: The Location field is unique because you set up a location in Oracle HRMS then assign this location to a reporting entity while in Oracle Payables.