1099 boxes - update -- 1099 reporting for 2021

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Posted on by Petronila

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Hello All -- I wanted to run a report to get a listing of all the vendors that were paid in 2021 and have been marked for reporting -- either 1099 NEC or 1099 MISC.

I get a message that the I need to update the form boxes first before I could run the report. See below...

Two questions -- I set up a job queue for the update... Is the completion of this task dependent upon another update from Microsoft. If that is the case, when is that expected to happen? Our system just has been updated to version 19.0

The second question -- is there another way to run a report with all year-to-date information, so we can review?

Thank you!

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Petronila 390 on at

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RE: 1099 boxes - update -- 1099 reporting for 2021

Yes! Thank you very much Steve!
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Community Member on at

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RE: 1099 boxes - update -- 1099 reporting for 2021

Hello,

Adding to MahGah's reply... After you complete the 1099 Update for Year 2020 make sure you are on the v19.1 of Business Central as the IRS made changes to the 1099 for Calendar Year 2021. These updates were made available in v19.1 update.

Thank you,

Steve
Petronila 390 on at

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RE: 1099 boxes - update -- 1099 reporting for 2021

Ha... interesting. Thanks so much!!
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MahGah 15,443 on at

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RE: 1099 boxes - update -- 1099 reporting for 2021

You are welcome

Based on my experience it depends on job queue. Some goes on hold and some not. Looks like depends on their impact on system each behaves differently. But I could not find a good answer for it. I hope someone can provides better answer.
Petronila 390 on at

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RE: 1099 boxes - update -- 1099 reporting for 2021

Thanks so much... this was very helpful!

Another follow up question -- why would the request go to a Job Queue and be "on hold". Is this always the case?

Thank you!
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MahGah 15,443 on at

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RE: 1099 boxes - update -- 1099 reporting for 2021

Hi

For first question

According to Microsoft (below) "To get this update, you must run the Update Form Boxes action on the 1099 Form Boxes page. Alternatively, you can open the 1099 Form Boxes page, and use the Schedule an update of the form boxes link in the notification to specify when you want the update to run." https://docs.microsoft.com/en-us/dynamics365/business-central/localfunctionality/unitedstates/tax-1099

If you scheduled the Job Queue to update 1099 and set the status to Ready then you should be good to go. Or you can use Update From Boxes.

For the second part please review this link https://bondconsultingservices.com/2019/02/14/microsoft-dynamics-365-business-central-1099-processing/

"To review the 1099 vendor amounts, you can use the Vendor 1099 Information report. The report can be found in the vendor lists window under Reports > General or within the vendor card under Report > Vendor 1099 Information. This report includes all 1099 information for the vendors that been set up using the IRS 1099 Form-box tables."