(USA) Form 1099 checklist [AX 2012]

Updated: March 16, 2011

Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2, Microsoft Dynamics AX 2012 Feature Pack, Microsoft Dynamics AX 2012

Note Note

We recommend that you review IRS rule changes for the applicable tax year before you set up and process 1099 statements. These controls are available only to legal entities whose primary address is in the United States and if the Public Sector 1099G or Public Sector 1099S configuration key is selected.

Set up the following information before you enter data for 1099 statements:

  • In the Legal entities form, click the Withholding tax FastTab. Select the Validate Tax 1099 data formats check box to indicate which fields have insufficient information when you enter 1099 data.

  • In the Vendors form, click the Tax 1099 tab. Select the Report 1099 field to activate the 1099 data for the vendor and to activate a default 1099 box.

  • In the Vendors form, click Set up > Vendor state tax IDs to set up the states where you make payments to vendors.

Set up the following information before you print 1099 statements or file them electronically or magnetically with the IRS:

  • In the Legal entities form, enter 1099 data.

  • In the 1099 fields form, verify the minimum amounts that are required for 1099 reporting for the current tax year.

  • In the Vendors form, enter information in the 1099 fields for each vendor that will receive a 1099 statement. Click Set up > Vendor state tax IDs, and then enter all state 1099 information.

  • To file 1099 statements electronically or magnetically, enter the required information in the 1099 software vendor and 1099 transmitter forms.


Announcements: To see known issues and recent fixes, use Issue search in Microsoft Dynamics Lifecycle Services (LCS).

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