Before you begin:
Choose the 1099 Report Summary or Detail option from the 1099 and Unit Totals Reports Menu off the Owner Reports Menu. The system will track the owners’ 1099 information automatically. The 1099 report adds up the twelve months of gross rental income and owner referral income to come up with the annual amount to print on the 1099 form. If an owner changes mid year and the owner has been properly transferred in the system, these report should generate information reflecting each owner’s share of the unit’s rental business.
Prompt Descriptions…
1099 to print:
‘Include All’ is the default option or you can print just 1099’s for owners by clicking ‘Unit’ or just Vendor 1099’s by choosing the ‘Vendor’ button.
Print Federal ID:
Choose ‘Yes’ to print the federal identification number on the 1099 or ‘No’ to leave it off.
Print SSN < $600:
Choose ‘Yes’ if you want to print 1099’s for the 1099’s that refer to earnings less than $600.
Year Reporting:
RMS will default to the current year.
No Print 1099’s:
This option allows you to tell RMS if you want to print the 1099’s or not. You will still get an option to view the information before printing and escape out of it if you do not want to print the 1099’s at this point.