The system will track an owner’s 1099 information automatically. This information is available for printing and editing by choosing the 1099 and Unit Totals Reports menu from the Owner Reports Menu. All gross income and any owner referral income are totaled on a monthly basis. The 1099 file does not keep up with expenses charged the owner. The 1099 report adds the twelve months of gross rental income and owner referral income to come up with the annual amount to print on the 1099 form. You may edit any owner 1099 information by entering in the unit number a dash and the owner number, for example 100-1 would be unit 100 and owner number 1. You may also create additional 1099 entries by creating a new entry, i.e.. using a non-existing number. You can then enter in their monthly values and the system will print these new entries along with the owner entries. This could be used to enter your vendor 1099 information and have the system print a 1099 for them.
You will have options to work with only 1099 Summary,1099 Information Detail, Unit (or owner) 1099s, Vendor 1099s or All (Both Unit and Vendor).
See 1099 and Unit Totals Reporting Menu