Image source: https://support.buildium.com/hc/en-us/article_attachments/209785428/1099_2016.jpg
A 1099 form is considered an informational return by the IRS. Use this form to report taxable income. 1099 R Forms reports distributions from pensions, annuities, retirement funds, etc.
File Form 1099-R for each person to whom you have made a designated distribution or are treated as having made a distribution of $10 or more from profit-sharing or retirement plans.
When it comes to printing tax forms for the IRS there are many different rules and regulations to follow. A good tool to use is the IRS website. You can find beneficial information on this site. To make printing 1099 R forms from your computer simple I would recommend government approved 1099 software. Using government approved software puts your mind at ease that the forms are printed to IRS standards.
1099 R copies B, C and 2 forms must be issued to recipients no later than January 31st of the following tax year. The IRS requires 1099 R copy A and 1096 forms to be filed by mail no later than February 28th if electronically filing the forms the deadline becomes no later March 31st.
Use 1099 reporting software to create, print and file 1099 R forms. Follow the six simple steps below in order to print your forms before the IRS deadline.
Step 1: Click company>new company>enter company name because this type of software can be used for multiple companies you will need to complete these steps for each individual company.
Step 2: In the next screen enter the company's address, EIN and state ID
Step 3: Click 1096 information (the third tab over) enter the contact person's name, phone number and email address. Enter the filer's name if different from the company name. An example of the filer's name being different than the company's name would be if you are a tax preparer.
Step 4: Click 1099 recipients>new recipient, enter the recipients Social Security Number, type of 1099 received, name and address. This information will automatically populate on the form in the next step.
Step 5: Click 1099 forms. In this screen you should see the recipient information already populated. On the right side of the screen you will enter totals in the boxes that apply to this recipient.
Step 6: From this screen click print. Select which recipients you want to print 1099 forms for at this time current, all or a range of recipients. Next select the type of copy you want to print from the drop down menu. 1099 Software prints 1099 R copies B, C, state 1 and state 2 to blank paper and prints 1099-R A to a preprinted laser forms. The IRS does require 1099 copy A and 1096 forms to be printed to preprinted red ink laser forms. You will see the option, in the drop down menu, to print instructions on the back of the recipient 1099 R forms.
Form 1099 software is extremely easy to use as you can see you will start entering and printing data within minutes of downloading the software.
