First, take a look at our 1099 Webinar hosted by the Vantaca Training Team!
Table of contents
Which forms do I need to buy?
We are not Certified Tax Professionals. For the BEST advice, contact a CPA or visit the IRS Website. That being said,
- MOST Vendors will use the 1099-NEC form.
- SOME Vendors will need the 1099-MISC form.
- Visit IRS.gov for more detailed information.
- You can also order FREE tax forms directly from the IRS by going here.
Can you exclude partial invoices? Reimbursement and labor included on one invoice?
At this time you can only include/exclude complete invoices. If you have vendors that require reimbursement AND labor costs, it's best practice to have them submit separate invoices for those. When doing the Data Entry for those invoices, there's even an option to "Exclude from 1099" at the time of Data Entry.
What if I have Vendors with both NEC and MISC forms?
If doing a bulk order with multiple Vendors/Associations, Vantaca will create 1 action item for MISC vendors, and 1 action item for NEC Vendors. You don't need to do anything special!
I’ve already filed, but I need to send a corrected 1099. What do I do?
- The easiest way:
- Reopen that individual Vendor/Association
- Make your corrections
- Close and Create Report for Printing
- Check the “CORRECTED” box
Why does it say “A Beginning Balance Already Exists” when I try to add a New Balance Record?
You can only have one Balance Prior to Vantaca. However, you CAN edit that amount if it needs to be adjusted.
I'm noticing that all of my 1099 vendors are reflected under the 1099 tab, including those that have balances that are under $600. Will only those with $600 or more generate a 1099?
That is correct! Even though all 1099-eligible Vendors will appear in the 1099s tab, only those that exceed the $600 threshold will actually generate a 1099. They will not be included in any printing, and they will not appear as a line item in the CSV file sent to Nelco.
That being said, it is still recommended to "close" those Vendors so it is easier to tell which Associations are complete, and which still need to worked on.
How much does NELCO cost to eFile?
Click the Nelco Link from Vantaca and click the “How It Works” button at the top of the page for current pricing.
How can I file State 1099s through Nelco?
- Open the Excel document that is generated.
- Add the State Abbreviation (ex: NC, GA, TX, etc.) to the “StateNameOne” Column
- Delete the original file from the Action Item
- Attach the new Excel File to the Action Item and step to Send to Nelco.
- Process as normal.
Can Nelco bill by Association when processing bulk forms?
Using the Nelco "Summary Report" located in the Cart before you process your final order, you will get a list of each Association, as well as how many forms (One for NEC and one for MISC) were filed for each. From there you can simply do the math to find the price per each Association.
When using Nelco, what happens if a vendor comes back and asks for a duplicate copy of their 1099 because they didn't receive the original? How can we retrieve and send another copy?
After you have completed your Nelco filing, you will have access to the "Form Filing History" page, which will give you access to correct 1099s, resend duplicates, and other items dealing with your previous filings.
Can you leave 1099s in the "cart" and continue to add to the cart over a few days for the price break?
Yes. The pricing is based on the number of forms you process, and will scale down as you add more. For best results, only process 1 order with all of your forms included.