US 1099 Tax reporting.

1. ​​​​​​when you run the tax proposal --- are the transactions pulled into the proposal??  
2. I assume the answer is no to above.   Did you run the calculate income amount?
3. when you go to tax transactions -- is the fetched boxed checked and in the income amount field is there a value?

Hello @Polash 

Follow the solution document for 1099. It shows the whole process.

Hope this helps

@Nancy Fink I am not getting inome amount. any idea? Thank in advance.

@Polash 

You ran the calculate income??

Is the trans code PP49?  

You wouldn’t get it with the tax code of 10.   

Did you manually create the 0 WTH tax code or was that created by the system when you either created a new company or ran the update company?  

I’m assuming there is an income type on the transaction.

It would be better if you provided your test plan on how you set this up -- etc.   and the complete details of the tax transation

@Nancy Fink Yes PP49 is creating. Icreated Tax Code manually. Income type is also there in the invocie. 

Created another invocie. 

@Polash 

I suspect creating the 0 WHT manually is your issue.   This should be created by the application when creating a new company.   If the company already existed w/o the 0 WHT then the update company should be used to create the 0 WHT.  

Do you have another company you can test above in? 

@Nancy Fink well in another environemnt i did the same process and manually created tax code. i was able to generate the report. 

@Polash 

HI Polash,

Well… sorry - I am not sure what you did different between the different environments.   

I would suggest a support case so we can review why when you run the calculate income it is not calculating anything.   

@Nancy Fink thank you for your time. let me check and will update. 

Hi @Nancy Fink, Hope you doing well. Income amount is coming now. there was a setup missing in supplier master. 

i have another queston. If the invoice value is 10,000 and tax is 730. i am paying supplier 10,000 (Including Tax). Now in the report it is showing 9270. According to the customer it should pick payment amount 10,000. 

 @Nancy Fink Thanks for the detailed info. 

For 1099 NEC, They are saying tax should be included in the report (As they paid full amount). my question, is there any way to bring 10,000 in the income amount column instead of 9269. 

Thanks a lot for your time and effort. 

@Polash 

Have you gone to the tax ledger parameters and changed the tax base amount?    

I have not tested as I have not heard of this requirement.

If below does not provide your results (NOTE:  you would need a new invoice/paid after changing below) - then recommend you provide documentation on that requirement and log an idea so it can be reviewed if it is indeed a legal requirement.

Tax Base Amount:
Select the method for handling of tax base amount for partly deductible tax.
 
Original: The amount on which tax is imposed will be used.
Reduced: The amount will be used, but it will be adjusted in a way that the deductible tax amount as a percentage of the net amount is always equal to the specified tax percentage. 
Cost: The difference between the gross amount and the deductible tax amount, that is the cost amount on relevant invoice line will be used.

Hi @Nancy Fink  finally after having tons of meeting they agreed with IFS process. Thanks a lot.