Print 1099-R Forms

The Print 1099-R Forms routine prints 1099-R tax forms for your choice of people and gifts. Each version of GiftWrap is designed to print 1099-R tax forms for the most recent calendar year, although the software allows you to print 1099-Rs for any year that is prior to the current organization year. (Run Year End Update to increment an organization year.)

GiftWrap prints two 1099-R forms per page. GiftWrap cannot print tax information on 1099-INT, 1099-DIV, or 1099-MISC forms.

For most organizations, reporting tax information to gift annuitants after the end of each calendar year is the only reason to print 1099-Rs from GiftWrap. For the few organizations that may want to use GiftWrap to print 1099-Rs for other reasons, GiftWrap does allow 1099-R production for people who are associated with gifts with the Gift Type of Other.

1. Click 1099 Tax > Print 1099-R Forms on the Menu Bar.

2. Enter selection and sort criteria for the 1099-Rs to be produced. There is help available on each field.

3. Click OK. If you see an error log, see Notes below.

4. Note the number of forms that will be printed and the total gross amount that your institution will need to submit on Form 1096, then click the OK button.

5. Do the following, as needed:

Print the report. Remember to load 1099-R Form stock into your printer.
Save the report to a file.
Note: Saving 1099-R information to a file in this way does not create a file that is suitable for submitting to the IRS. See Create IRS 1099 File for how to create a 1099 file in the proper IRS format.
Export raw data for the report.

6. Click $image\closebox.gif$ to close the report.

To correct data already submitted to the IRS on Form 1099-R
You may discover data errors, such as incorrect income amounts, in one or more 1099-Rs after submitting them to the IRS. In this case, fix the incorrect 1099 data that is stored for the individual annuitants in GiftWrap. Then follow the steps to print corrected 1099-R forms for just these individuals.

You may need to make additional manual changes to the corrected 1099s before submitting them to the IRS. See the IRS instructions for filing Form 1099 for complete information on filling out and submitting corrected 1099-Rs.

Special handling of 000-00-0000 allows inclusion of beneficiaries who have no social security number
Beneficiaries who are assigned an SS Num of 000-00-0000 in their Person Information are handled in a special way by the 1099-R Forms routine. The routine includes beneficiaries who have an SSN of 000-00-0000, but leaves the Recipient's Identification Number box on the form blank. This approach enables you to produce 1099-Rs for beneficiaries who do not have an SSN, such as foreign beneficiaries.

To exclude foreign beneficiaries from a run of 1099-R forms
There are two ways to prevent GiftWrap from producing 1099-Rs for foreign beneficiaries. The first option is generally preferable, but there may be situations where the second option is useful.

Set the Tax Form field in the Details tab of the Gift Information page for each of the foreign beneficiary's gifts to blank. Once you've done this, GiftWrap will never produce a 1099-R for any annuitant of this gift. If you also mark the Foreign Person checkbox in the Misc tab of this person's Person Information page, Verify Database will not log an error because the Tax Form field for this person's gift annuities is left blank. Normally, it would.
If the Tax Form field is set to 1099-R for the foreign beneficiary's gift annuities, you can use the custom filter below to prevent GiftWrap from producing a 1099-R tax form for the foreign beneficiary. To be able to use this custom filter, the foreign beneficiary's Foreign Person checkbox must be marked. In the very rare situation of a gift annuity making concurrent payments to annuitants, only one of whom is foreign, using the custom filter approach allows you to print a 1099-R for the US resident only.

person.foreignperson = 0

To correct formatting of GiftWrap information when it doesn't fit properly on 1099-R forms
If you find that the information that GiftWrap prints on your 1099-R forms is not fitting properly within the boxes on the form, you can adjust the printing of this information downward and/or to the right one or more pixels by using the Adjust Text on 1099-R Form Down by and Adjust Text on 1099-R Form Right by questions in the 1099-R Details section of the 1099-R Forms tab.

If you need to move the information up or to the left, or if the information is too spread out, you likely need to change the Page Scaling setting in the Windows Print dialog (the last window you see before the forms print). In the Page Handling section of the Print dialog, set Page Scaling to None.

Notes:

· Every charity must send each of its gift annuitants a 1099-R form by January 31st (or first business day thereafter if January 31st is a weekend day) of the calendar year that follows the tax year being reported. Every charity must send a copy of each of these 1099-R forms to the IRS by February 28th (or first business day thereafter if February 28th is a weekend day) of that year.

· If your charity will be submitting 250 or more 1099-Rs to the IRS under one tax ID number, it must submit its 1099-R tax information electronically in IRS-specified format. Choose the 1099 File tab to create this electronic file in GiftWrap.

· Use the log window to troubleshoot any errors. The log indicates the person key and the Gift Key to identify the gift along with a brief explanation of the problem.

You can print the error log or save the log in a file that you can print or review later. Click Continue and go to the next step in the procedure.