Menu Path: Fund Accounting > Periodic Routines > Periodic Processing > 1099 Processing > Setup 1099-Int Parameters
Use this option to define system parameters for loading 1099-Int records. You define the type codes and minimum amounts for the following payments:
|
Box |
Payment Types |
|---|---|
|
1 |
Interest Income Not Entered in Box 3 |
|
2 |
Early Withdrawal Penalty |
|
3 |
Interest on U.S. Savings Bonds and Treasury Obligations |
|
5 |
Investment Expenses |
|
6 |
Foreign Tax Paid |
|
8 |
Tax Exempt Interest |
|
9 |
Specified Bond Interest |
Fields
|
Field |
Description |
|---|---|
|
Code |
Code indicating the type of 1099 payment to load in the corresponding box on the 1099-Int form. The selections in the drop-down list come from Fund Accounting's 1099 Types table. If the appropriate selections do not display, be sure to add the missing records to the table. |
|
Minimum Amount |
Minimum year-to-date 1099 payment total allowed for a 1099 form to be created for a vendor. For example, if you enter 600.00, 1099 forms are created only for vendors who were paid $600 or more in the past year. |