Regulatory2022: 1099 Reporting - Negative Per-Unit_Retains Not saving in negative form on 1099-PAT Electronic file (AGS-19546)

Benefits

Prevent the IRS from rejecting or incorrectly allocating per-unit retains.

Description

Per IRS regulations, negative per-unit retains will not be reported individually or in the total records when generating 1099 in electronic or printed forms.

Related content

Regulatory2022: Support printing and e-filing of information tax forms for 2022 (for processing in 2023) including 1099-DIV, 1099-INT, 1099-MISC, 1099-NEC, 1099-PATR and W-2 (AGS-21468)

IRS Rejects IRSTAX file because of zero quantity "C" record for 1099-MISC & 1099-INT when no B record exists. (AGS-19541)