Forms 1099 and 1098 - Frequently Asked Questions (DAS)



Drake Accounting®: Forms 1099 and 1098 - Frequently Asked Questions

 

Choose from the following FAQs about Forms 1099 and 1098:

  1. Do I need anything other than Drake Accounting® prior to uploading 1099/1098 files?
  2. Are there other forms that I need that are associated with electronically filing Forms 1098/1099 for an extension or waiver?
  3. Where do I create Forms 1098/1099?
  4. Which forms are available under Payables?
  5. Which forms are available through On the Fly?
  6. General Notes

Do I need anything other than Drake Accounting® prior to uploading 1099/1098 files?

  • You will not be able to transmit unless you have applied for and received a TCC. See KB 15725 for details.

 Are there other forms that I need that are associated with electronically filing Forms 1098/1099 for an extension or waiver?

  • Yes, Forms 8809 and 8508.
    • Form 8809    
      • This is the extension of time to file informational returns. See KB 15855 for more information.
    • Form 8508 - This requests a waiver from filing informational returns electronically.
      • It must be filed at least 45 days prior to the due date of the returns for which you are requesting a waiver.
      • If you do not file and do not have an approved waiver on record, a penalty of $50 per return can be levied.

Where do I create Forms 1098/1099?

  • Forms 1099 can be created from payments through the Payables module or can be filled out in the On the Fly module within Drake Accounting®. The only forms under Payables that payments flow to are the Form 1099-MISC and the 1099-NEC.
  • Forms 1098 can only be created in the On the Fly module.

 Which forms are available under Payables?

  • The following Forms 1099 are available under Payables > Federal Forms > Form Type > Form 1099.
    • 1099-NEC 
    • 1099-MISC
    • 1096

 Which forms are available through On the Fly?

  • The following Forms 1099 are available under On The Fly > Federal Forms > Form Type > Form 1099.
    • 1096
    • 1099-A
    • 1099-B
    • 1099-C
    • 1099-DIV
    • 1099-G
    • 1099-INT
    • 1099-MISC
    • 1099-NEC
    • 1099-OID
    • 1099-PATR
    • 1099-R
    • 1099-S
  • The following Forms 1098 are available at On The Fly > Federal Forms > Form Type > Forms 1098 and W-2G
    • 1096
    • 1098-C
    • 1098-MORT
    • 1098-T
    • W-2G

General Notes

  • For information about correcting an e-file, see KB 15815.
  • You can zoom in and out of a form using the plus or minus buttons next to the Save/Print button.
  • See KB 15064 for information about adjusting form alignment. 
  • The IRS resized the 1099-NEC for 2021 so that 3 forms will be printed per page (3-up only).
  • Use DAS 23 to file Forms 1099/1098 for tax year 2023.