Drake Tax - Guide to 1098 and 1099 Informational Returns
Article #: 11742
Last Updated: November 06, 2024
The DOCS screen in data entry contains links for the more frequently used Forms 1098 and 1099. A summary of data entry possibilities is found in the table below. See the indicated Knowledge Base articles for more detailed information as needed.
| Form | Title or Description | Data Entry Possibilities in Drake Tax | For more info, see |
|---|---|---|---|
| 1098 | Mortgage Interest Statement | screen 1098 or screen A | Drake Tax - 1098: Splitting Mortgage Interest |
| 1042-S | Foreign Person's US Source Income Subject to Withholding | screen 1042 | Drake Tax - Form 1042-S |
| 1095-A | Health Insurance Marketplace Statement | screen 95A | Drake Tax - ACA Reporting Forms 1095-A, 1095-B, 1094-C, 1095-C |
| 1095-B | Health Coverage | no entry screen | Drake Tax - ACA Reporting Forms 1095-A, 1095-B, 1094-C, 1095-C |
| 1095-C | Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Return | no entry screen | Drake Tax - ACA Reporting Forms 1095-A, 1095-B, 1094-C, 1095-C |
| 1098-C | Contribution of Motor Vehicles, Boats & Airplanes | screen A, line 12, screen 8283 (if over $500) | Drake Tax - 1098-C: Data Entry |
| 1098-E | Student Loan Interest Statement | screen 4, line 21 | Drake Tax - 1098-E: Student Loan Interest Deduction |
| 1098-MA | Mortgage Assistance Payments | Schedule A | Drake Tax - 1098-MA |
| 1098-T | Tuition Payments Statement | screen 8917/8863 for Taxpayer, spouse or dependent. | Drake Tax - 1098-T: Data Entry |
| 1099-A | Acquisition or Abandonment of Secured Property | No entry screen. If taxable, entry depends on the nature of the amount reported. | Drake Tax - 1099-A: Data Entry |
| 1099-B | Proceeds from Broker & Barter Exchange Transactions | For sales or dispositions of capital assets, screen 8949. For barter transactions, consult Pub. 525. | Drake Tax - 1099-B - Noncovered Securities or Drake Tax - 1099-B - Broker and Barter Transactions orDrake Tax - 1099-B for State e-Filing Purposes |
| 1099-C | Cancellation of Debt | screen 99C | Drake Tax - 1099-C: Cancellation of Debt and Form 982 |
| 1099-CAP | Changes in Corporate Control & Capital Structure | screen 8949 | |
| 1099-DIV | Dividends & Distributions | screen DIV, screen 3, line 3 | Drake Tax - 1099-DIV: Restricted Stock Dividends and Non-Taxable Income orDrake Tax - 1099-DIV and 1099-INT: Exempt Interest Dividend Not Carrying to State or Drake Tax - 1099-DIV: Box 9 |
| 1099-G | Certain Government & Qualified State Tuition Program Payments | screen 99G | Drake Tax - 1099-G - Unemployment Compensation or Drake Tax - 1099-G: State and Local Tax Refund Taxability or Drake Tax - 1099-G Reporting Unemployment Benefits Received Erroneously |
| 1099-INT | Interest Income | screen INT, screen 3, line 2 | Drake Tax - 1040 - Tax-exempt and Taxable Interest or Drake Tax - Interest Income: EF Message 5378 and 5285 or Drake Tax - 1099-DIV and 1099-INT: Exempt Interest Dividend Not Carrying to State |
| 1099-K | Payment Card and Third Party Network Transactions | Enter as part of gross receipts. Not separately reported. 99K screen (state e-file only) | Drake Tax - 1099-K: Data Entry |
| 1099-LTC | Long Term Care & Accelerated Death Benefits | screen 8853, section C | Drake Tax - Long-Term Health Care Premiums |
| 1099-MISC | Miscellaneous Income: Rent/Royalty Income, Prizes or Awards NOT for Services, Payments to Crew Members (Fishing), Payments for Health Services, (Medical Assistance Programs , (Health/Accident Insurance Plans), Payments for Services by Persons, (Not Treated as Employees), (Directors, Subcontractors), (Golden Parachute Payments), Fish Purchases Paid in Cash for Resale, Substitute DIV & Tax-Exempt INT, Crop Insurance Proceeds, Gross Proceeds Paid to Attorneys | screen 99M, lines vary depending on form received and schedule/form to which it applies. | Drake Tax - Schedule C: Multiple 1099-MISC/1099-NEC for Same Business |
| 1099-MSA | Distributions from MSA or Medicare + Choice MSA | screen 8853 | |
| 1099-NEC | Non-employee Compensation | screen NEC | Drake Tax - 1099-NEC - Nonemployee Compensation or Drake Tax - Schedule C: Multiple 1099-MISC/1099-NEC for Same Business or Drake Tax - 1040 - Erroneous or Unneeded Schedule C |
| 1099-OID | Original Issue Discount | screens INT or OID | Drake Tax - 1040/1041: Tax-Exempt OID Interest |
| 1099-PATR | Taxable Distributions Received from Cooperatives | Two options: screen F, line 3a (cash) or 38a (accrual);PATR screen | Drake Tax - 1099-PATR Data Entry |
| 1099-Q | Distribution from Coverdell ESA or Qualified Tuition Program (QTP) | Two options: screens 5329 and/or 3 | Drake Tax - 1099-Q: Payments from Qualified Education Programs |
| 1099-R | Distribution from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. | screen 1099 | Drake Tax - 1099-R - Roth Distributions and Rollovers or Drake Tax - 1099-R: Taxable Amount FAQs or Drake Tax - 1040: 1099-R ROLLOVER Literal or Drake Tax - 1099-R - Additional Information Check Boxes or Drake Tax - 1099-R: Qualified Charitable Distribution (QCD) or Drake Tax - 1040: Public Safety Officer (PSO) Insurance Premiums |
| 1099-S | Proceeds from Real Estate Transactions | Sale of business use or rental real estate - screen 4797. Sale of investment real estate - screen 8949. Sale of home - HOME screen. | Drake Tax - 1099-S Data Entry or Drake Tax - 4797: 1099-S Transaction |
| 1099-SA | Distributions from a health savings account (HSA) or Archer MSA, or Medicare Advantage (MA) MSA | screen 8853 or 8889 | Drake Tax - 1099-SA Data Entry |
| RRB-1099 | Railroad Benefits (Tier 1) | screen RRB | Drake Tax - 1040: Railroad Retirement Benefits (RRB) |
| SSA-1099 | Social Security Administration Benefits | screen SSA | Drake Tax - SSA-1099 or RRB-1099: Repayment of SS or RRB Benefits |