How do I know if the data is correct for my 1099s?


PropertyBoss recommends using the O186 Owner Summary Profit and Loss Report to view transactions included in the total amount paid to the owner. All the transactions listed on the O186 should also be checked on the Select Transaction window when printing the 1099. The O260 also contains detailed information to accompany at 1099 form. 

 

When choosing “Rent” as an income option, be sure to also include your reversed rent transaction. If the reversal transaction is not chosen, your 1099 will only calculate rent paid to an owner and will not factor in rent that was reversed and deducted from the owner. 

 

For Vendors, the Accounting tab lists the transaction types paid to each vendor. These can be cross-referenced to account for all payment types to vendors.

 

What is 1099Fire?  

1099Fire is a Third-Party provider of electronic 1099 processing that includes: 

  • Taxpayer Id Number (TIN) Matching
  • Electronic Filing
  • Electronic Delivery of 1099s 
  • Mailing of 1099 forms

 

PropertyBoss partners with 1099 Fire to provide a completely automated, low-cost solution for 1099 handling. Their website is https://www.1099fire.com. You will set up an account with, and pay, 1099Fire directly for their services.

 

Where is my 1099Fire file?

A copy of the Excel file sent from PropertyBoss to 1099Fire is automatically saved in the pb_reports folder on your hard drive. 

 

Why can’t I find my printer’s name?

The printer to choose is called My Local Printer. You will not see the name of your printer in the list. Instructions are provided to set your local printer if your forms aren’t printing to the correct printer. 

 

Do I print the 1096 Form?

The 1096 Form is only used when printing and submitting paper copies of 1099 Forms (and other Information Returns). If you are filing electronically, you do not print a 1096 Form.

 

Why is my file in .txt format?

PropertyBoss will automatically save Third-Party forms as a text file. This is the standard format that most accounting software accept when filing 1099s. You can convert the text file into any format once it is saved on your computer. A Google search provides instructions on how to convert txt into CSV or Excel files. 

 

Where did the Box 3 option go?

Box 3 is available in the drop down menu on the “Select which transaction appear on 1099” screen for Owners only (O280). The V280/1099-NEC only uses Box 1; therefore the option to choose between Box 1 and Box 3 is not needed.  

 

What Third-Party provider do I use?

PropertyBoss cannot advise you on who to use when filing your tax-related forms. We provide the following information so you can make an informed decision: 

  • The Internal Revenue Service (IRS) provides two electronic filing options - FIRE and IRIS. 
    1. FIRE is the older system
    2. IRIS is the newer system 
    3. Both options are free of charge, and you can follow their procedures to submit your tax forms.
    4. PropertyBoss is not integrated with FIRE or IRIS. Choose either third-party filing or file directly on the IRS website.

 

  • PropertyBoss integrates with a vendor called 1099Fire, which is not affiliated with the IRS. Their services come at a cost that you pay directly to them. If you opt for 1099Fire, you can select that option in PropertyBoss, and after running your reports, PropertyBoss automatically transfers all the data to 1099Fire. The vendor then files your forms for you. Please use this website for more information or give them a call. https://www.1099fire.com/propertyboss.htm
  • There are many other third-party vendors you can hire to file your forms. You are not limited to the IRS or 1099Fire. The choice is yours, as PropertyBoss allows you to export a copy of your data to give to any vendor.

Where is my print button? My buttons are missing! I cannot Print 1099s.

If you do not see the three Print buttons below the Review Amounts screen, the size of your workstation screen may be limiting your full display. 

 

  1. Go to Setup Preferences > Personal Preferences > uncheck Maximize Window box. 
  2. Log out of PropertyBoss and back in. 
  3. Run the 1099 report. 
  4. Adjust the window size now that it is not maximized. You will find the buttons. 
  5. Your Personal Preferences can be changed back after printing 1099s.