Whether or not you’re a landlord, actual property investor, or property supervisor, be certain you perceive the brand new adjustments to 1099 submitting necessities for the upcoming tax yr– it’s possible you’ll must e-file even when you weren’t required to in earlier years. This webinar with Nelco will stroll you thru find out how to file 1099s electronically by simply connecting your information out of your Rentec Direct property administration software program to Nelco for fast and straightforward submitting.
Rentec Direct and Nelco Options held a webinar to present you all of the instruments it’s good to seamlessly electronically file your 1099’s earlier than this yr’s deadline.
No further information entry is important, no must pay an costly accountant, your property administration software program compiles all of the related information wanted to create 1099-MISC and 1099 NEC types out of your account.
With a push of a button, that information transfers out of your Rentec Direct account to the Nelco Options website, which creates the suitable 1099 types, mails copies to your recipients, and e-files with the IRS, in addition to relevant state businesses, permitting you to fulfill deadlines and stay compliant along with your tax obligations.
Efiling with Nelco Options and Rentec Direct will:
- Meet all IRS and State E-file necessities
- Supply a very paperless options
- Cowl all year-end kind sorts
- Print, mail, and electronically ship recipient copies for you
Did you miss the dwell coaching?
Jason from Nelco joined Kathryn from the Rentec Direct Success Crew to present reply any burning questions you’ll have, and to stroll you thru the the simplest strategy to full year-end tax reporting. Whether or not you might be new to e-filing this yr, otherwise you merely have just a few questions, you’ll find info on find out how to e-file within the Rentec Direct Knowledgebase, contact your wonderful Rentec Direct success staff, or watch the recording of the informative webinar hosted by Jason Jenison at Nelco Options.
This coaching lined:
- What IRS rules have modified and the way it impacts you
- How you can e-file your 1099 tax types with Rentec Direct
- Rentec Direct entry and Nelco Options login
- Federal 1099 submitting choices
- State 1099 submitting choices
- How you can e-mail copies to recipients
- How you can print and save copies
- How you can course of corrections
- How you can test the standing of your submitting
Extra 1099 Data:
The IRS is requiring filers with 10 or extra types to electronically file for the upcoming 2023 tax yr (to be filed in 2024).
Bear in mind, this regulation contains the entire for all aggregated types filed (1099, W-2, 1095, and so forth.). If you’re a Rentec Direct consumer, the e-filing course of is already accessible to you thru your property administration software program.
Nelco is providing all Rentec Direct purchasers one free submitting with the code: RENTEC23
Be taught extra: How you can Prep for 1099s in Your Rentec Direct Account
FAQ About 1099 Tax Varieties and Submitting 1099s with Rentec Direct & Nelco
The dwell coaching introduced up some actually good questions on submitting 1099 tax types.
When do it’s important to have the 1099 tax types to Nelco to get them filed?
8:00 PM Jap time on January thirty first. So long as you get to that checkout display screen in Nelco’s system and see the display screen that claims Congratulations by 8:00 PM Jap Time on January thirty first. Nelco will make sure that these types are printed and mailed to the recipients and efiled to the IRS.
Do it’s important to submit all of your 1099s on the similar time or are you able to do one or two at a time if it’s good to accumulate further info?
You’ll be able to submit one or two types at a time to Nelco. You don’t want to file all of your 1099 types on the similar time.
Housing authorities and voucher applications subject their very own 1099s to my purchasers. How would I appropriate the 1099 quantity previous to it being issued, since it will be primarily based on the entire rents obtained?
You can also make these corrections in Rentec Direct by going to the Utilities part in an effort to put together for submission inside Nelco. In Rentec you’ll be able to appropriate these numbers previous to submission. You have to to know your gross hire collected versus what the housing authority collected. Simply ensure that to regulate these numbers previous to submission.
If we’ve got so as to add an e-mail tackle to a 1099 recipient in Nelco, does that info get entered into Rentec mechanically?
No it doesn’t. If you happen to add an e-mail tackle in Nelco’s system, you’ll want to return and manually add it into the Rentec system.
How do I test to ensure I’m issuing 1099s to everybody that ought to obtain one?
Take a look at the 1099 Tax Assistant Report within the Reviews part of your Rentec software program. The 1099 Tax Assistant Report will present you all of the homeowners and distributors that obtained funds over $600 from you, as recorded in Rentec Direct’s software program. This report will show you how to confirm that each one your vendor and proprietor info is updated previous to submission with Nelco. You’ll be able to confirm addresses, contact info, and EIN numbers.