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Form 1098 field/line | Accounting CS Data location | Accounting CS field | Notes |
---|---|---|---|
RECIPIENT'S/LENDER'S name | Select Setup , then Clients , then the Main tab. | Payroll name | |
RECIPIENT'S/LENDER'S street address, city or town, state or province, country, ZIP or foreign postal code, and telephone no. | Select Setup , then Clients , then the Main tab. | Business address line 1 | If the client has separate mailing and taxing addresses, make sure that you select Business from the Addresses dropdown list for the address that should appear on this form. |
RECIPIENT'S/LENDER'S TIN | Select Setup , then Clients , then the Main tab. | EIN/SSN | |
PAYER'S/BORROWER'S TIN | Select Setup , then Vendors , then the Main tab. | EIN/SSN | |
PAYER'S/BORROWER'S name | Select Setup , Vendors , then the Main tab. | Vendor name | |
Street address (including apt. no.) | Select Setup , Vendors , the Main tab, then Business address . | Business address line 1 | If the vendor has separate mailing and taxing addresses, mark the Mailing address for the address that should appear on this form. |
Street address (including apt. no.) | Business address line 2 | ||
City or town, state or province, country, and ZIP or foreign postal code | City | If this is a foreign state or country not available in the dropdown list, you will need to go to Actions , then Edit Payroll Tax Forms to override this information. | |
State | |||
Zip | |||
County | |||
Box 1. Mortgage interest received from payer(s)/borrower(s) | Select Actions , Enter Transactions , Check , then the Distributions tab. | 1099 (drop down) | Choose a 1099 item from the drop down that contains box 1. To set up, go to Vendors , then the 1099 Properties tab.Alternatively, go to Actions , Edit Payroll Tax Form , then the Recipient Data tab to override the data. |
Box 2. Outstanding mortgage principal | Select Actions , Enter Transactions , Check , then the Distributions tab. | 1099 (dropdown) | Choose a 1099 item from the dropdown that contains box 2. To set up, go to Vendors then the 1099 Properties tab. Alternatively, go to Actions , Edit Payroll Tax Form , then the Recipient Data tab to override the data. |
Box 3. Mortgage origination date | Select Actions , Enter Transactions , Check , then the Distributions tab. | 1099 (dropdown) | Select the ellipsis button next to the 1099 item you chose to open the 1099 Details, then select the Mortgage Origination Date .Alternatively, go to Actions , Edit Payroll Tax Form , then the Recipient Data tab to override the data. |
Box 4. Refund of overpaid interest | Select Actions , Enter Transactions , Check , then the Distributions tab. | 1099 (drop down) | Choose a 1099 item from the drop down that contains box 2b. To set up, go to Vendors then the 1099 Properties tab. Alternatively, go to Actions , Edit Payroll Tax Form , then the Recipient Data tab to override the data. |
Box 5. Mortgage insurance premiums | Select Actions , Enter Transactions , Check , then the Distributions tab. | 1099 (drop down) | Choose a 1099 item from the drop down that contains box 2c. To set up, go to Vendors then the 1099 Properties tab. Alternatively, go to Actions , Edit Payroll Tax Form , then the Recipient Data tab to override the data. |
Box 6. Points paid on purchase of principal residence | Select Actions , Enter Transactions , Check , then the Distributions tab. | 1099 (drop down) | Choose a 1099 item from the dropdown that contains box 2d. To set up, go to Vendors then the 1099 Properties tab. Alternatively, go to Actions , Edit Payroll Tax Form , then the Recipient Data tab to override the data. |
Box 7. If address of property securing mortgage is the same as PAYER'S/BORROWER'S address, check the box, or enter the address or description in box 8. | Select Actions , Enter Transactions , Check , then the Distributions tab. | 1099 item Ellipsis Button | Select the ellipsis button next to the 1099 item you chose to open the 1099 Details, and mark the Same Securing Mortgage Address checkbox..Alternatively, go to Actions , Edit Payroll Tax Form , then the Recipient Data tab to override the data. |
Box 8. Address or description of property securing mortgage (see instructions) | Select Actions , Enter Transactions , Check , then the Distributions tab. | 1099 ellipsis button. | Select the ellipsis button next to the 1099 item you chose to open the 1099 Details, then enter the description and address of the property. Alternatively, go to Actions , Edit Payroll Tax Form , then the Recipient Data tab to override the data. |
Box 9. Number of properties securing the mortgage | Select Actions , Enter Transactions , Check , then then Distributions tab. | 1099 ellipsis button. | Select the ellipsis button next to the 1099 item you chose to open the 1099 Details, then the number of mortgaged properties. To set up, go to Vendors then the 1099 Properties tab.Alternatively, go to Actions , Edit Payroll Tax Form , then the Recipient Data tab to override the data. |
Box. 10 Other | N/A | N/A | The Other field does not have a data entry point in Accounting CS . If you need to utilize Box 10 on the 1098, you can add a text box or a custom field to the form within the Layout Editor. |
Box 11. Mortgage acquisition date | Select Actions , Enter Transactions , Check , then the Distributions tab. | 1099 ellipsis button. | Select the ellipsis button next to the 1099 item you chose to open the 1099 Details, then the Mortgage Acquisition Date. Alternatively, go to Actions , Edit Payroll Tax Form , then the Recipient Data tab to override the data. |
Account number (see instructions) | System Calculated field. | N/A | The application populates the Account number field on Form 1099 with a unique account number to ensure that any Form 1099 corrections can be correctly tracked. This field cannot be overridden on the form with another account number. According to theIRS general instructions for certain information returns.the account number may be a required field. Accounting CS populates this field automatically with a unique number for filing purposes. |