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Form 1099

Using the REVIEW Menu

The
REVIEW
 menu provides enhanced views of the information reporting and processing information for accounts that process 1099, 5498 and 1098 forms. The views can help you:
  • Review the processing diagnostics that are currently available in the
    1099 Filing Review
    ,
    5498 Filing Review
     and
    1098 Filing Review
     registers.
  • Analyze accounts marked for 1099, 5498 or 1098 processing to determine whether they have any transactions or sales of assets that are held for review for the tax year and/or transactions in tax code 997 (Hold for Review).
  • Review changes to recipient documents to determine whether it is necessary to prepare and file corrections.

Information Reporting Diagnostics Dashboard

The Information Reporting Diagnostics graph (or diagnostics dashboard) displays by default when you select
REVIEW
. This graphical view displays the processing diagnostics currently available in the
1099 Filing Review
,
5498 Filing Review
 and
1098 Filing Review
 registers. It shows:
  • The count of diagnostics by type (payers, recipients, and forms) and by diagnostic category (severe and informational).
  • The count of records with no diagnostics.
Only forms that include processed data are represented in the diagnostics dashboard. For example, if tax deferred accounts are not processed in the PAN then the forms related to tax deferred accounts are not displayed in the diagnostics dashboard.
Diagnostic categories (severe, informational an no diagnostics) display for each diagnostic type (payer, recipient, and forms). Orange represents severe diagnostics, yellow represents informational diagnostics, and green represents records with no diagnostics. The number of diagnostics for each category and type displays above each bar. To view the text translation for a bar, hover your mouse over the bar. In the graphic above, the mouse hovers over the recipient informational diagnostics bar and shows that there are nine informational diagnostics for recipients.
You can remove a diagnostic category from the graph by selecting one or more legend references. For example, selecting the
None
 legend reference removes the records with no diagnostics (the green bars) from the graph.
note
The information displayed and the changes to the type of diagnostics displayed are for the current session only. Leaving the diagnostics dashboard then accessing the dashboard again resets the dashboard to the default setting.
Form and Recipient Diagnostic Detail Views
From the diagnostics dashboard, you can access the following:
  • The form diagnostic detail view
  • The recipient diagnostic detail view
Above the diagnostics dashboard, select View form diagnostic details to access the form diagnostic detail view or select View recipient diagnostic details to access the recipient diagnostic detail view.
The form diagnostic detail view combines the diagnostics by account and form, and the recipient diagnostic detail view combines the diagnostics by account and recipient. Both detail views allow you to review the all the diagnostics for an account in one view rather than opening multiple registers. Payer diagnostics are not detailed in the detail views because payers are not specific to an account. Use the
Payer Listing
 register to review payer diagnostics.
The form diagnostic detail view and the recipient detail view have the same features.
The grid rows shown in the detail grid represent data for each form or recipient. The recipient information is repeated on each row if there are multiple 1099-B records for a recipient. If corrections were processed, the original filing information also displays.
note
Changes to either view are for the current session only. Leaving a view then accessing the detail view again resets the page to the default settings.

Accounts without Processing Holds and Accounts with Processing Holds

The
REVIEW
 menu includes topics that allow you to analyze accounts marked for 1099, 5498 or 1098 processing to determine whether they have any transactions or sales of assets that are held for review for the tax year or transactions in tax code 997 (Hold for Review). The topics include:
  • Accounts without Processing Holds
    -Displays a detail grid that includes accounts that do not have any transactions or sales for assets that are held for review or transactions in tax code 997 (Hold for Review).
  • Accounts/Assets with Processing Holds
    -Displays a detail grid that includes accounts that have transactions or sales for assets that are held for review or transactions in tax code 997 (Hold for Review). You can view the detail by account or by asset.
note
Changes to how the detail grids are displayed are for the current session only. Leaving a detail grid then accessing the view again resets the view to the default setting.
View by PAN and View by Return Types Detail Views for Accounts without Processing Holds
The
Accounts without Processing Holds
 topic allows you use one of the following views to analyze accounts that do not have assets that are marked as held for review:
  • View by PAN
  • View by return types
The default view is view by PAN. To switch to the view by return types, select Switch views (located above the detail grid).
Both the view by PAN and view by return types have similar features. The following graphic shows the features using the view by PAN:
If you license ONESOURCE Trust Tax Tools, you can edit the
Account Status
 column (not shown in the graphic above). Currently, updates are made on an account-by-account basis (no bulk updates are available). The view by PAN view allows you to update all applicable account statuses for the selected account, and the view by return type allows you to update the account's account status for the return type. To edit the
Account Status
 column from either view, select Edit in the
Action
 column, select the status then select
Save
.
note
Changes to either view are for the current session only. Leaving a view then accessing the view again resets the page to the default settings.
View by Accounts and View by Assets Detail Views for Accounts/Assets with Processing Holds
The
Accounts/Assets with Processing Holds
 topic allows you to analyze accounts with held assets using one of the following views:
  • View by accounts
  • View by assets
The default view is view by accounts. To switch to the view by assets, select Switch views (located above the detail grid).
Both the view by accounts and view by assets have the same features.
note
Changes to either view are for the current session only. Leaving a view then accessing the view again resets the page to the default settings.

Compare Projection to Return

The
Compare Projection to Return
 topic applies to Forms 1099-DIV, 1099-INT, 1099-OID and 1099-B (collectively referred to as 1099 DIOBs), and to Form 1099-R beginning with tax year 2020. The topic compares values from a tax return compute with a subsequent tax return projection compute. This can help you review changes to recipient documents to determine whether it is necessary to prepare and file a correction.
The
Compare Projection to Return
 topic includes two views:
  • View by accounts
  • View by forms
The default view is view by accounts. To switch to the view by forms, select Switch views (located above the detail grid).
Both the view by accounts and view by forms have similar features.
The amounts displayed in the view are the amounts presented on the Consolidated Forms page in the Enhanced 1099 document. The following applies to the view:
  • Only the 1099 DIOB boxes with differences are displayed.
  • The
    Distribution Code
     row in the grid is for Form 1099-R.
    Not Applicable
     shows for 1099 DIOB forms.
  • An account is not displayed if no tax return projection was processed or if a tax return was processed after the tax return projection.
  • A new recipient is not displayed if the recipient was added between processing the tax return and the tax return projection. Only recipients existing at the time the tax return was processed are displayed.
note
Changes to either view are for the current session only. Leaving a view then accessing the view again resets the view to the default setting.
Entering De Minimis Values
You can limit the accounts displayed in the detail grid in the
Compare Projection to Return
 topic by entering threshold (or de minimis) values in the following fields:
  • Apply this de minimis to each form box
  • Apply this deminimis to Qualified Dividends (Form 1099-DIV, box 1b)
You can enter de minimus values in one or both fields. Enter only positive, whole dollars. Select Apply to apply the de minimus values you entered to the form boxes. The de minimis values are applied regardless of sign. For example, if you entered 10 (which represents $10.00) and a difference of negative $10.00 exists, then the de minimis test is met and the account displays in the detail grid.
The following list describes how de minimis values are applied:
  • If you entered a value in each field, the lower value is applied to qualified dividends.
  • If you entered a value in only the
    Apply this de minimis to Qualified Dividends (Form 1099-DIV, box 1B)
    field, only qualified dividends are evaluated.
  • If you did not enter a value in the
    Apply this de minimis to Qualified Dividends (Form 1099-DIV, box 1B)
     field, then the value you entered in the
    Apply this de minimis to each form box
     field is applied to qualified dividends.
After the de minimus value(s) are applied, the rows in the detail grid are updated to display the accounts that contain differences and that meet the de minimis value. When any 1099 box meets the de minimis value, all the rows with a difference for a given account display (not just the rows that met the de minimis value). If no values are entered in the de minimis fields, all of the rows within the account that contain differences display.
Select Apply to refresh the detail grid and clear any filter or sorting selections. Entries in the search bar and selections in the
Show/Hide Columns
 drop-down list are retained.
note
Selecting Refresh to refresh the detail grid does not clear the values entered in the de minimis fields. To clear the values, delete the existing de minimis values then select Apply.

Navigating Detail Views

When you open a detail view, the grid is collapsed at the account, asset, recipient or form level. Select the + sign to expand the data for a row. Select the minus sign to collapse an expanded row. Select Expand or collapse all rows on the page (above the detail grid) to expand or collapse all the rows on the page. When the grid rows are expanded, you can access the account binder by selecting the account link. To return to the detail view from the account binder, select the
REVIEW
 menu. By contrast, if you select the account breadcrumb, the navigation is reset and you are returned to the Information Reporting Diagnostics graph.
The filter, sort, page count, page size and search settings are retained when you return to the
REVIEW
 menu from the account binder. The
Group Panel
 area, the
Show/Hide Columns
 drop-down list, and the expand or collapse settings are not retained.
The detail views include the page navigation and page count below the grid and on the left. A drop-down list for selecting the number of rows to display per page as well as the total number of detail rows is included below the grid and to the right. The default number of rows displayed per page is 100. You can change the number of rows displayed to 50, 500, 1000 or All for the following:
  • The detail views in the
    Information Reporting Diagnostics
     topic.
  • The
    Accounts without Processing Holds
     topic.
  • The detail views in the
    Compare Projection to Return
     topic.
The row count represents the detail as fully expanded. Fewer rows display when the data is collapsed. Collapsing the data does not increase the number of collapsed rows included on a page.
While in a detail view, you can switch (or toggle) to the other detail view by selecting Switch views, which is located above the grid. If you are reviewing processing diagnostics, you can return to the diagnostics dashboard by selecting .
Navigating to Other PANs in a SuperBank Association
For all topics in the
REVIEW
 menu, the view by accounts view provides the ability to navigate to other PANs when the PANs are in a SuperBank association that is associated for register data. When you are logged into a PAN that is in a SuperBank association, you will see a
PAN
 link next to the title of the view.
Selecting the
PAN
 link displays the Associated PAN pop-up window, which includes all the PANs in the SuperBank association.
In the Associated PAN pop-up window, select the PAN you want to navigate to. The grid data in the view by accounts view is refreshed with the data from the selected PAN only. The data is no longer consolidated from multiple PANs.
As with SuperBank registers, the logged in PAN shown in the main navigation area is updated when you select an account link to access the account binder.

Searching for Data in the Detail Grids

Use the search bar (located above the grid) to find data in the grid. Partial searches (when you enter only part of what you are searching for) are supported. For example, entering "691" in the search bar finds all accounts that contain the numbers, 691.

Grouping Columns in the Form and Recipient Diagnostic Detail Grids

When you are viewing form and recipient diagnostic details, you will see the
Group Panel
 area below the search bar. This area includes the grouping columns for the grid view. The default grid view is grouped by the
Account Number
 and
Recipient TIN
 columns. To add a column to the
Group Panel
 area, drag the column from the column header of the grid then drop it in the
Group Panel
 area.

Showing or Hiding Columns in the Detail Grids

You can select or deselect the columns to display in a detail grid during a session by selecting the
Show/Hide Columns
 drop-down list then selecting or deselecting the check boxes for the columns you want to show or hide. Columns that are currently displayed in the detail grid have a check mark in the corresponding check box. Columns that are currently hidden do not have a check mark.

Filtering and Sorting Columns in the Detail Grids

In the detail grids, the column header includes a
Filter
 down arrow for each column. Selecting the down arrow displays a pop-up where you can:
  • Set the sort order to ascending or descending for the data in the column.
  • Apply filters by condition or by value for the data in the column.
  • Remove the applied filters from the column.
The following graphic shows the Filter pop-up for the
Account Number
 column in the form diagnostic details grid:

Exporting the Data on a Grid Page

In the detail views, select Export data displayed on the grid page to Microsoft Excel to export the data displayed on an individual grid page to Microsoft Excel. The format of the exported file is: PAN_FeatureName_Date_Time. For example, if you exported the data shown in the
Compare Projection to Return
 topic for PAN 558L, the exported file name would be: 558L_Compare_Projection_To_Return_1162021_12544.

This article applies to:

  • PRODUCT: ONESOURCE Trust Tax