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configuration seetings for implementing 1099-S Real estates transactions for 2016

Hello Experts,

Currently my client is using 1099-MISC for WHT reporting to IRS both federal and state ( for vendors having more than $600 transaction) using Smartform for output. And now client want to implement 1099-S form in addition to old forms to report IRS for real estate/ property acquisition related transactions. Kindly share the configuration documents for implementing1099-S and what are the prerequisities I need to perform before doing config change ?

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1 Answer

  • Nov 09, 2016 at 04:51 PM

    Hello,

    I hereby confirm with the developers from 1099 that the IRS form 1099-S for 2016 is currently out-of-scope and unfortunately, there is no plan to include it in roadmap at least, in the foreseeable future. You can however raise the requirement to ASUG Group, who will prioritize it with other requirements through the ASUG Influence Council. You can reach available information thru SAP Service Marketplace

    > http://service.sap.com

    > http://www.sap.com/services/portfolio/customdev/index.epx

    > https://service.sap.com/influence

    Currently SAP is supporting the following forms: 1099MISC, 1099MISC1, 1099INT, 1099K, 1042S, 1042S1 and 1099G.

    Kind Regards,

    Manuela Valente

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