Property Management, Tenant Selection, Real Estate News & Tips

E-File 1099-MISC Tax Documents Now Includes State Filing

By on November 3, 2016 in Product Updates with 0 Comments

e-file state taxProperty managers can meet their state’s tax requirements by using Rentec’s new 1099-MISC state e-filing features to automatically submit tax forms online.  New deadlines for 1099-MISC tax reporting means that you need to start getting your papers together now for the upcoming tax season.

You must file a 1099-MISC form for anyone who was paid more than $600 to in the course of a year that is NOT a corporation.  For property managers, they typically need to file 1099s for owners and independant contractors like repair men, landscapers, attorneys, etc.

New for 2016: State Tax Reporting for 1099s

If your state requires 1099-MISC filing, we’re making your life easier this year.

Our partnership with Nelco to electronically file 1099s now includes state reporting.   If you live in any of the following states, you can opt to have Rentec and Nelco automatically send the 1099s to your state tax agency so you don’t have to:

  • Alabama
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Georgia
  • Hawaii
  • Idaho
  • Kansas
  • Kentucky
  • Maine
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • New Jersey
  • New Mexico
  • North Carolina
  • North Dakota
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • Utah
  • Vermont
  • Virginia
  • Washington, D.C.
  • West Virginia
  • Wisconsin

Enabling state reporting is easy.  Just login and go to Settings, Your Contact Information.  Enter your state tax id, and electronically file your 1099s as normal.  When you go to electronically file your 1099s, the state forms will now be automatically done as well.  If you don’t want to report to the state, or prefer to do this manually, you can leave the state tax id field blank.

Learn More: E-File 1099-MISC Forms Directly Through Rentec Direct

Some states require reconciliation forms or summary forms when submitting 1099-MISC forms electronically, while other states do not.  The states that do not have reconciliation form filing requirements, might still have state filing requirements. If a reconciliation form is required to file, you will be prompted to enter any necessary data to properly submit the form from within the software. It might sound confusing, but Nelco software is designed to capture the information and make it easier for Rentec Direct clients.

About 1099 Tax E-filing with Rentec Direct

Rentec provides all PM clients with a 1099 Tax Assistant to easily compile the necessary data to complete 1099-MISC filing online with Nelco Solutions. Additionally, customers have access to a Web Reporting Center that offers an easy correction process for 1099-MISC forms if needed and will make filing forms as simple and smooth as possible.

To learn more about your rental tax obligations check out this article, 1099 Tax Requirements for Property Managers.

For a demo or more information of the filing capabilities in your management software, contact Nelco at 800-266-2669 or nelco@nelcosolutions.com

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About the Author

About the Author: Nathan is one of the founders of Rentec Direct and has been with the company since 2008. He has a passion for application security and spends an incredible amount of time ensuring your data is protected. When Nathan is not day-dreaming about 1's and 0's, you may also find him "tuning" the development schedule to get that next big feature in your hands sooner! .

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