Microsoft Dynamics AX Support

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Dynamics AX – 1099 Tax Updates for 2016

Hello everyone, I thought I’d get the changes we’ve made in the 2016 tax year update posted.

Supported versions:

Version: AX 5.0 (Microsoft Dynamics AX 2009)
Hotfix: 3199354
Hotfix server: http://hotfixv4.microsoft.com/Microsoft%20Dynamics%20AX%202009/nosp/KB3199354/5.0.1600.3841/free/494462_intl_x64_zip.exe
Hotfix server: http://hotfixv4.microsoft.com/Microsoft%20Dynamics%20AX%202009/sp1/KB3199354/5.0.1600.3841/free/494469_intl_i386_zip.exe (SP1)

Version: AX 6.0/6.1 (Microsoft Dynamics AX 2012)
Hotfix: 3199354
LCS: https://fix.lcs.dynamics.com/issue/results/?q=3199354
Hotfix server: http://hotfixv4.microsoft.com/Microsoft%20Dynamics%20AX%202012/nosp/KB3199354/6.0.1108.8836/free/494414_intl_i386_zip.e

Version: AX 6.2 (Microsoft Dynamics AX 2012 R2)
Hotfix: 3199354
LCS: https://fix.lcs.dynamics.com/issue/results/?q=3199354
Hotfix server: http://hotfixv4.microsoft.com/Microsoft%20Dynamics%20AX%202012%20R2/nosp/KB3199354/6.2.3000.3060/free/494346_intl_i386_zip.exe

Version: AX 6.3 (Microsoft Dynamics AX 2012 R3)
Hotfix: 3199354
LCS: https://fix.lcs.dynamics.com/issue/results/?q=3199354
Hotfix server: http://hotfixv4.microsoft.com/Microsoft%20Dynamics%20AX%202012%20R3/nosp/KB3199354/6.3.5000.193/free/494257_intl_i386_zip.exe

Version: AX 7.1 (Microsoft Dynamics 365 for Operations)
Note: The 1099 updates were encompassed in Application version 1611 (7.1.1541.3036)

Electronic file changes

1. 1099-INT – Payer record ‘A” record added Amount code E, “Bond premium on Treasury obligations” was added.
2. 1099-OID – Payer record ‘A” record added Amount code 5, “Bond premium ” was added.

1099-OID

1. For Box 8, the 2016 box has changed in sizing and as a result, alignment has shifted.
2. Box 10 is new. Label reads “Bond premium”.
3. All later boxes (after 10) are renumbered.

4. 2015 Boxes 10, 11 and 12 are now 2016 Boxes 11, 12 and 13.
5. Update 1099 fields.

1099 box Description Minimum amount Tax form type
OID-10 Bond premium 0.01 1099-OID


6. Upgrade 1099-OID transactions dated 1/1/2016 and forward for the following.
a. Vendors with 1099 box set to OID-12 will have 1099 box updated to box 13.
b. Transactions with box OID-12 must have the 1099 box updated to box 13.
7. Should not need an upgrade for these since the previous 1099 boxes were not stored as 1099 fields.
a. 1099 box OID-10 was updated to 1099 box OID-11.
b. 1099 box OID-11 was updated to 1099 box OID-12.


1099-INT

1. New Box 12 “Bond premium on Treasury obligations” was added.
2. Update 1099 fields

1099 box Description Minimum amount Tax form type
INT-12 Bond premium on treasury obligations 0.01 1099-INT

3. Should not need an upgrade for the new box. No other box numbers changed

John Bengson