How do I create Form 1099-CAP?

Creating Form 1099-CAP

  1. Click on the Payer List button.
  2. Double click on the payer name.
  3. Highlight the recipient to add the form to.
  4. Click on the Add Form button.
  5. Choose 1099-CAP from the Form Type drop down menu.
  6. Fill in the necessary fields on the form:
    • Corrected:  Check this box if it applies.
    • Date of Sale or exchange:  Enter date the stock was exchanged for cash, stock, or other property.
    • Aggregate Amount Received:  Amount of cash and property received in the exchange for the stock held.
    • No. of shares exchanged:  Number of shares that were exchanged in the transaction.  
    • Classes of stock exchanged:  Class or classes of stock that were exchanged.  
    • Account Number:  A number assigned to recipient by the payer.  This field is optional except for the following cases:
      • The recipient has multiple returns for the same return type.
      • The returns are filed using the E-file Center.
  7. Click Save. 
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