1099R Software Features
1099R software is used by corporations, banks, retirement benefits providers, 1099 processing services, accountants and other businesses to print, process and eFile IRS 1099 retirement tax forms. Today we will discuss the features of W2 Mate software and how it compares to other 1099-R software applications.
If you are interested in W2 Mate (a powerful w2 and 1099 filing software) you can download a free demo from this page:
http://www.realtaxtools.com/W2-Mate.html
1099R Software Comparison Table
| Review Criteria (Rating): Excellent, Very Good, Good, Fair or Poor |
W2 Mate software capabilities |
| Print 1099-R Copy B For Recipient and Copy C For Payer on regular white paper | Yes |
| Print data on 1099-R copy A (for Internal Revenue Service Center) | Yes |
| Number of 1099 R recipients | Unlimited |
| Number of 1099 R payers such as plan custodians, corporations, government agencies, employers, payers, trustees, or plan administrators | Unlimited |
| Ability to generate form 1096 with box “1099-R 98” checked | Yes |
| Supports the different types of payments covered by form 1099-R including: IRA distributions , Life insurance contract distributions, Annuities, Loans, distribution from pension plan, Military retirement, Nonqualified deferred compensation Beneficiary, Charitable gift annuities, Pensions, Cost of current life insurance protection, Profit-sharing plan, Qualified plan distributions, Death benefits, Recharacterized IRA contributions, Roth conversion IRA contributions, Direct rollovers, Royalties, Section 1035 exchange, Severance pay, and SIMPLE distributions, | Yes |
| Support for the following 1099 R boxes: 1 Gross distribution, 2a Taxable amount, Total distribution, Employee contributions /Designated Roth contributions or insurance premiums and 6 Net unrealized appreciation in employer’s securities. | Yes |
| Support for the following distribution codes: 1: Early distribution, no known exception, 2: Early distribution, exception applies, 3: Disability., 4: Death., 5: Prohibited transaction., 6: Section 1035 exchange and 7: Normal distribution, 8, 9, A, B, E,F, G, H, J, L, N, P, Q, R, S, T, U and W. | Yes |
| 1099R import from Intuit QuickBooks accounting software | Yes |
| 1099R import from Sage Peachtree | Yes |
| 1099R import from Sage DacEasy | Yes |
| Support for the following boxes: 9a Your percentage of total distribution, 9b Total employee contributions, 10 Amount allocable to IRR within 5 years, 11 1st year of desig. Roth contrib., 12 State tax withheld and State distribution. | Yes |
| 1099R import from Microsoft Dynamics (Great Plains) | Yes |
| Data import from Microsoft Excel and Comma Separated Value (CSV) files | Yes |
| Support for 1099-R electronic filing. Compliance with IRS publication 1220 by populating Code “9” under “Type of Return” in Payer “A” Record and proper values under positions 544-750 for Payee “B” Record. The 1099-R electronic submission should also support all types of distribution codes under position 545-546: 1, 2, 3, 4, 5, 6, 7, 8, 9, A, B, D, E, F, G, H, J, L, N, P, Q, R, S, T, U and W. | Yes |
| Ease of Use: 1099-R software that is intuitive, easy to understand and has simple data entry screens. | Very easy and simple to use |
| Ability to create 1099R printing labels | Yes |
| Includes 1099-R instructions such as: what to Report (Distributions from retirement or profit-sharing plans, any IRA, insurance contracts, and IRA recharacterizations.), amounts to report ($10 or more). | Yes |
| FREE Customer Support | Free technical support by phone, email and chat |
| Data Backup: Allows the user to backup and restore 1099 R data and records. | Yes |
| Data Export: Exports 1099-R data to excel including Box 1. Gross distribution, Box 2a. Taxable amount, Box 2b. Taxable amount not determined, Box 2b. Total distribution, Box 3. Capital gain (included in box 2a) and so on. | Yes |
| Email Support: Some 1099-R software vendors provide email support. Usually free of charge. | Yes (free) |
| 1099R Tutorials: Many vendors include tutorials, which walk the user through 1099-R printing and electronic filing editing step-by-step. | Yes |
| FAQs / Knowledgebase: Provides a FAQs page on the website to answer common questions about the pensions, annuities and retirement software. | Yes |
| Phone Support: Provides customer service and technical support by phone free of charge. | Yes (free) |
| Live Chat Support: live chat button support where you can receive instant answers to your questions such as how to setup a 1099-R recipient and so on | Yes (free) |
| Help Documentation | Yes |
| 1099 R Software Supported Configurations | Windows 98, Me, 2000, XP, 2003 Server, Vista, Windows 7. |
| Supports MAC operating system | No, but you can use a solution for running Windows 1099-R applications on your Mac such as Parallels |