I am a broker and 2009 was not the best year so I am doing some things on my own to save some money. Just dont have the thousand as before to pay for everything. So I am doing the 1099 for the agents. Can anyone give me any advice on what I dont want to miss out on when I send everyone their 1099? My tax preparer would charge $25 per 1099 so I will be saving almost $400 this year if I do it myself with all the 1099s I have to send out. I know I need to send copies to the IRS, but not sure WHERE and what forms to put with it? Any advice. Thanks Agents Online

I'm not an accountant, but this IRS link may be helpful:

http://www.irs.gov/efile/article/0,,id=98114,00.html

You can also just call the IRS. Have fun

I am looking for a program so I can prepare my own.

Any suggestions?

Now that the broker is required to 1099 the selling agent on all listings, how do you prevent double 1099s?

I do mine at filetaxes.com It costs about $3.50 for each one but they snail mail it to the agents and the IRS. They keep a copy in your account that you can reprint and it archives them from year to year so you can always go back and look at them again..Great Service. I have to do my 1099's tomorrow.

I do mine at filetaxes.com It costs about $3.50 for each one but they snail mail it to the agents and the IRS. They keep a copy in your account that you can reprint and it archives them from year to year so you can always go back and look at them again..Great Service. I have to do my 1099's tomorrow.

Question re 1099's - does everyone 1099 contractors if you paid them directly and were reimbursed by the AMC?
I'm getting 1099's directly from the AMC for expense reimbursements for bills I paid directly ie electric, water, general contractors, even sod replacement. Quite a lot of $!

If you use Quick Books the forms can be done from the program. Of course if you don't have quick books I can't help. Took me all of 3 minutes to print all copies, sort, mail and file. My agents got there 1099's by the 8th of the month!

Thanks for the tip! I used filetaxes.com for the first time and it was really quick and looks way more official than my hand written triple copies!

I did not get all the responses that soon so I sent to the accountant. Thanks everyone. I will be looking at filetaxes.com