No, you will need to transfer the 1099 information to Form 1096 so that the values are updated.
More Information about Transferring 1099 Data
IRS Form 1096 is a summary tax report, which shows the totals from information returns, such as the 1099. In addition to sending 1096, you must also include 1099 forms if you have them. This information will inform the 1096 and ensure you have all the correct data on your Annual Summary and Transmittal of U.S. Information Returns. In essence, the 1096 is the catch-all form for all types of returns, including but not limited to the 1099, 1097, 1098, 3921, 3922, 5498, and W-2G.
Transferring 1099 data to 1096 form, however, is a simple process. Even if you do it manually, it shouldn’t take more than a few minutes. If you have to do this with your 1099s, or any of the other forms mentioned above, the process will be tedious but fast. Plus, it’s important to report correct information on your 1096, so take care to enter all data available.
W2 - 1099 Forms Filer Pricing
|AMS W2 & 1099 Software|
|Price $79 Order Here!|