TaxBandits Knowledge Base

How to file Form 1098-F with TaxBandits?

To e-file your Form 1098-F with TaxBandits, follow these steps for a hassle-free filing experience:

Step 1: Sign in to your TaxBandits account.

Step 2: Navigate to the 1099/W2 Dashboard.

 

Step 3: Click 'Start New Form' and select 'Form 1098-F.'

 

Step 4: Select the tax year for which you need to file the 1098-F form.

 

Step 5: Select your preferred method to enter details for filing Form 1098-F. You have three options to import your details:

1. Manual Entry - Choose this option if you would like to complete the form by manually entering the data in the respective fields. 
2. Bulk Import - This is recommended when filing a high volume of 1098-F Forms. We offer a wide range of bulk import options to choose from. See how they work

Here, we have chosen 'Manual Entry.' 

Step 6: Click on 'Add Filer' to add the filer details and click on 'Add Payer' to add the payer details. 

Note: If you have already added the filer details, click 'Select Filer from Address Book.'

 

Step 7: Enter the required information in the respective fields and click 'Save and Continue.' 

Step 8: You can review the summary of forms that are ready for federal filing. 

• You have the option to export the draft versions of the form as either PDF or CSV files. If errors are found, make the necessary changes in the CSV file and upload it back to our system using the bulk import option. 
• Use the 'Share with Client' option to share the forms with your clients via BanditConnect for their review.

 

Step 9: Proceed to 'Form Distribution,' select the type of form you want to be distributed, and continue. TaxBandits provides you with four options to send payer copies:

• Postal Mailing - We will print and deliver copies of the form to the payers via postal mail.
• BanditShare (Online Access) - The payers will be granted access to a secure online portal to view and download their form copies. 
• Advanced Distribution - Customize how many payers receive postal mail or online access based on your needs.

If you prefer to manage the form distribution on your own, choose 'I will print and distribute myself' and proceed further.

 

Step 10: Click 'Continue to Filing Summary' and review the form. You’ll have the following options here.

• Validations: You can opt for add-on services such as TIN Matching and USPS Address Validation. 
  • TIN Matching: Validate your vendor/payee TINs against IRS data to ensure accurate 1099 filings and prevent potential penalties.
  • USPS Address Validation: Verify all addresses entered on your forms through USPS Address Validation to confirm accuracy.
• Schedule Filing: You can either transmit the forms immediately or schedule them for a later date. If you schedule your forms, you’ll have the option to edit the information until the scheduled date.

 

Step 11: Add to cart, proceed to payment, and transmit the form. After transmission, track the status of your return in the 1099/W-2 dashboard.