fyllyoPaid out isn’t gross
A processor’s statement lists gross sales, refunds, fees and the net amount paid out, and the bank shows the deposits. Software can copy the net figure or the deposits into boxes labelled gross.
TAX FORMS · IRS · BUILT IN
Fill Form 1099-K with AIPayment Card and Third Party Network Transactions
Add the filer’s reporting profile, the payee’s W-9, the monthly transaction schedule and any correction papers. Fyllyo fills Form 1099-K on your Mac. Anything the documents disagree on is left for you, with the reason.
Where AI form filling goes wrong on Form 1099-K
Form 1099-K is built from a payment company’s own records: ledgers, payout reports, W-9s and correction memos, and most of them give several amounts for the same month. The trouble starts where software has to pick the right one, keep two accounts apart, or check that the parts add up. These are the common places AI tools and autofill get it wrong. What the form requires is for the IRS to say. Follow its instructions. IRS instructions for Form 1099-K.
Twelve months that don’t add up to the year
Box 1a is the year’s total and boxes 5a to 5l split it by month. When a memo’s annual figure and the monthly schedule disagree, software that copies one, or adds up the other, fills a number nobody checked.
Card and network payments on one form
One payee can have a card account and a payment-network account with the same company, and their ledgers sit side by side in the file. Software can add both into one form or tick both transaction boxes.
A correction full of old numbers
A correction file shows the originally reported figures beside the replacements, and it’s dated the year after the one it reports. Software can copy the superseded amounts, put the paperwork’s year in the calendar-year box, or miss the CORRECTED box.
A PSE box when the filer is the PSE
The form has a box for a PSE’s name and phone. Processor files also name sponsor banks and payout banks, so software can fill that box with the filer’s own name or a bank’s.
The W-9’s old address
The W-9 on file can be years old. When the payee has moved, and the file also holds a shop address and the bank’s, software can copy the W-9 address onto the payee’s statement.
How Fyllyo takes care of them
With a test client and eight documents (a reporting profile, a W-9, an address change, a corrected monthly schedule, a correction authorization, a withholding register, a payment-network summary and a bank deposit summary), Fyllyo filled 72 fields across the form’s three copies in 27 seconds. It left box 1a for the preparer, with both amounts.
- Paid out isn’t gross. Reads each month’s gross amount, never the payouts or the bank deposits. In the test, January was 11,200, not the 10,729 paid out.
- Twelve months that don’t add up to the year. Adds up the twelve months itself and compares the sum with the annual figure in the documents. In the test they differed by a transposed digit, so box 1a was left empty with both amounts.
- Card and network payments on one form. Reads only the account and transaction type named for this return, ticks that one box, and keeps the other account’s figures off.
- A correction full of old numbers. Ticks CORRECTED when the documents say the return is a correction, uses the replacement figures, and takes the calendar year of the return, not the date of the papers.
- A PSE box when the filer is the PSE. Ticks the PSE box when the filer is the PSE and leaves the PSE name box empty, with no bank in it.
- The W-9’s old address. Uses the accepted change of address over the W-9 address it replaces, even on a correction for an earlier year.
How much of a Form 1099-K does Fyllyo fill?
Fyllyo can fill all 112 fields on Form 1099-K from the client’s documents. Lines the documents don’t support stay blank and are listed for you to check.
You confirm on every form
- Payee's name
- Payee's TIN
- Gross amount of payment card/third party network transactions
- Gross transaction amount
- Federal income tax withheld
- and 3 more
What do you give Fyllyo?
Fyllyo reads the documents you already have. These can be PDFs, scans, photos, Word files or typed notes, and you can add several at once. Fyllyo works out which document answers which line.
Client data stays on your Mac
Client documents and the filled form never leave your computer. Fyllyo uploads nothing. Once it is set up, filling works offline.
What Fyllyo doesn’t do
Fyllyo doesn’t decide what to file, give legal or tax advice, or submit Form 1099-K for you. Use the IRS’s instructions for Form 1099-K and your professional judgement. Fyllyo does the reading and the typing.
What if a document is a scan or a photo?
Fyllyo reads scans and photos as well as PDFs, Word files and typed notes. Clear, readable copies give the best results, and every answer on Form 1099-K still shows the line it came from.
Fill your next Form 1099-K on your Mac
Try form filling free for 5 days. Then buy Fyllyo Paid once for $99. It is a lifetime licence with free updates and no subscription. Filling forms on your Mac uses no AI credits. Pricing and licence details.