How can we generate a 1099-DIV out of Oracle AP?
Summary:
The client manages dividend payments from their current AP system. The dividend payments are based on setting up stockholders as suppliers and the dividends are paid directly out of their AP system. How can the client use AP to generate the 1099-DIV reporting out of Oracle Cloud AP? I understand that 1099-DIV form is not available out-of-the-box from Oracle and would like to understand our options.
Is the Income Tax Type Code 'MISC8 - Payments in Lieu of Dividends and Interest' the correct income tax type code for mapping such payments or this Income Tax code is mapped to an existing 1099-MISC, 1099-NEC or 1099-G forms that are supported out-of-the-box from Oracle.
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