The purpose of this article is to provide information about the 1099 report in MyRacePass.
Because MyRacePass is a cloud-based system, we do not have the ability to securely store a Social Security Number or Federal Tax ID. We are working to address this, but in the meantime we offer some suggestions for working with 1099 forms in MyRacePass.
MyRacePass users can easily track team and driver payout. If you are fully utilizing the MRP Race Management system, you will already have recorded your payouts from printing payout checks or calculating points each week. The system automatically keeps track of the payments made to each driver during the year.
Export Payout Report as an Excel Spreadsheet
Driver and team addresses are stored in the system when entered in online registration, sanction management or back gate entry. At the end of the year, you can export the Yearly Payout Report to Excel. That report has the addresses from the contact list along with the payments made through the year to competitors or owners. This can then be merged with another spreadsheet containing the social security or federal tax ID numbers.
You will then have a list that can be imported into your tax or accounting software. Below are some example links for 1099 tax helper software.
Inexpensive 1099 Software Programs & Options:
- Real Tax Tools (Purchase W2 Mate and W2 Mate Option #3)
- List of Other Options & Help Links
- IRS.gov 1099 Information