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How to File 1099 Form In QuickBooks Online

How-to-File-1099-Form-In-QuickBooks-Online

QuickBooks Online has a time saving feature to help you prepare your 1099s. 1099s are the tax forms you need to file with the IRS when you pay contractors in cash. See What is a 1099 and do I need to file one? for more general information.

Learn How To Use QuickBooks Online To Create and Submit Your Form 1099

  • Visit Companies or Employers.
  • Choose Let’s get started, then choose Prepare 1099s.
  • Verify that the information on tax notices or letters from the IRS matches the information for your company’s name, address, and tax ID.
  • Next, after choosing the boxes that correspond to the different types of payments made to all of your contractors this year.

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    Important: Be careful when selecting your boxes because there have been modifications to the 1099 forms. The majority of firms will select “Non-employee compensation” but if you believe you may have made other sorts of payments, check with your accountant.

    • Make sure all of your employees arrive and that their contact information, including their email address, is accurate.
    • For each box you chose in step 4, check the payment totals. Both 1099-NEC and 1099-MISC forms will automatically receive their respective parts of the payments. Choose Next.

    Read This: QuickBooks 1099 Forms

    Note: You won’t be able to see the electronic payments you made to contractors (such as by credit card, etc.). This is so that the credit card company, bank, etc. may report them on your behalf. You can double check the year and threshold directly above the Name column if you don’t see all of the expected payments.

    • To have me e-file your 1099s, choose E-File. If you prefer to print and mail the forms yourself, choose I’ll file myself.

    Frequently Asked Questions

    1. Where Do I Send a Correction?

      To manually update your 1099 forms, you will have to communicate with the IRS directly. To do so, follow these IRS requirements. See Correct mistakes on Forms 1099-MISC for further information. You must submit the revised return to the receiver or contractor yourself once it has been rectified.

    2. Do You Submit 1099 Forms To The Federal or State Governments?

      While the IRS and the recipient must receive copies of every 1099 form, certain states also require that the Department of Revenue receive files of specific forms. We expect changes to some states’ filing requirements as the 1099-NEC will be included in the system for Combined Federal and State Filing in tax year.

    3. Can I view previously submitted or archived forms?

      Yes, From your QuickBooks Online account, you may always access 1099 forms from January 1 through April 30 that have been archived or previously submitted.
      1. Head over to QuickBooks Online.
      2. Click Payroll Tax, followed by 1099 Filings.
      3. Choose View 1099 to see a PDF version.

    4. What distinguishes the 1099-MISC and 1099-NEC forms?

      1. These days, independent contractor income is filed using the 1099-NEC form. 
      2. However, the 1099-MISC form is still in use; it is just used to identify other types of income, such as rent or payments.
      3. Contractor payments and after will be reported on the form 1099-NEC, even though the 1099-MISC is still in use.

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