As a business person, you might be familiar with the regulation that the internal revenue service (IRS) requires businesses to file a Form 1099-NEC for any non-employee that withheld any federal income tax from under the backup withholding rules or get paid 600$ or more in cash during the previous year. It is seen that many users face a lot of issues while creating and filing 1099s form in QuickBooks Online. Therefore, we have come up with this post through which we will explain everything that you need to know about QuickBooks Online 1099 form.
Looking for expert assistance to create and submit QuickBooks Online 1099 form? If yes, don’t hesitate to reach our QuickBooks professionals by dialing 1.800.579.0391 and get assisted immediately.
Steps to create 1099 forms in QuickBooks Online:
- At first, sign in to QuickBooks Online.
- Select the Payroll menu and choose the Contractors option from the drop-down menu.
- Click on the Prepare 1099s option (located at the upper-right corner of the screen).
- Select the Let’s get started option.
- Now, you need to ensure that all your information, such as the company name, address, and tax ID is correct and matches the information mentioned on the letters from the IRS.
- Choose the boxes that denote the types of payments you made to all contractors in the current year, and then hit the Next button.
- Make sure that all of your contractors are mentioned there and their personal information and email addresses are correct.
Note: If you notice that some contractors are missing, then select the Add from Vendor list option, choose them from the QuickBooks vendor list, and then hit the Next button.
- Now, you need to review the total of the payments for each box you selected above to avoid any mistake and then hit the Next button.
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Steps to E-file your 1099s from QuickBooks Online:
- After creating 1099s, you need to click on the E-File for me option.
- Hit the Continue button.
- Select the 1099 forms that you want to submit to IRS, and then click on the Continue button.
- Type in the payment information and then click on the Approve button.
- Now, you need to review the number of 1099 forms and the total amount.
- Hit the Continue button.
- To send copies of 1099 forms to your contractors, follow the on-screen instructions.
- Thereafter, click on the Continue button.
- Select the Submit 1099 Forms option and then hit the Continue button.
- At last, choose the Submit final forms option to submit 1099 forms to IRS.
We hope that you find this post valuable and worth reading. You might face some errors while creating or submitting QuickBooks 1099 Wizard forms. However, there is no need to worry as the solution is just a call away at 1.800.579.0391. Our QuickBooks professionals have years of experience and will assist you at every step.