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dvdwest
Level 1

1099 account

Within Chart of Accounts, some of my independent contractor accounts are correctly listed as 1099 accounts-Box 7 Nonemployee compensation and others are not.  For example, I have an Account of Subcontractors with Subaccounts of flooring, drywall, electric, plumbing, etc.  These should all be 1099 accounts, some are, some aren't.  All the vendors paid as Subcontractors are set up as to receive a 1099, and within the set up of these subaccounts the same tax line of Other Deduction: Independent Contractor is selected.  How do I specify the accounts that should be a Box 7 Nonemployee Compensation?  I need this so 1099 Vendor reports are accurate.  I'm running Desktop Premier Contractors.

3 Comments 3
CharleneMaeF
QuickBooks Team

1099 account

I'm here to ensure your 1099 vendor reports are accurate, dvdwest.

 

You may follow the steps below to ensure the Box 7 mapping is correct.

  1. Go to the Vendors menu and then select Print/E-file 1099s.
  2. Choose 1099 Wizard then select Get Started.
  3. Note: If you’re filing for New Jersey or Wisconsin, you'll see a pop-up message. 1099 forms filed in these states have special rules for boxes 16 and 17.
  4. Select vendors that need form 1099-MISC and then select Continue.
  5. Verify the vendor information is correct. You can edit any incorrect information by double-clicking on the section that needs updating.
  6. Go to the drop-down in the Apply payments to this 1099 box section. Select the account you want to link the payment to and select Continue.
  7. Note: If you see a message in red stating your settings do not match the current IRS thresholds, select Show IRS 1099-MISC filing thresholds and choose Reset to IRS Thresholds.
  8. Review your payment information.
  9. Select View Included Payments and View Excluded Payments. Then select Continue.
  10. Review the vendors and amounts you're going to report.
  11. Choose whether to print 1099s or E-file.

 

You can also click the Summary Report to see the vendors who don't meet the IRS threshold.

 

I've included an article that will help you e-file your 1099-MISC form(s) instead of filing manually. Doing so will help you save more time: 1099 E-File: QuickBooks Desktop setup, troubleshooting, & FAQs.

 

You can always get back to us if you have additional questions. Take care always.

dvdwest
Level 1

1099 account

Awesome!  Thank you.  Seems odd that I didn't use those steps before to classify accounts as a Box 7.  Initially the software did it automatically for some and not others.   But it works now and I know how to set it properly in the future.

Rejeil_O
QuickBooks Team

1099 account

You're most welcome, @dvdwest.

 

I'm so glad that you already know how to set it up the Box 7 properly by following the recommended steps provided by my colleague.

 

Please know that I'm always here in the Community to help. Keep safe, and have a great day!

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