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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.
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.
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.
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.
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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