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JoyceGTX
Level 3

Can I file corrected 1099's through QBO efile?

I submitted my 1099's through QBO efile and got confirmation they were accepted by IRS. I realized in 3 vendors, a couple of small amounts between $8-20 were included as income and they were expenses. How do I fix this?
3 Comments 3
Rustler
Level 15

Can I file corrected 1099's through QBO efile?

I'm not sure what you mean by expenses

 

when you pay a 1099 vendor, that is an expense

if you mean that you are reimbursing the vendor for expenses, that only works if YOU get the original receipt and claim the expense.  Otherwise the vendor can use that expense twice basically.

 

the vendor is in business, he has expenses, and he bills you for the expenses and his work, you pay it all as an expense.  On his P&L your payment is income and his expenses lower net income as they should

JoyceGTX
Level 3

Can I file corrected 1099's through QBO efile?

Thank you for the prompt response. We have a few consultants who are paid an hourly rate. They submit invoices for their time, and periodically include parking charges, and other small out of pocket expenses. We reimburse them for the entire invoice and split the parking or any other out of pocket from the professional fee. The 1099 has been based on the professional fee only. In 3 cases this year we didn't break out the small parking charges and it was all charged to professional fees. 

 

Since I posted the question, I found a "diminimis safe harbor" guidance on amounts less than $100.

 

Based on your response, we should be including all of the charges paid to the consultants to the 1099, not just the professional fee?

 

 

KlentB
Moderator

Can I file corrected 1099's through QBO efile?

I'm glad that you reached to us, JoyceGTX.

 

As of the moment, QuickBooks Online only supports 1099 -MISC and we don't support the filing of amendment for that form. Whether you electronically filed or mailed it, you'll have to print to a new paper form to amend 1099. Please take note that IRS only accepts pre-printed forms, you can order 1009s online.

 

  1. You'll need to fill out 1099.
  2. Select the Corrected checkbox.
  3. Mail the corrected form to the IRS and your contractor.

To learn more about how 1099 works in QuickBooks, you can visit this link: Common questions about 1099s.

 

I've added an article that will help you in printing the 1099 form.

 

If you have other concerns or questions about 1099, just let me know by hitting the Reply button below. I'll be happy to lend a hand.

 

 

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