How do I prepare 1099 INT?

You can "trick" the system and prepare 1099-INT as I have done most recently.

The Box 2 Royalties on a 1099-MISC lines up with the Box 1 Interest Income on 1099-INT so the trick is to map the interest receiving vendors Interest Expense to Box 2 for Royalties.

Since you can selectively print vendors you can thus prepare 1099-INT.  What you cannot do is efile these through QuickBooks or properly print the required 1096 to go along with them since QB will check the MISC box for type being filed.  But there again is a trick to do this.   Print your 1096 for the 1099-INT on blank paper. Cut off bottom of page that includes the checkmark. Place in your copier and copy onto the approved red IRS 1096 (The IRS ONLY accepts preprinted red 1096 and will hit you with a penalty if you print on plain paper with red ink), then check the appropriate box.  You may need to practice aligning the form to get t it right. We have until 2/29 to submit 1099-INT to IRS although recipients still needed theirs same as the MISC.

And did everyone know that for 2020 Non-employee compensation (current Box 7 on 1099-MISC) gets a brand new form? 1099-NEC which is for only one type of payment n(meaning those whom we pay NEC as well as rent will get two forms instead of one) but it does include boxes for state amounts - including any state income tax withholding as deemed appropriate by certain states. (my state will still probably not accept the federal 1096)20201099NECpdf 

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This is a great tip!  Saved me a whole lot of time!!

Thank you!

Juli Weidle

Great work around!  Saved me a ton of time!  Thank you!

Cheers

Emily

How do you map it?  I don't have royalties as an option. This is ridiculous.

I can help you with mapping and preparing Form 1099-Misc, @LadyA.

You should be able to see the Box 2: Royalties when mapping your 1099 box in QuickBooks Online (QBO). You can try to clear your browser's cache in case you don't have the said box. The error you're having can be caused by the piled-up cache in your regular browser. It stores temporary internet files from your browsing history. As it collects too many files, it can cause some issues in your account.

I've got some steps to help fix this issue. First, sign in to your QuickBooks Online (QBO) account using a private browser. This helps isolate the issue since it doesn’t store data in the cache. 

Here are the following keyboard shortcuts: 

• Safari: Command + Shift + N
• Mozilla Firefox: CTRL + Shift + P
• Google Chrome: CTRL + Shift + N
• Microsoft Edge: CTRL + Shift + N

If it works, here's how to clear cache and cookies to fix issues when using QuickBooks Online. Restart your browser right after. You can also try to check with other supported browsers (Firefox, Google Chrome, Safari, Microsoft Edge) if the steps above don't work.

Review the IRS’s instructions for Forms 1099-MISC and 1099-NEC to learn more details about each box. 

Here's more information about understanding which payments are excluded from a 1099-NEC and 1099-MISC. 

Let me know if you need more help preparing and mapping your Form 1099-Misc. I'm always glad to help in any way I can. Have a wonderful day!

I suggested this years ago and it still has not been implemented.  

Even if QB could produce a blank 1099 INT form and we can fill in the blanks, that would really help!

I understand the advantage of having QuickBooks generate a blank 1099 INT form, wherein you can fill in information, @bauser.

I see how important it is to your business, so I'd recommend sending feedback to our product development team. We assure you that your idea will undergo a thorough review process and may be considered for potential implementation in our future updates. Please be assured that we take all suggestions seriously. 

To submit your suggestion:

1. Select the Gear icon, then choose Feedback.
2. Type in your product suggestions.
3. Select Next to submit.

Moreover, I'll add an article about what you can do with payroll taxes and forms you can file in QuickBooks Online: Pay and file payroll taxes and forms electronically.

You can respond anytime by tapping the reply button in this thread, @bauser. If you need further clarification regarding tax forms in QuickBooks, I'm always here to help. 

I do this and then on the 1096 I put a little piece of tape over the 1099MISC check box then take it off after it is printed and then just make an X in the INT box.

I do this and then on the 1096 I put a little piece of tape over the 1099MISC check box then take it off after it is printed and then just make an X in the INT box.