Learn what you need to do in QuickBooks Online and QuickBooks Desktop if you need to file both a 1099-MISC and 1099-NEC.
What do I need to do before I e-file both forms?
If you need to file both the 1099-NEC and the 1099-MISC, you need to have a different expense account for each form. A single account can only be used for one form when you use QuickBooks to create your 1099s.
If you have been paying contractors out of one account all year, and need to file both forms, you’ll need to fix your QuickBooks. You have two options. You can either edit the existing contractor payments to the correct accounts. Or use a journal entry to move the amounts from one account to another.
Important: What types of 1099 you need to file is determined by which types of boxes you select when you create your 1099s in QuickBooks. Most businesses only select Box 1 - Nonemployee Compensation on the 1099-NEC for contractor payments. If you aren’t sure what box to use, check with your accountant to be sure.
Set up QuickBooks for the 1099-MISC and 1099-NEC forms
If you paid 1099-MISC and 1099-NEC contractors and posted to the same account, you will need to edit your chart of accounts. This ensures separate accounts are available for each form to use.
Then, you can either create a journal entry to move amounts or you can edit existing payments to the new accounts.
Follow the steps for your version of QuickBooks.
|Note: Not sure which payroll service you have? Here's how to find your payroll service.