1099 account mapping?

VentureAccounting · ‎January 14, 2019

How can I mapp an expense account for 1099's? When I go to process 1099's in Quickbooks online plus. It starts at step 4 so I don't have an option to do anything with accounts?

JonpriL · ‎January 14, 2019

Allow me to discuss some insights about preparing your 1099, @VentureAccounting and get this done in no time.

You have the option to select and map the correct expense account of your contractor transactions by clicking on the Back button. Please see the screenshot below for your reference.

Also, you can only map the expense account of your 1099 on the box 7 supported by QuickBooks.

Feel free to read this article about 1099: Common Questions About 1099s.

It'll be my pleasure helping you if you have any other concerns.

Busy Acct · ‎January 31, 2019

Am I correct in understanding that payment to lawyers cannot be mapped to Box 14? I have been searching for that answer for 30 minutes for QBs online, finding no satisfactory answer. Perhaps one does not exist.

Anonymous · ‎January 31, 2019

Hi there, Busy Acct,

Thanks for checking this with us. I can add a bit more about reporting legal fees in 1099 MISC.

There are several ways to report your attorney payments; it can either be on 1099 Box 7 or Box 14. For you to know where to map your fees, consider checking the situations found in Payments to attorneys and Gross proceeds paid to attorneys section of the IRS Instructions for Form 1099-MISC (page 2).

If you're unsure where to report the amounts on the form, it would be best to consult an accounting professional or check this directly with the IRS. There they can provide accurate legal advice to help you which box to use.

That should point you on the right track, Busy Acct. Let me know if you have any questions. I'll be glad to answer them for you. All the best!

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1099 account mapping?