New 1099-K Reporting for 2022 and Beyond

Sandy_C · ‎September 15, 2022

I work as an independent contractor, and I use Quickbooks Self-Employed (QBSE) to invoice my clients for my services. I also use QBSE to accept payments from my clients. I only accept ACH payments (no debit/credit card) via QBSE.

With the new 1099-K rules in effect for 2022 and beyond, I understand that if I receive $600 of payments via payment card and Third-Party Network Transactions, that I may receive a Form 1099-K in 2023 for the payments my clients made to me in 2022.

What I need clarification on is whether Intuit will issue a 1099-K for the payments I received using ACH via QBSE or whether my client should be issuing a 1099-NEC instead. Please advise.

JessT · ‎September 15, 2022

Hi Sandy_C,

You'll only get a 1099-K form if you process credit card payments using our Merchant Service. ACH payments are not included. Therefore, you'll probably get 1099-NEC from your client. You can ask them as well or consult your accountant.

On the other hand, if your clients are using QuickBooks and you were invited to enter your W9 information, the form will become available on your end by January 2023 after they report their payments using our 1099 Service to the IRS.

Sign in to QuickBooks Self-Employed.
Go to the Clients menu.
Select the Forms tab.

Please check out the annual tax guide for your additional reference.

Let me know if you have any other concerns about the forms. Take care and have a good one.

View solution in original post

JessT · ‎September 15, 2022

Hi Sandy_C,

You'll only get a 1099-K form if you process credit card payments using our Merchant Service. ACH payments are not included. Therefore, you'll probably get 1099-NEC from your client. You can ask them as well or consult your accountant.

On the other hand, if your clients are using QuickBooks and you were invited to enter your W9 information, the form will become available on your end by January 2023 after they report their payments using our 1099 Service to the IRS.

Sign in to QuickBooks Self-Employed.
Go to the Clients menu.
Select the Forms tab.

Please check out the annual tax guide for your additional reference.

Let me know if you have any other concerns about the forms. Take care and have a good one.

taxesarefunny · ‎December 05, 2022

I also use QBSE for invoicing clients but I allow for credit cards through the Quickbooks Self Employed invoice system. How will Quickbooks send me a 1099-K when the service doesn't have an input for tax ID/EIN information? When I'm on QBSE and search it, I get this message:

QuickBooks Self-Employed doesn't have a place to put your EIN or Tax ID Number. You'll handle that separately when you do your taxes.

Ethel_A · ‎December 05, 2022

Welcome to the Community.

I'm here to share information about adding tax ID in QuickBooks Self-Employed (QBSE).

The feature is currently available in QuickBooks Online and QuickBooks Desktop versions. That is why you are getting the error message using QBSE.

You can check how to handle payroll e-file and e-pay rejections in QuickBooks to learn more about managing your taxes.

I'm also adding this article as your reference about EIN and TIN numbers: What is EIN and TIN numbers?

Please know that you're always welcome to post a reply in this thread if you have any other questions about your QBSE account. I'll be here ready to assist you.

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New 1099-K Reporting for 2022 and Beyond