Can I file 1099-INT thru QB?

Thank you for posting here, Blair63. QuickBooks enables you to print vendors and prepare 1099-INT forms selectively. Nevertheless, QuickBooks cannot e-file these forms or correctly print the necessary 1096 to accompany them, as it defaults to checking the MISC box for the type being filed. However, there is a solution to this issue.

You can print your 1096 for the 1099-INT on blank paper, cut off the bottom of the page that includes the checkmark, and then place it in your copier to copy onto the approved red IRS 1096. The IRS only accepts preprinted red 1096 forms and will penalize you if you print on plain paper with red ink. After copying, you can then check the appropriate box. It may take some practice to align the form correctly. The deadline to submit 1099-INT to the IRS is February 29, although recipients still need theirs at the same time as the MISC forms.

Furthermore, the amount reported in Box 2 for Royalties on a 1099-MISC corresponds to the Box 1 Interest Income on a 1099-INT. Therefore, the workaround involves mapping the interest-receiving vendors' Interest Expenses to Box 2 for Royalties.

I'm also adding this page if you need guidance for tax filling the next fiscal year, check out this article: Year-end guide for QuickBooks Online.

Feel free to return to this thread if you have other concerns besides printing your 1099-INT forms. The Community is always ready to back you up.

Christine, thank you for the work around. Do I need to use form 1096 that has 2023 printed on it?

Thansk

Blair

You're welcome, @Blair63.

Let me share additional information about printing the 1096 form.

Yes, since you're submitting a 2023 1096 form. The year 2023 will show on the right side corner when you print it.

You can read this article to help you print 1099 and 1096: Print your 1099 and 1096 forms.

If you want to prepare for the next fiscal year, check out this article: Year-end guide for QuickBooks Online.

Feel free to come back here if you have additional questions about managing your tax forms. I'll be willing to help. Have a good one.

2 more questions!
1. When I went to print my 1099-misc on the int form it also printed 2 recipients that I had previously e-filed thru QB. They didn't show up in the misc forms to print so I didn't think they would be part of that download. I printed them all on the red sheet. Can I just check the void box? the vendors should have been 1099-NEC and rents. 

2. there is notice that says if I am filing more than 10 forms I need to e-file only. Does this mean 10 forms on my company's behalf? I only need to file 6 1099-int and 3 other. My payment processor filed the w2's. 

Let me answer your questions individually, Blair63.

Yes, you can mark check the void two receipts already filled in QuickBooks by manually selecting the void option. Once you've chosen the void option, QuickBooks will not include it in the 1099 form. 

Second, the IRS mandates that once you have accumulated ten or more forms, you must file them electronically. This applies to all tax forms and documents, including W-2s, 1099s, and other tax-related documents. 
 

However, if you have less than ten forms, you have the option to file them either manually or electronically. Electronic filing is faster, more secure, and more accurate than manual filing; I suggest using electronic filing even if you have fewer than ten documents to file to ensure you don't make any mistakes in filing your taxes.
 

I'd recommend reading this article if you'd like to know more about the 1099 E-file services: 

• Create and file 1099s with QuickBooks Online.
• Get answers to your 1099 questions.

Have you run payroll and want to check the current liabilities and other payroll data? There are a bunch of reports you can run in QuickBooks. Check out this article for a guide: Run payroll reports.

Let me know if you have any other concerns or questions about your 1099 Filing in QuickBooks Online. I'm more than happy to help. Keep safe!

I think I can get the 1099-int to print for my vendor copy, but how do I e-file a 1099-int?  I have only one to do, but I have 17 1099-Misc so I have to e-file.  If I put in through the Royalties box to print I cant e-file that way right?  Ugh this is frustrating.  Appreciate any help.

Welcome to the Community, @RRoffice1.

Let me share information about e-filing 1099s in QuickBooks Online.

QuickBooks Online (QBO) does not have the option to e-file 1099-INT. However, you can check for third-party software that can assist you in adding QR codes to invoices.

I'll share the link to our QuickBooks App Center with you. Another option is to go to your QBO account's Apps menu.

Here's how to do it:

1. From the sidebar menu, choose Apps.
2. To find apps, go to the Find Apps tab.
3. To filter the results, type a keyword into the search bar or click the Browse category option.

For future reference, you can read this article about year-end checklist: Year-end checklist for QuickBooks Online Payroll.

Feel free to comment below if you need further assistance in managing 1099s in QuickBooks Online. I'm always here to help. Have a great day.

It sure would be nice if there was an easier way to prepare/file our 1099-INT and 1096.  Is this something Quickbooks might consider adding in the future?

Hi there,

I'd like to help share some insights about processing 1099-INT in QuickBooks Online.

Currently, QBO only supports the 1099-NEC and 1099-MISC. Adding support for the 1099-INT form would be a valuable feature. I recommend submitting a product suggestion to our Development Team for consideration in future updates. I will also prepare a feedback report for the appropriate channels.

Here's how to send a feedback:

1. Click Settings or the Gear icon.
2. Click Feedback.
3. Enter your comments or product suggestions.
4. Click Next to submit feedback.

For more information about 1099 payments, feel free to check out the articles below:

• Understand payment categories for the 1099-MISC and 1099-NEC
• What payments are excluded from a 1099-NEC and 1099-MISC?

If you have any more concerns about other QuickBooks products, just click the reply button. I'm always around to help!

I've read the entire thread above.  What is your recommendation for filing with the new IRS Threshold of 10+ 1099's need to be e-filed.  Unfortunately I have 11 1099's from a mix of NEC and MISC which is great....BUT I have a single 1099-INT that I must file.   I can't file the 11 electronically then mail in the 1 via paper as I will be in violation. 

    Do you have a recommendation for how I can get all 12 efiled? 

It's great to see you in the Community, @MKKW.

Allow me to share some insights about filing different 1099s in QuickBooks.

At the moment, QuickBooks Online (QBO) only allows the processing of forms 1099-MISC and 1099-NEC. With this, you'll need to use another tax filing service to e-file all your 1099s together. I'd recommend coordinating with tax professionals or the IRS to get the best advice on which steps to take regarding this matter.

For more information on filing 1099s with QuickBooks, feel free to check this article out: Create and file 1099s with QuickBooks Online.

In the future, you might want to view your past tax payments and forms. Here's an article for reference: View your previously filed tax forms and payments.

Let me know if you have any other questions about filing your 1099s or anything QuickBooks-related. I'll be around to assist you.

No. I use Track1099.com. They will e-file your 1099-INT for you. 

Thank you for the alternative!!