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Thanks for dropping by the Community. I see you want to process 1099 for your contractors. Allow me to share insight and guidelines that could help you achieve this, @jakofron.
If you used a credit card, debit card, gift card, or PayPal to pay your contractors, those payments won't be included in the 1099 calculations. The financial institution that processed the payments will report them, so you won't need to include them in your 1099 forms.
To locate the payment details, you should run the report for Excluded Payments by Vendor.
Here are the steps you can follow.
Take note of the column labeled Excluded. By selecting the total in this column, go to Excluded Payments by Vendor report, which provides transaction specifics. It will enable you to verify whether the payments should indeed be excluded.
Furthermore, you can review the following resources to help you prepare and submit of your 1099s. It ensures that you can submit them punctually.
By following these steps, you should be able to address the issue of setting contractors' 1099. If you have more questions about your tax rate, post them here in the forum. I'll be around to answer them. Stay safe!
Thanks for dropping by the Community. I see you want to process 1099 for your contractors. Allow me to share insight and guidelines that could help you achieve this, @jakofron.
If you used a credit card, debit card, gift card, or PayPal to pay your contractors, those payments won't be included in the 1099 calculations. The financial institution that processed the payments will report them, so you won't need to include them in your 1099 forms.
To locate the payment details, you should run the report for Excluded Payments by Vendor.
Here are the steps you can follow.
Take note of the column labeled Excluded. By selecting the total in this column, go to Excluded Payments by Vendor report, which provides transaction specifics. It will enable you to verify whether the payments should indeed be excluded.
Furthermore, you can review the following resources to help you prepare and submit of your 1099s. It ensures that you can submit them punctually.
By following these steps, you should be able to address the issue of setting contractors' 1099. If you have more questions about your tax rate, post them here in the forum. I'll be around to answer them. Stay safe!
Thanks for the quick reply!
Hello there, Jakofron. We're glad to hear that our colleague was able to provide information and help you achieve your goal.
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Feel free to get in touch if you need help with anything else in QuickBooks. We'll be right here to back you up. Best wishes!
This is not correct - How does the credit card company know my contractors SSN or FEIN, thier address or Total amount paid for the year. Who ever dreamed up this conclusion needs to go back and correct the software in Quickbooks.
so not correct answer
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