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Level 2

Realtor production cost credit

I work for a realtor who receives a production cost credit as a bonus.  It is applied to her production cost account with the realty company.  It is not included in her income (1099-MISC) report.  How should this be posted?

Solved
Best answer February 12, 2020

Best Answers
QuickBooks Team

Realtor production cost credit

Hi @work4u2,

 

Let's make sure to include the cost credit on the mapping expense in your 1099 Wizard.

 

You have the option to select and map the correct expense account of the transactions. Also, you can only map the expense account of 1099 on box 7 supported by QuickBooks.

 

See these articles for detailed guidance: QuickBooks 1099 Wizard

 

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

 

If you have other follow-up concerns about this, let me know by leaving a comment below.

View solution in original post

2 Comments
QuickBooks Team

Realtor production cost credit

Hi @work4u2,

 

Let's make sure to include the cost credit on the mapping expense in your 1099 Wizard.

 

You have the option to select and map the correct expense account of the transactions. Also, you can only map the expense account of 1099 on box 7 supported by QuickBooks.

 

See these articles for detailed guidance: QuickBooks 1099 Wizard

 

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

 

If you have other follow-up concerns about this, let me know by leaving a comment below.

View solution in original post

Highlighted
Level 2

Realtor production cost credit

Thank you !

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