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If I paid vendors in 2019 via Venmo, Cashapp, and Zelle (3rd party money transfer service through Boeing Employees Credit Union), do I need to file 1099s?

 
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Best answer February 11, 2020

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QuickBooks Team

If I paid vendors in 2019 via Venmo, Cashapp, and Zelle (3rd party money transfer service through Boeing Employees Credit Union), do I need to file 1099s?

Hi there, neve-maziquebian,

 

In QuickBooks Online, you don't need to file 1099 for vendor payments made via third-party money transfer service. Venmo, Cashapp, and Zelle can file 1099s for you. I recommend contacting them so they can help prepare these forms.

 

You can also refer to this article for more details: IRS Reporting Requirements for Third-party Vendor Payments on 1099-K/1099-MISC

 

Let me know if you have follow-up questions, and I'm always around to help you out.

View solution in original post

1 Comment 1
Highlighted
QuickBooks Team

If I paid vendors in 2019 via Venmo, Cashapp, and Zelle (3rd party money transfer service through Boeing Employees Credit Union), do I need to file 1099s?

Hi there, neve-maziquebian,

 

In QuickBooks Online, you don't need to file 1099 for vendor payments made via third-party money transfer service. Venmo, Cashapp, and Zelle can file 1099s for you. I recommend contacting them so they can help prepare these forms.

 

You can also refer to this article for more details: IRS Reporting Requirements for Third-party Vendor Payments on 1099-K/1099-MISC

 

Let me know if you have follow-up questions, and I'm always around to help you out.

View solution in original post

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