Mapping 1099 boxes

kulike · ‎January 25, 2021

When I go to Prepare 1099s and I get to the Accounts page it does not list Boxes for me to choose but

gives me a headline Most Common Payment Types

and below it lists with a checkbox Non-Employee Compensation on first line and

Rents on second line. On the side for first line for Non-Employee Compensation is written with light gray font

"Box 1 1099-NEC"

and on the side of second line for Rents it reads

"Box 1 1099-MISC"

Shouldn't the Rents feature Box 7 rather than Box 1?

I don't find any place where I think I can access the Boxes. What am I missing? When I go to process the 1099s the list properly displays contractors for NEC and rent for MISC.

I am just afraid it won't transmit correctly with the e-file system if I submit as both NEC and MISC are for Box 1?

JessT · ‎January 26, 2021

Hi kulike,

Yes, rents and non-employee compensation are mapped in Box 1. You can actually find these details in the IRS article about 1099-Misc and 1099-NEC forms: https://www.irs.gov/forms-pubs/about-form-1099-misc. Just use the find (Ctrl + F) function of your computer and look for Box 1. You can also look for box 7.

If you have other things to clarify about preparing 1099 forms in QBO, you can always go back to this thread.

Have a good one!

View solution in original post

Catherine_B · ‎January 25, 2021

You're on the right track in preparing your 1099s, kulike.

A 1099-NEC form is a new form for reporting nonemployee compensation. If you've reported nonemployee compensation in 1099-MISC Box 7 in previous years, you will now need to use the 1099-NEC form for the tax year 2020.

To select an account when preparing your 1099s, you'll just need to select a payment type. You can use the screenshot below as your reference.

You can also use this page that will help create, file and print your 1099s: Create and file 1099s using QuickBooks Online.

Let me know if you have other questions. Take care and have a great day!

kulike · ‎January 25, 2021

I thought RENTS was to be Box 7 ---

so is it Ok for it also to show box 1?

JessT · ‎January 26, 2021

Hi kulike,

Yes, rents and non-employee compensation are mapped in Box 1. You can actually find these details in the IRS article about 1099-Misc and 1099-NEC forms: https://www.irs.gov/forms-pubs/about-form-1099-misc. Just use the find (Ctrl + F) function of your computer and look for Box 1. You can also look for box 7.

If you have other things to clarify about preparing 1099 forms in QBO, you can always go back to this thread.

Have a good one!

m45klink · ‎January 27, 2021

So, if we filed a 1099-Misc in the past for Rents, can we file a 1099-NEC? Or do we still need to file a 1099-Misc? It seems that the accounts are automatically mapping for the NEC form for 2020. Thanks in advance for your help.

FritzF · ‎January 27, 2021

Thanks for joining this conversation, @m45klink.

Yes, you're correct! You can file 1099-NEC instead. The payments found on a 1099-MISC are geared towards vendors, attorneys, and other individuals who are not a proper contractor.

For the detailed steps on filing 1099-NEC in QuickBooks Online (QBO), I highly suggest checking out this article: Create and file 1099s using QuickBooks Online.

To learn more about the difference between 1099-NEC and 1099-MISC, you may refer to this article: What is a 1099 and do I need to file one?

Post again or leave a comment in this thread if you have any additional concerns. I'm more than happy to help. Have a great day!

SF123465 · ‎January 22, 2023

QB and its mapping process is complete crap.

Topics

Training

Community

Resources

Mapping 1099 boxes