1099 NEC

Thank you for upgrading to QuickBooks 2020, ljkentucky.

Our development team is working on the printing and e-filing processes for QuickBooks 2020 and later versions. It will be released with the payroll tax table update by mid-December 2020. As always, you'll be prompted when a new tax table is available for download.

On the other hand, you may have seen it, but let me share this article that talks about form 1099-NEC: What is 1099, and do I need to file one?

Lastly, we are now starting to sell pre-printed kits for QuickBooks Desktop in case you are interested.

If you have other questions, feel free to go back to this thread.

So the 1099 NEC update will be handled through the Payroll Tax update ??  I know for me that could work for some of my clients but what about my clients who don’t do payroll in Quickbooks ?  How will they get the 1099 NEC updated file?

Good Morning, @Iijkentucky. 

I can see how confusing it would be to determine where your clients get the 1099 NEC updated file when some of them don't use payroll through their QuickBooks. However, I'll be glad to offer my assistance with the 1099 NEC to ease you and your client's mind. 

If your clients are using a third party payroll provider, it would be best to run it by the support them for that particular product. Furthermore, if they're filing through the IRS, here are two guides that can give you some more insight into where you need to file the 1099 NEC: 

• Instructions for Forms 1099-MISC and 1099-NEC (2020)

• 1099

To give you more details on this matter, check out this link within the Community to learn more about 1099 NEC ad 1099 MISC forms.

Now your clients should have peace of mind about where to file their 1099 NEC. Let me know if you have any other questions or concerns. I'm only a comment away. Wishing you and your business continued success!

I’m confused. I don’t have employees and don’t use your payroll function. Will I receive the 1099 update so they will

print correctly?  Payroll and 1099s are not related so why would the update be tied to payroll?

Hello, sra411. 

Yes, you can print the 1099-NEC form without the payroll subscription. This is a form that solely reports non-employee compensation.

I'll walk you through the steps where to get the form. Before doing so, please make sure to create a back up of your company file to prevent data loss.

Then, follow these steps:

1. Go to Vendors > Print/E-file 1099 Forms > 1099 Wizard. 
2. Click the Get started button for the 1099 form you want to create. If you need to create both 1099-NEC and 1099-MISC, you’ll need to repeat the steps for the other form. Important: There are changes to the 1099 forms and boxes in 2021 for tax year 2020, so choose your forms carefully. Most businesses will choose “Nonemployee compensation, Box 1 on the 1099-NEC, but check with your accountant if you think you might have made other types of payments.  
3. Select vendors that need 1099 form and hit Continue.  
4. Verify if the vendor has the correct information. You can edit any incorrect information by double-clicking on the section that needs updating. Click Continue.  
5. Map the vendor payment accounts. Choose the account you want to link the payment to from the Apply payments to this 1099 box drop-down menu. If any boxes are gray, they are mapped to the other 1099 form. You only map accounts to one 1099 form. When complete, press Continue. Note: If you see a message in red stating your settings do not match the current IRS thresholds, select Show IRS 1099-MISC filing thresholds and choose Reset to IRS Thresholds.  
6. Review your payment information for exclusions. For more information on what can be excluded see: What payments are excluded from a 1099-NEC and 1099-MISC?. Then, click the View Included Payments or View Excluded Payments to see detailed reports. Press Continue.  
7. Review the vendors and amounts you're going to report. Select Continue.
   Note: If you want to see the vendors who don't meet the IRS threshold, select View Summary Report.
8. Choose whether to print 1099s or e-file.

If you choose to continue to e-file your 1099s, you can check out this article for the detailed steps: Create and file 1099s with QuickBooks Desktop. 

I'm also adding this article for additional details: What is a 1099 and do I need to file one?. 

If you need anything else, don't hesitate to comment below. I'm always around to help. Stay safe!

That wasn’t my question. Right now quickbooks only prints 2 forms to a page instead of 3. A previous response to this thread said the update to print correctly would be released with a payroll update. 

I just updated my quickbooks and now all my accounts have been set to assign to box 15 and I can’t change it in the 1099 wizard. They were on box 1 before the update. 

It isn't the kind of experience that we want you to come across, sra411.

At this time, I'd recommend reaching out to our Phone Support team so we can check your file further. You can reach out to them through the Help menu.

Feel free to browse this article for more detailed information about printing forms: What is a 1099 and do I need to file one?.

I'll be around whenever help is needed. Stay safe!

So are you saying that Quickbooks is ready to print the 3 up 1099 for 2020?

So are you saying that Quickbooks is ready to print 2020 1099’s

I couldn’t get that far. Since everything was assigned to box 15 instead of box 1, it says I don’t have any forms to print. 

I'm glad QB resolved this.  I typed 2020 by mistake, but  I was actually inquiring about the new 2021 forms.  It does look like now I will be able to prepare 2021.