Hey there, Valerie50.
Thanks for turning to the Community for support. I'm happy to provide some info so you're able to set up an 1099-MISC account in QuickBooks Online.
To add a 1099-MISC account for rent in QuickBooks Online (QBO), first enable 1099 tracking, then create a new Expense account for "Rent Paid" or similar in the Chart of Accounts (COA) with the appropriate type (Expense/Other Expense), and finally, map this account to Box 1 (Rents) on the 1099-MISC within QBO's 1099 setup section, ensuring the vendor is also marked as 1099 eligible with their Tax ID. Here's how to get this done:
Step 1: Enable 1099 Tracking & Map Accounts
- Go to Taxes (or Expenses) in QBO and select 1099s.
- Click Prepare 1099s and confirm your company info.
- Select "Select accounts" and choose your existing or new rent expense account, mapping it to Box 1: Rents (for real estate rentals).
Step 2: Create/Verify Your Rent Expense Account (if needed)
- Go to Settings ⚙ > Chart of Accounts.
- Select New, choose Expense, Other Expense, or COGS as the Account Type, and name it (e.g., "Rent Expense - Landlord").
- Click Save.
Step 3: Set Up the Vendor
- Navigate to Expenses (or Vendors) and find the vendor.
- Select Edit and go to the Tax settings tab.
- Check "Track payments for 1099", enter their Tax ID, and Save.
The following article provides additional info to modify your chart of accounts for your 1099-MISC and 1099-NEC filing. It's always a good idea to speak with your accountant about these types of actions to verify it is appropriate for your business.
Please feel free to drop a comment below if you have any other questions. The Community always has your back!
