Let's collaborate to address the overpayment with your 1099 contractor, SLC. I'll go over the details below.
Before we proceed, I'd like to gather more details about your concern to offer a more targeted solution. Could you please clarify what you meant by reporting a lesser amount on the W-9? It's important to note that the W-9 does not include any payment amounts. It simply provides the necessary information that is used to prepare 1099 forms.
However, if you're referring to showing the correct amount on your 1099 form, the figure you recorded will be the amount that appears on the form.
Moreover, to address the line "Put it towards their account," I'd like to clarify if you have already recorded a vendor credit or refund for this overpayment. If not, creating a vendor credit or refund would be an appropriate way to resolve the issue.
Finally, I'm sharing an article that offers step-by-step guidance on correcting your 1099 forms after you've e-filed them in QuickBooks Online (QBO). This comprehensive guide will walk you through the process, ensuring you can accurately update your forms: Correct or change 1099s.
Please feel free to provide additional details about your 1099 concern by clicking the Reply button below. Our team is ready to offer prompt and tailored guidance to help resolve your queries.
