An All-Inclusive Guide on QuickBooks Online 1099 Forms

QuickBooks Online 1099 feature can help you in preparing, e-filing and reviewing the vendor’s tax form with the Intuit E-file service. If you are running a business, you need to file various 1099 forms in the QuickBooks application.

QuickBooks Online 1099 feature can help you in preparing, e-filing and reviewing the vendors tax form with the Intuit E-file service. If you are running a business, you need to file various 1099 forms in the QuickBooks application. These forms are used to report various types of incomes that you may get other than your fixed salary. You may need to file QuickBooks Online 1099 forms for your vendors and individual contractors and send then by January 31. In this post, we will discuss the various important aspects of the QuickBooks Online 1099 forms and how you can use Intuit 1099 E-file service to prepare your 1099 forms.

How to Perform the QuickBooks Online 1099 Setup?

You will need to perform QuickBooks Online 1099 setup for all the individual contractors and non-employees that you have paid $600 or more within the tax year. You need to issue 1099 to all individual contractors and LLS s that falls in $600 threshold. Only corporates are exceptions for QuickBooks Online 1099 forms. You will need to send a copy of the form to the IRS as a summary sheet. There are mainly two deadlines for the forms January 31st, and February 28th, by which you need to issue 1099 to all the qualified recipients. You need to perform QuickBooks Online 1099 setup with the utmost care and attention. Below are the steps to prepare your 1099s in QuickBooks Online:

  • From within the Workers or Payroll menu, select Contractors or Expenses Vendors.
  • Next, select Prepare 1099s and then Lets get started.
  • Now you need to ensure that your company name, address and tax ID matches are correct as per the tax notice or letters from the IRS.
  • After that, select the boxes 1 to 14.
  • Note: For box 7, Nonemployee Compensation, you can see Form 1099-MISC instructions on the IRS website.
  • Now you need to select the boxes that show the expense accounts where you track payments and then hit Next to proceed further.
  • Verify that all of the personal info and email addresses provided by the contractors are correct.
  • Review that the payment totals are accurate.
  • Once you are done, select Finish preparing 1099s.
  • In the end, select Go to 1099 E-File Service to e-file your 1099s, and you are all set for QuickBooks Online 1099 filing.

Different Types of QuickBooks Online 1099 Forms

You need to issue QuickBooks Online 1099 forms using Intuit E-file services for the vendors or contractors whom you have paid $600 or more in a tax year. To get it done, you need to import your info from QuickBooks, and the Intuits service will help you to get your 1099 filled automatically. You can easily create 1099s and send the copies of the form to the contractors with absolute ease. In addition to this, you can get everything downloaded for your records. When you avail Intuit E-filing services, it ensures the timely filing of the 1099s and prevents you from the late filing penalties. There are various types of 1099s, but most taxpayers mainly need the below-given 1099 forms:

  • Form 1099-INT
  • 1099-DIV
  • 1099-MISC
  • 1099-K
  • 1099-B
  • 1099-G
  • 1099-R

What Is QuickBooks Online 1099 Report Not Working Error?

QuickBooks Online 1099 report not working is a perplexing error that can come into sight when preparing 1099s for vendors or individuals in QuickBooks Online. You may not be able to see the 1099 report for all the contractors on the arrival of the error. There are multi-faceted reasons behind this error, and to get them fixed, it is important to address them in the first place. To do so, you need to make sure that the checkboxes for Track payments for 1099 are marked. Besides, confirm that the correct tax year is selected in the Preview 1099 information to troubleshoot QuickBooks Online 1099 report not working error.

This article elaborates on various important aspects of QuickBooks Online 1099 wizard and preventive steps you need to keep in your mind related to your 1099s. If you need more help from experts, give us a call on our QuickBooks error helpline number(855) 526-5749. In no time, you will be connected with us, and one of our experts will help you with all your queries related to QuickBooks Online 1099 forms.