QuickBooks 1099 Forms
QuickBooks 1099 form is a tax information form by IRS (Internal Revenue Service), which is required to file the information of the incomes paid, other than earnings from the employer.
reports what you paid to independent contractors in a given year. You can download the 1099 form by
of IRS. If you have any error in downloading the form you can contact our QuickBooks Online Support Number for help. We will try our best to resolve your issue.
Using QuickBooks to Prepare 1099 MISC Forms
Preparing 1099 MISC form is more difficult than other income detail forms. Quickbooks is one of the best accounting software, provides more option to prepare 1099 MISC form. With the help of this software, chances of errors
very less. QuickBooks automates a number of associated tasks for better features of adding 1099 eligible vendors.When someone does work for you as an independent contractor. You’ll need to send those 1099 at the end of the year so they can report their income to the I.R.S. as a general guideline. If the contractor does the work of an employee but they aren’t an employee or a corporation. Then you need to create 1099 for them at the end of the year.
Prepare 1099 forms
First, review your company details and make any changes. Now you need to assign the expense account you used to pay the contractor. To prepare 1099 MISC form for your business, you can follow the following steps.
- Click on ‘Edit’ then choose ‘Preferences’.
- Move to the ‘Tax: 1099’ section and then switch to ‘Company Preferences’ tab in ‘Preferences’ menu.
- For ‘Do you file 1099-MISC forms?’ Select ‘Yes’ and click ‘OK’ to save preferences.
- Go to ‘Vendor Center’ in the Vendor option on the toolbar.
- Double-click on the vendor, you wish to add information for and to edit the vendor details.
- After the correct vendor details have been added, move to ‘Tax Settings’ section.
- Click ‘OK’ to save the updated information.
- For all vendors, repeat this step.
Preparing Your 1099 MISC
- After adding vendor,Go back to ‘Tax: 1099’and click the provided option.
- Click on ‘Get Started’ button on the next screen.
- Select the vendors using check-boxes for 1099-eligible vendors and click on ‘Continue’ button.
- Verify the detail of the added vendors and click on ‘Continue’ button.
- Click on ‘Sow all accounts’ and then choose the accounts that needs to be mapped with 1099 and which are to be omitted. Click on ‘Continue’ .
- Review your payment for exclusion in the next step and click on ‘Continue’.
- You can double click on the vendor to view detailed information. After confirm, click on ‘Continue’ button.
- In e-fling and print option, choose one to proceed.
Hope this article will be worthy and helpful for you. Dial QuickBooks Online Support number 1-855-441-4417 to get more help and support from our team of experts of QuickBooks.
Article Reference: http://www.askproadvisor.com/question/what-are-the-causes-of-quickbooks-online-error-12xxx-how-o-fix-it/