Creating 1099 Forms in QuickBooks: A Step-by-Step Guide | Forum

To create 1099 forms in QuickBooks, follow these general steps. Keep in mind that the specific steps may vary slightly depending on the version of QuickBooks you are using:

1. Ensure Vendors are Set Up Correctly:

Verify that each vendor you are issuing a 1099 to is set up correctly in QuickBooks. Ensure that the vendor's Tax ID or Social Security Number is entered.

2. Assign 1099 Categories:

Assign appropriate 1099 categories to each vendor. QuickBooks uses these categories to determine what should be reported on the 1099 forms.

3. Review Vendor Payments:

Review payments made to vendors throughout the year. Ensure that payments subject to 1099 reporting are accurately recorded.

4. Run 1099 Report:

In QuickBooks, go to "Reports" > "Vendors & Payables" > "Vendor Contact List."

Customize the report to include the necessary information for 1099s.

Review the report to ensure accuracy.

5. Generate 1099 Forms:

In QuickBooks, go to "Vendors" > "Print/E-File 1099s..."

Follow the on-screen instructions to set up and verify 1099 information.

QuickBooks will prompt you to enter the 1099-MISC forms, including Box 7 for non-employee compensation.

6. Review and Correct Errors:

QuickBooks will provide a summary of the 1099 data. Review the information carefully.

Correct any errors or missing information.

7. Print or E-File 1099s:

Once the information is accurate, you can choose to either print the 1099 forms or e-file them using QuickBooks.

8. Mail or Distribute 1099s:

If you printed the 1099 forms, mail them to the respective vendors.

If you e-filed, distribute the electronic copies to vendors as required.

Greetings,
Peter