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1099 form is an informational return that provides the IRS and individuals with details of payments your company makes throughout the year. Through QuickBooks Online, you can create and print 1099s without filling them out manually. In this guide, we'll walk through the basics of these tax forms and how to print a 1099 from QuickBooks Online.
Understanding 1099 forms
You'll need to provide 1099 forms to any individual or independent contractor who earns at least $600 in non-employment income during a full calendar year. Recipients can include self-employed freelancers, limited liability companies (LLCs), and anyone else who isn't an employee of your company. However, you don't need to provide corporations with a 1099. [What is a 1099? Types, details, and who receives one | QuickBooks (intuit.com)]
The most common 1099 form for businesses is 1099-NEC, which companies use for non-employee income. While the filing date for 1099-NECs varies from year to year, it's usually due by January 31st for the preceding calendar year.
It's vital you provide accurate information in your 1099s since non-employees will use them to confirm their earnings from you and file their taxes. If the details are wrong, it could lead to mistakes in their tax return (and yours). You'll need to revise incorrect 1099 forms, which is time-consuming and frustrating for contractors and your accounting team. [Form W-2 and other wage statements deadline coming up for employers | Internal Revenue Service (irs.gov)], [How do I revise a 1099 Misc form I already filed for a vendor? (intuit.com)]
Preparing for 1099 form printing
If you plan to print your 1099s from QuickBooks Online, it's easiest to purchase the forms you need directly from Intuit. The Intuit 1099-NEC and 1099-MISC forms are fully compatible with QuickBooks, which means the information you need to print appears in the proper spots. Plus, QuickBooks forms are "continuous use," meaning they don't have a pre-printed tax year on the form. If you don't use all the forms you buy, you can save them for use in the subsequent tax year. [Order 1099 NEC & MISC Forms & Envelopes To Print & File (intuit.com)]
Once you're ready to print your 1099s, ensure you load them correctly in the printer. You should lay them so the text will print on the front of the form. Otherwise, you'll waste the form and need to print a new one.
Setting up 1099 form printing in QuickBooks Online
1. Accessing the 1099 form setup
Your first step is to select Payroll, then Contractors. You can then choose Prepare 1099's and click "Let's get started."
You'll want to verify that your business information in QuickBooks Online is accurate, including the company name, address, and tax identification number. [Create and file 1099s with QuickBooks Online (intuit.com)]
2. Verify vendor information
A list of contractors you paid during the year will appear. Confirm that their names, addresses, and tax identification numbers are correct. If you plan on e-filing your 1099s in addition to printing them, confirm the accuracy of the email addresses for the contractors. [Create and file 1099s with QuickBooks Online (intuit.com)]
3. Mapping account for 1099 categories
You'll want to select the box that best describes the type of compensation you paid each contractor. For most companies, "non-employee compensation" will apply. However, if you're unsure which box is appropriate, confirm it with your accountant. [Create and file 1099s with QuickBooks Online (intuit.com)]
Check the payment totals for each box selected. If they don't look accurate to you, confirm them through your accounting or bank records.
You can e-file your 1099 forms through QuickBooks Online while still maintaining the option to print them. Once you finalize your 1099s, simply choose E-file for me. If you have over ten forms to file, the IRS requires you to e-file them. [Create and file 1099s with QuickBooks Online (intuit.com)]
Printing 1099 forms: Step-by-step guide
1. Navigate to print 1099 forms function
If you didn't e-file your 1099s through QuickBooks Online, you can print them instead. Simply click on Payroll, then Contractors. Next, choose Prepare 1099s and Let's get started. [Print your 1099 and 1096 forms (intuit.com)]
2. Select the appropriate date range
You'll want to print 1099s for the appropriate year. Select the tax year that applies and continue.
3. Preview and adjust forms
Once you're ready to print, simply insert your 1099 forms into your printer and select Print and mail instead. QuickBooks will walk you through a few on-screen steps to confirm your form's alignment before printing the forms. [Print your 1099 and 1096 forms (intuit.com)]
4. Print the 1099 form
You can print your 1099 forms one at a time, which helps you avoid wasting forms if there are problems with the alignment. As you complete each form, check the accuracy before moving on to the next one. [Print your 1099 and 1096 forms (intuit.com)]
Common issues and troubleshooting
People who use web browsers other than Google Chrome or Mozilla Firefox may run into printing issues. If you're running a browser other than Chrome or Firefox, try printing your 1099s from either one of those instead. [Print your 1099 and 1096 forms (intuit.com)]
Using the Intuit 1099 forms is important to avoid alignment issues when printing. You can try using 1099 forms from other providers, but they may not print accurately from QuickBooks Online. [Order 1099 NEC & MISC Forms & Envelopes To Print & File (intuit.com)]
Boost efficiency at tax time by printing your 1099s through QuickBooks Online
QuickBooks Online makes it easy to print your 1099s each year. Simply navigate to the Payroll page, select Contractors, and create your 1099s. Once complete, you can print the 1099s on Intuit-designed forms developed especially for QuickBooks Online. Remember, you'll want to verify every 1099 you create is accurate since mistakes may lead to incorrect tax filings and unhappy contractors. [Create and file 1099s with QuickBooks Online (intuit.com)]
If you're one of the millions of business owners who use QuickBooks Online to manage your accounts, you can unlock better efficiency by finding a checking account with a QuickBooks banking integration. Novo's business banking solution integrates directly with QuickBooks, helping to reduce manual transactions and ensure you have real-time accounting data. Learn more about Novo, or open your account today.
Novo Platform Inc. strives to provide accurate information but cannot guarantee that this content is correct, complete, or up-to-date. This page is for informational purposes only and is not financial or legal advice nor an endorsement of any third-party products or services. All products and services are presented without warranty. Novo Platform Inc. does not provide any financial or legal advice, and you should consult your own financial, legal, or tax advisors.
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