How To Create 1099 Forms In Quickbooks Online?

March 28, 2022
Quickbooks

Quickbooks is the best accounting software available in the market today and it comes with many different versions, one of the most successful versions of Quickbooks is Quickbooks Online. Quickbooks Online also comes with many features. One of its features is the 1099 form. In this article, we are going to discuss what is the 1099 form, in addition to that, we are going to see how to create 1099 in Quickbooks Online? And also, how to E-file and check the filling status?

What Is The 1099 Form?

1099 form is used to prepare and file an information return to various types of income other than wages, salaries, and tips. The 1099 form is only applicable in the United States, under IRS tax forms.

Next, we will see how to create the 1099 form in QuickBooks Online?

Steps for creating The 1099 Form In Quickbooks Online

Creating the 1099 form in QuickBooks Online can be done in the following way –

  • Select ‘Contractors’, from the ‘Payroll’ menu
  • After that, select ‘Prepare 1099s’
  • You must ensure that your company name, address and tax ID are correct or new and match with the information found on the tax notices or letters.
  • Now, check the boxes that represent the type of payments made to all of your contractors this year, and after that, select ‘Next’
  • After that, verify that all of your contractors are showing and their personal info and email addresses are correct
  • Now, review the payment totals for each box you need. After that, the payments will be automatically separated between the 1099-NEC and 1099-MISC forms. Then, click on ‘Next’
  • At last, select ‘E-File’ for e-filing the 1099s for printing out and mailing the forms 

With the above method, you can e-file your 1099 forms after creating them. Next, we will see how to E-file your 1099s in QuickBooks Online.

E-File Your 1099s

E-File your 1099s can be done in the following way-

  • After creating your 1099s, now select the ‘E-File’
  • After that, verify your 1099 Forms, and then select ‘Continue’
  • Check your 1099 forms and see if the information you entered in QuickBooks Online was entered correctly or new. Select the 1099 forms you want to submit and then click on ‘Continue’
  • Now, enter the billing info, and then select ‘Approve’
  • After that, review the number of forms and the total amount, then select ‘Continue’
  • Verify or enter missing email addresses for the contractors so that they can view their 1099 forms online
  • Then, select ‘Continue’
  • After that, view and download and then ‘Submit 1099 Forms
  • Then, select ‘Continue’
  • At last, submit the final forms and make sure that you have reviewed the 1099 forms before submitting

By the above method, you can E-File your 1099 forms after creating them. Next, we are going to see the status of your 1099 forms after submitting them.

Checking Your Filing Status

The filling status of your submitted 1099 forms, can be seen in three ways –

Not Submitted: It means the e-filled Form 1099-NEC or 1099-MISC with the IRS has not been submitted d yet. You can continue revising it.

Submitted: It means the e-filled Form 1099-NEC or 1099-MISC with the IRS has been successfully submitted.

Received by IRS: It means the e-filled Form 1099-NEC or 1099-MISC with the IRS has received your form and is either processing it or has already processed and approved it. Customers who have submitted their 1099 E-File forms will receive a confirmation email approximately a week after the IRS accepts and condoms submissions.

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