QuickBooks 1099 Wizard is an essential feature in the QB software that helps users in filing 1099-MISC forms. You may require to file Form 1099-MISC for each vendor/contractor, whom you have paid $600 or more in a year. The payment can be related to the product or services offered by the vendors/contractors such as rents, medical and health care services, payments to an attorney and various others. In this post, we will discuss how to use QuickBooks 1099-MISC to report the payments made to 1099 vendors in the application.
Need help in utilizing QuickBooks 1099 Wizard for reporting payments to the IRS? Give us a call on our QuickBooks error helpline number 1-855-948-3646.
What Is Intuit QuickBooks 1099 Wizard?
QuickBooks 1099 Wizard can help regular QB users to prepare, review, and file all 1099-MISC forms to the Internal Revenue Service (IRS). Also, you can prepare, review and file your form 1096 when you are using mail to file these forms. However, you don’t need to report the payments made by credit card, debit card, gift card, or third-party payment networks such as PayPal as they report it themselves on Form 1099-K.
How To Utilize QB 1099 Wizard?
Before getting started, you need to check if your state needs to e-file or print 1099 MISC with QuickBooks application. If yes, you need to perform the below-stated steps:
- Move to Vendors and select Print/E-file 1099s.
- Next, you need to choose the 1099 Wizard and select Get Started
- Select vendors/contractors that need the form 1099-MISC and click Continue
- Make sure that the entered vendor information is accurate. If not, you can edit them by double-clicking on the relevant section.
- Now in the Apply payments to this 1099 box section, select the account you want to link the payment to from the drop-down menu and hit Continue
- Note: If an error message appears on your screen that says, your settings do not match the current IRS thresholds, then you need to select Show IRS 1099-MISC filing thresholds and choose Reset to IRS Thresholds.
- Recheck if your payment information is correct and there is no error.
- Select View Included Payments to move further and then View Excluded Payments.
- Hit Continue and recheck the vendors and amounts you are going to report.
- Finally, you may choose if you want to print the form.
If you need any assistance in utilizing QuickBooks 1099 Wizard from QB experts, give us a call on our QuickBooks error helpline number 1-855-948-3646.
