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How to Print Your 1099 and 1096 Forms with QuickBooks Online


How to Download 1099 Forms from QuickBooks Online




If you paid any contractors or freelancers more than $600 in a year, you need to file a Form 1099-NEC or Form 1099-MISC with the IRS and send a copy to each contractor. These forms report the income you paid to non-employees for services rendered.




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Filing these forms can be a hassle, especially if you have multiple contractors or pay them through different methods. That's why using QuickBooks Online can make your life easier. QuickBooks Online can help you track, create, and download your 1099 forms seamlessly, using the information you already have in your account.


In this article, we'll show you how to download your 1099 forms from QuickBooks Online in three simple steps. You can also choose to e-file your forms with the IRS directly from QuickBooks Online, saving you time and money.


Step 1: Set up your 1099 accounts in QuickBooks Online




The first step is to make sure you have set up your accounts correctly for tracking your expenses and payments for your contractors. You need to categorize each expense or payment as a "1099 category" so that QuickBooks Online can include it in your 1099 forms.


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To do this, go to the Expenses menu and select Categories. Then, click on Edit next to each category that you use for paying contractors. Check the box that says "Track payments for 1099" and save your changes.


You can also create new categories for specific types of payments, such as rent, royalties, or legal fees. Just make sure you check the box for tracking them for 1099.


For more details on how to set up your accounts for 1099, check out this guide.


Step 2: Create your 1099 forms in QuickBooks Online




The next step is to create your 1099 forms using the information you have entered in QuickBooks Online. You can do this by going to the Taxes menu and selecting Forms. Then, click on Prepare Forms under the Contractors section.


QuickBooks Online will automatically generate your 1099 forms based on the data you have entered. You can review and edit each contractor's information and payment amount by clicking on their name. You can also add or remove contractors from the list by clicking on Add Contractor or Exclude Contractor.


Make sure you have entered the correct tax identification number (TIN) and address for each contractor. You can verify their TIN by using the IRS TIN Matching Program.


For more details on how to create your 1099 forms, check out this guide.


Step 3: Download your 1099 forms from QuickBooks Online




The final step is to download your 1099 forms from QuickBooks Online as PDF files. You can do this by going to the Taxes menu and selecting Forms. Then, click on View/Print Forms under the Contractors section.


You will see a list of your 1099 forms that you have created. You can download each form individually by clicking on the Download icon next to each contractor's name. You can also download all forms at once by clicking on Download All.


You can then print and mail your 1099 forms to your contractors and the IRS by the deadline, which is usually January 31st of the following year. You can also choose to e-file your forms with the IRS directly from QuickBooks Online, which is faster and more secure. To do this, go to the Taxes menu and select Forms. Then, click on E-file Now under the Contractors section.


You will need to enroll in the QuickBooks Online 1099 E-file Service and pay a fee based on the number of forms you file. You will also need to obtain consent from your contractors to e-file their forms. Once you have completed these steps, you can submit your forms electronically and track their status online.


For more details on how to download or e-file your 1099 forms, check out this guide.


Conclusion




Downloading your 1099 forms from QuickBooks Online is a simple and convenient way to file your taxes and report your contractor payments. By following these three steps, you can create and download your 1099 forms in minutes, using the information you already have in your account.


Here are some tips to help you file your 1099 forms on time and accurately:


  • Keep track of your contractor payments throughout the year and categorize them as 1099 categories in QuickBooks Online.



  • Review and update your contractor information and payment amounts before creating your 1099 forms.



  • Verify your contractor's TIN using the IRS TIN Matching Program.



  • Download or e-file your 1099 forms by January 31st of the following year.



  • Send a copy of the 1099 form to each contractor and keep a copy for yourself.



We hope this article has helped you learn how to download your 1099 forms from QuickBooks Online. If you have any questions, feel free to contact us or check out our FAQs below.


FAQs




  • What is the difference between Form 1099-NEC and Form 1099-MISC?



  • Form 1099-NEC is a new form that was introduced in 2020 to report nonemployee compensation, such as payments to contractors or freelancers for services rendered. Form 1099-MISC is used to report other types of income, such as rent, royalties, or prizes.



  • How do I know if I need to file a 1099 form for a contractor?



  • You need to file a 1099 form for a contractor if you paid them more than $600 in a year for services performed in the course of your trade or business. You do not need to file a 1099 form for a contractor if they are a corporation, an employee, or a vendor that provides goods rather than services.



  • How do I correct a mistake on a 1099 form that I already filed?



  • If you made a mistake on a 1099 form that you already filed, you need to file a corrected form with the IRS and send a copy to the contractor. To do this, go to the Taxes menu and select Forms. Then, click on Prepare Forms under the Contractors section. Find the contractor whose form you want to correct and click on Edit. Make the necessary changes and save them. Then, check the box that says "Corrected" at the top of the form. Finally, download or e-file the corrected form as usual.



  • How do I delete a 1099 form that I created by mistake?



  • If you created a 1099 form by mistake, you can delete it by going to the Taxes menu and selecting Forms. Then, click on View/Print Forms under the Contractors section. Find the contractor whose form you want to delete and click on Delete. Confirm that you want to delete the form and it will be removed from your list.



  • How do I access my previous years' 1099 forms that I filed with QuickBooks Online?



  • You can access your previous years' 1099 forms that you filed with QuickBooks Online by going to the Taxes menu and selecting Forms. Then, click on View/Print Forms under the Contractors section. You will see a drop-down menu that lets you choose the year of the forms you want to view. Select the year and you will see a list of your 1099 forms for that year. You can download or print them as needed.





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