How do I track and setup 1099 reporting in QuickBooks?

Setting up QuickBooks for reporting payments on 1099-MISC forms

If you work with individuals or companies to whom you send 1099-MISC forms, you can set up QuickBooks to track all 1099-related payments. At the end of the year, you can have QuickBooks print your 1099-MISC forms.

  1. Open the 1099 tax preferences.
  2. For the "Do you file 1099-MISC forms?" option, select Yes.
  3. Link the 1099 categories you report to the IRS to the QuickBooks accounts you track them in, and then click OK.
  4. Set up the appropriate vendors to be eligible for receiving 1099-MISC forms. Open and edit the appropriate vendor by checking the box under the additional info tab.

Each time you make a payment to a 1099 vendor, QuickBooks automatically adds the amount to the total you must report on the vendor's 1099-MISC form. You can view your 1099-related payments by creating 1099 reports. After verifying that the reports include the right vendors and cover the right accounts, you can print 1099 reporting forms for your vendors on preprinted forms designed for your printer.

If you have questions about how to setup 1099 reporting in quickbooks, please contact our office.

This information is based on facts, assumptions and representations as stated and authorities that are subject to change.  We will not update this information for subsequent legislative or administrative changes of future judicial interpretations.

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