This video is for Setting up and File 1099-NEC and 1099-Misc for QuickBooks Desktop Users (QuickBooks Pro, Premier) Are you ready for the new 1099-NEC? What are the changes for the 2020 tax year…

New for 2020, nonemployee compensation has been removed from 1099-MISC and given its own form, the 1099-NEC.

Amounts formerly reported in Box 7 of 1099-MISC in 2019 and prior years should now be reported in Box 1 of 1099-NEC.

QB Online Users 1099-NEC training: https://canduskampfer.com/1099-nec-and-1099-misc-online-users/

 

 →  Join my upcoming Free Live Workshop!

 

Need a W9: https://www.irs.gov/pub/irs-pdf/fw9.pdf

IRS 1099-Misc Publication: https://www.irs.gov/pub/irs-pdf/i1099msc.pdf

Ready to Customize QuickBooks for your Business and feel Confident at your next tax appointment?

Join me for my QB Workshop: https://CandusKampfer.com/workshop

Timestamps: (1099-NEC and 1099-Misc for QuickBooks)

0:00 – Intro
0:22 – Changes for 2020 tax year
0:58 – Difference between 1099-NEC & 1099-MISC
1:43 – Entering inside QuickBooks Desktop
2:25 – Print/E-file 1099 forms
4:40 – 1099 NEC/Select Vendors
4:49 – Verify Vendors
5:26 – Map Accounts
9:09 – Review payments
9:52 – Confirm Entries
11:17 – Print 1099/Who gets Forms
11:52 – Print 1096
13:00 – IRS Website (1099)
14:22 – 1099-MISC/Select & Verify Vendors
14:38 – Map Accounts and Review Payments
15:48 – Confirm Entries
16:09 – Print Forms
16:30 – Vendor 1099 Review Report
16:50 – Order 1099 Forms
17:39 – Free Workshop and Final Thoughts

 

Click here to Receive our QB tips straight to your inbox each week visit

I’d love to connect with you 🤗 Instagram or Facebook

Subscribe for more QuickBooks tips on YouTube

 #CandusKampfer

 

Let me know if you’re ready to process your 1099’s now?  👇🏻