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/
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
Let me know if you’re ready to process your 1099’s now? 
I ordered the 1099-NEC forms from the IRS, are they going to print correctly with the perforation on the side? You say at the end we can order the forms from Intuit if we’re not going to e-file. Does that mean if I e-file I don’t have to give a paper form to the vendor?? I’m so confused. Also, in IRS the IRS publication that came with my forms, it states the forms must be filed electronically through the FIRE System. I have QuickBooks Enhanced Payroll, will it e-file for me?
Joan, if you e-file they mail the vendors the 1099’s.
Enhanced Payroll is different than 1099’s.
Intuit does offer a e-file service.
Hi! I’m using QB Desktop 2019. I’ve tried multiple times to update my version so I can access the 1099NEC forms and reports. But even after the prompt showing it was successful and logging out and back in, it doesn’t seem to have updated. I’ve tried searching for videos on updating and troubleshooting, but I’m coming up empty. Do you have a quick video on this, or could you give me ideas about what went wrong and fixes for it? I’d appreciate it. Thank you.
Loved this video! I’m admin assistant to the President of an organization and work alongside our booker regularly. This helps me understand what exactly is going on behind her computer screen before she prints checks and prepares for EOY.
I had no idea there was a change in forms on the 1099s.
I work for a rental management company that is switching to QB soI am always grateful for your trainings.
Thank you
Maria,
I’m glad this helped you.
You would be using both the 1099-NEC and 1099-Misc.
Have a great day!
I watched your instructions on the new 1099-NEC for desktop. Two (2) words: Comprehensive & Excellent!
Well done, a most needed tutorial!
Thank you so much for this video. I had no idea there was a change in forms. I am a Simplified subscriber and I am always grateful for your trainings.
I was a bit confused about the Rent explanation. If possible could you email me a bit more detail. I collect rent for some of my houses and the others are with management company. Usually i have my CPA do everything 1099 related but I didn’t have my normal appt with her due to Covid outbreak in our community (am staying home and safe).
I think i understand how to do the labor 1099 nec forms and how to file them thanks to this video. I was not clear about the 1099 misc rent forms that you mentioned. Would i fill out those per house that i collect rent from or just let my CPA take care of that part when she does my taxes.
Hello Andree,
In QBS we have a more in-depth training we emailed you the replay link 🙂
You will provide 1099’s to the owners, not the tenants if you manage properties.
If you pay rent for your business for a building or equipment you would also send 1099’s for any rent you paid to a business over $600.
Have a great day!