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