QuickBooks 1099 Wizard is an integrated tool provided by Intuit to print and e-file 1099 MISC in reduced time and effort. If you need to prepare and file your federal and state 1099 forms, you can easily employ the QuickBooks Desktop 1099 Wizard to perform this task. Apart from this, you can also receive an email of 1096 form when you need it. But before that is essential to know the process of using this tool. So in this article, we will explain how to utilize “QuickBooks 1099 Wizard for Printing Form.” Now, you may ask that ‘What is the need for the 1099 form?’ Your answer is in this article, and you need to read it till the last.
Suppose, you are paying a contractor/freelancer or vendor more than $600 per year, then you should file a 1099-MISC form, and QB 1099 Wizard can help you to make it done. To fill this form, you should know the guidelines of the IRS (Internal Revenue Service). For example, you may not report the e-payments in 1099-MISC. So all the electronic transactions made via credit card, debit card, gift card, or PayPal payments will be excluded from this. There are payment businesses that will record these payments.
Need to Prepare and File 1099s with QuickBooks Desktop?
If you are living in a state that promotes Combined Federal and State Filing Program, the IRS will assign your 1099-MISC form to you. For some states, you will have to file the form directly. But, not all the states require a 1099-MISC form, so you should check state 1099 filing requirements in the first place. Also, the filing demands can vary from one state to another.
How to Print 1099 in QuickBooks?
- Initially, go to Vendors and choose Print/E-file 1099s.
- Choose the 1099 Wizard, then select Get Started.
- Now select vendors that need to form 1099-MISC and select Continue.
- Check the vendor information is correct or not. You can edit any incorrect records by double-clicking on the section that requires updating.
- Then, go to the drop-down in the Apply payments to the 1099 box segment. Choose the account you want to connect the payment to and hit Continue.
Note: If you see a notice saying your settings do not meet the current IRS thresholds, select Show IRS 1099-MISC filing thresholds and pick Reset to IRS Thresholds.
- After this, review your payment information.
- Here, click on View Included Payments and View Excluded Payments.
- Proceeding further, Click Continue.
- Review the contractors and amounts you are about to report.
- After checking the vendors who don’t fulfill the IRS threshold, select Summary Report.
- Finally, you can choose to Print 1099s.
This is how you can use this wizard tool, and you don’t need to search “How do I use QuickBooks 1099 Wizard?” anymore. Now, you can easily use QuickBooks 1099 Wizard for Printing Form, Print 1099 Form and E-File using QuickBooks Desktop. If you are stuck anywhere, call us at Payroll Customer Service Toll Free Number +1(800) 314-0226 without wasting your business time. We will give you the best guidance shortly.