Hi there, wdlsc.
Welcome and thank you for posting your concern to QuickBooks Community. I'll make sure you're able to see the different information about the latest boxes for 1099.
The IRS has separated nonemployee compensation onto a new form called the 1099-NEC for the tax year 2020. With this, the IRS has revised Form 1099-MISC and rearranged box numbers for reporting certain income. You'll need to adjust or change the mapping of your chart of accounts to ensure each form has accounts set up specifically for it. This way, we can track the payment separately. Here's how:
- Go to the Lists menu, then choose Chart of Accounts.
- Click the Account dropdown, then choose New to create a new account or click edit to an existing account.
- Choose an account type of Expense, Other Expense, or COGS, then click Continue.
- Enter the Account Name and details such as Description, Note, and Tax-line Mapping.
- Select Save & Close.
You can follow the same process for each new account to report on the 1099-NEC. Then, create a journal entry to move amounts to show in the newly created 1099-NEC accounts or you can edit existing payments to the new accounts. For more details, you can check out Step 4: Move the payments to the new account outlined in this article: How to modify your chart of accounts for your 1099-MISC and 1099-NEC filing.
However, if the issue continues to occur, I recommend running the Verify/Rebuild tool. This helps identify the most commonly known data issues within the file and resolves it. The Verify Data utility identifies any potential data damage issues that could cause unable rearrange the mapping of the accounts for box numbers for reporting certain income. On the other hand, the Rebuild Data utility repairs damaged data in your company file. Before we begin with the troubleshooting, let's secure a backup of your company file.
Here’s how to verify:
- Go to the File menu.
- Select Utilities.
- Click Verify Data then select OK to close all windows.
To rebuild:
- Go to the File menu.
- Select Utilities.
- QuickBooks will ask to make a backup before rebuilding your company file, select OK.
- Once the rebuild is done, click OK.
For more details in verifying and rebuilding your QBDT, you can check out this article for reference: Verify and rebuild data in QuickBooks Desktop.
Once done, try again mapping the accounts, and please make sure that the account is not inactive when selecting accounts for 1099 MISC.
If the problem persists, I suggest contacting our QuickBooks Support Team if the problem continues to occur. They have the tools to pull your account and investigate the cause of the issue.
- Press F1 to open the Help window.
- From the search icon, type Contact Support.
- Click Contact us at the bottom part.
- Give a brief description of your issue about NEC Box 1 and click the Search button.
- You'll be routed with How to connect with a QuickBooks expert and you choose which one is best for you.
Also, you can go to this article to review more information on what forms or boxes you can choose when entering for both non-employee compensations: Understand payments categories for the 1099-MISC and 1099-NEC.
Don't hesitate to reach out to us. if you have other concerns or questions. We're always here to help. Take care!
