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Other questions
To ensure all your 1099 filings are accurate, Susan, let me help you sort this out smoothly.
You have mentioned that your contractors are eligible for 1099 reporting because they meet the criteria that payments were exceeded the $600 minimum threshold.
Please note that payments made via credit cards, debit cards, gift cards, or third-party processors like PayPal are not included in 1099 reports and will automatically excluded by QuickBooks Online (QBO). This is because the financial institutions take on the responsibility of reporting these payments, sparing you the hassle of doing it yourself. This ensures that all transactions are accurately documented without requiring any effort on your part.
For more details which payment should be excluded, please refer to this article: Understand which payments are excluded from a 1099-NEC and 1099-MISC.
Additionally, I have included these articles to help you learn more about preparing and filing 1099 forms in QBO:
- Troubleshoot missing contractors or wrong amounts on 1099s.
- Prepare and File your Federal 1099 with QuickBooks Online.
Furthermore, consider Explore QuickBooks Payroll for efficient management of your taxes and forms. With QuickBooks Payroll, our team will take care of your paperwork and ensure compliance with all regulations.
Feel free to reach out if you have any further questions or need more assistance with your 1099 forms. We're here to ensure that everything is well-aligned for your tax filings.