Taxes
Thanks for joining this thread, Mobile Music Unlimited.
I appreciate all your efforts in trying to resolve the issue. Let’s perform another step for the rent to show on the 1099-MISC.
We’ll have to review the vendor’s information and make sure it’s set up to track 1099. Aside from that, check the payment method used for the transactions. Only those contractors you paid above the annual $600 cash threshold will receive 1099.
The IRS doesn't allow electronic payments to be reported on Form 1099-MISC or 1099-NEC. For example, credit card, debit card, gift card, or PayPal payments.
The desktop program automatically excludes them. For more information, check out this article: What payments are excluded from a 1099-NEC and 1099-MISC?
To open the vendor’s profile:
- In your company file, tap the Vendors menu to choose the Vendor Center.
- Go to the Vendors tab and right-click beside the contractor’s name to choose Edit Vendor.
- Navigate to the Tax Settings menu to open the Tax Information screen.
- Make sure the box for Vendor eligible for 1099 is selected.
- Click OK.
Once done, open the 1099 Summary to check if the contractor meets the threshold. Perform Step 2 in this article and choose QuickBooks Desktop: Fix missing contractors or wrong amounts on 1099s.
Additionally, these resources contain solutions on how to fix 1099 issues and steps to file the form.
Feel free to visit the Community again for any other QuickBooks concerns. I’ll be around to answer them for you. Have a good one.
