It's great that you can now correct the 1099 form, John. I can walk you through submitting the right one to ensure accuracy in your tax reporting and full compliance with IRS regulations.
You can correct the form after the IRS accepts your 1099s. We can then switch the form type from 1099-MISC to 1099-NEC by following these steps as we e-file the correction:
- E-file the original form again:
- The corrected checkbox is selected on the form.
- The form will include the original contractor info and TIN.
- All boxes will be zero dollars ($0).
- E-file a new form with the correct info.
Additionally, please refer to this article for more ways of rectifying the forms: Correct or change 1099s in QuickBooks.
Furthermore, you'll need to provide a copy of the corrected 1099 forms to contractors: Print your 1099 and 1096 forms.
You can return here whenever you have more questions about the correction process of the 1099 forms. We'll help you maintain accurate financial records and comply with tax obligations.
