I reviewed your initial questions from this post, @SAustin. I'd like to share some thoughts about excluding payments from 1099.
The option to use a list of terms to hide payments from the 1099 Detail report is currently unavailable in QuickBooks Desktop.
Most excluded payments are identified by account type, such as credit card payments. Some can be identified by key terms such as "Debit," "Debitcard," "DBT," "DBT card," "DCard," "Debit CD," "Visa," "Mastercard," "MC," "MCard," "Chase," "Discover," "Diners," and "PayPal."
Any payment made using a credit card, debit card, or third-party platform like PayPal, Venmo, etc is excluded from 1099. These transactions can be excluded by using the above keyword suggestions. By putting these codes or terms, it's simply telling QuickBooks that this isn't a check or a direct money transfer that's being paid with a card or some sort. In this case, QuickBooks is going to exclude them.
Additionally, I suggest making sure that the account type for the transaction you want to hide is correctly mapped as Omit these payments from 1099. You can do that by simply going to Preferences. Here's how:
- Open the Edit menu.
- Click on Preferences and go to Tax: 1099.
- Go to the Company Preferences tab.
- Click on the Yes radio button.
- Select Click here under If you want to map your accounts to boxes on Form 1099-MISC.
- Choose Show all accounts from the drop-down.
- Omit all payments you want to exclude from the form.
- Lastly, click on Save and close.
That should do it! I'll also attach these handy articles about handling 1099 in QuickBooks.
Keep in touch so we can help you further about this matter or QuickBooks in particular. Have a good one!
