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March 11, 2023
Question

Can I "turn off" Quickbooks sending 1099's to contractors with Contractor Payments?

  • March 11, 2023
  • 1 reply
  • 0 views

I am thinking about enrolling for Contractor Payments so that I can pay a few  contractors each week by direct deposit.  I see on the description of the service that Quickbooks sends 1099's to the contractors.  Am I able to turn this feature off? I would rather have my CPA do this.  I haven't enrolled yet.  

1 reply

LieraMarie_A
March 11, 2023

Hi there, @bigmamamushroom.

 

Let me share some information about QuickBooks Contractor Payments.

 

This service helps you prepare your 1099s seamlessly. However, they aren't automatically created for you. You must prepare the 1099s yourself to provide them to your contractors and then file with the IRS or state. You may refer to this article for more info: Understand how contractors get their 1099s.

 

Here’s how to get your 1099s ready to e-file or print:

 

  1. Go to 1099 filings.
  2. Select Prepare 1099s and then Let’s get started.
  3. Make sure your company name, address, and tax ID is correct and matches what's found on tax notices or letters from the IRS. Select Next.
  4. Select the 1099 boxes you want for your contractor payments or expenses. Then select the categories, Contractor Payment or Contractor Reimbursement used for these expenses or payments. Select Next.
    • Important: Choose your boxes carefully. Most businesses will choose “Nonemployee compensation (Box 1 1099-NEC)”, but check with your accountant if you think you might have made other types of payments.
  5. Make sure that all of your contractors show up and their personal info and email addresses are correct. Select Next.
  6. Review the payment totals for each box you selected in step 4. 1099-NEC and 1099-MISC payments are automatically separated. Select Finish preparing 1099s.
    • Note: You won't see certain electronic payments such as those made by credit card. This is because these are reported for you by the credit card company, bank, etc. If you don’t see all of the payments you expect, you can double-check the year and threshold just above the contractor column.
  7. Select E-File for me to e-file your 1099s. Or select I’ll file myself to print and mail the forms yourself.

 

Additionally, we offer a guide on how to pull up reports that show who needs 1099s, payment totals, and more: 1099s Reports.

 

Fill me in if there's anything else I can do for you. I'm determined to ensure your success. Have a wonderful day!