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DS127
December 24, 2024
Question

1099's in QBO - at what point do I get charged for using the function?

  • December 24, 2024
  • 1 reply
  • 0 views

I have numerous clients to file 1099's for.  We use a third party app outside of QBO to do all the filings. But for my QBO clients, I can't get a report with all the 1099 info I want without going into the "Prepare 1099s" function. 

 

An agent told me the other day (when I was sorting out a PR billing question) that if I do this, that QBO will start a PR subscription and we'll get charged in addition to that for an (uncompleted) 1099 filing.

 

Is that right?  I don't think I have seen this before. 

IOW, can I start the process, go as far as getting the reports, and cancel out before filing and not get charged? Or has it changed? (Intuit's usual tricks.)

 

Thanks.

    1 reply

    A
    Anonymous
    December 24, 2024

    You will not be charged when you prepare the 1099s in QuickBooks Online (QBO), DS127. I'll explain this further.

     

    You can use QBO to prepare 1099 forms for free. This means that the Prepare 1099s feature is accessible without an active subscription, allowing you to gather necessary information and generate reports related to client 1099 filings at no cost, without needing to submit forms through QBO.

     

    Aside from this, you also have the ability to generate detailed reports that can serve as valuable references for your financial records and decision-making processes. These reports can provide insights into various aspects of your transactions, helping you track expenses related to 1099 recipients and ensuring that you have all the necessary information readily available for any audits or assessments.

     

    Lastly, after preparing your 1099 forms, you can print them. Additionally, you can correct or change 1099s in QuickBooks even after e-filing.

     

    I'm still available if you have further questions about preparing 1099s. Simply click on the Reply button and I'll make sure to answer your queries promptly.

    D
    DS127Author
    December 24, 2024

    Thanks for this. So you pay only if/when you actually file, that's what I thought. 

     

    Would be nice if we could mark the specific 1099 type we are tracking (when you add the vendor) - e.g. NEC, MISC and then get a report by payer showing the type, payees, and amounts. 

     

    thanks again.

    Tori B
    Tori B
    December 24, 2024

    Thanks for checking back with us, @DS127.

     

    As my colleague mentioned above, you can pull several different detailed reports for 1099's. To see a list of the reports and steps to run them, check out the help guide I'm including below. 

     

     

    When preparing your 1099s, you can choose the box for the types of payments you made and the expense accounts you use for these payments. That said, QuickBooks will depend on how you set up the details on 1099. I suggest making sure that the accounts and boxes are properly mapped for both the 1099-MISC and 1099-NEC forms so QuickBooks will automatically determine the entries that should go to the 1099-NEC.

     

    To ensure that you select the correct accounts and that the records are in shipshape, I suggest consulting an accountant before properly mapping the tax form. They can provide suggestions on how to properly handle the transactions and the specific account to be used. 

     

    You can open this article to view details on which payments are not included in the 1099 forms: Understand which payments are excluded from a 1099-NEC and 1099-MISC.

     

    Please don't hesitate to let me know if you have any additional questions or concerns. Have a good one! 

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