How to Create and File Your Federal 1099s with QuickBooks Desktop

by James Antonio

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Learn about how you can create and file your taxes with a great time-saving feature of QuickBooks Desktop. This feature allows you to prepare your 1099s using the information that is already available in your account. Create and file your federal 1099s with QuickBooks Desktop in minutes. You have to file the tax forms 📃 with the IRS whenever you pay using direct deposit, cash, or check to the contractors.

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When you are done creating the federal 1099 then file them online. You can also print it and then mail it to the IRS. While mailing you get the option to send the mail copies to contractors or not. Here are the detailed steps that help you to create and file federal 1099 with QuickBooks Desktop.

🤔Steps to Create and File your Federal 1099s with QuickBooks Desktop

You have to follow the below steps to create and file federal tax and then print and send or email 📝 them to IRS. Follow the below-mentioned steps carefully:

1. Check out When and What You have to Report for

A. Is it Important to File 1099?

Yes, it is important to file a form 1099-NEC to the IRS for the non-employee. You have to apply for whom you do the following:

  • When you pay $600 or more than this in direct deposit, check, or cash in your previous year.
  • Under the backup withholding rules, when you withhold any federal income tax then you have to file 1099s.

B. When 1099s are Dues?

1099s forms 📃can be due to the IRS and the contractors who are working with you by January 31. You must e-file the tax form before January 28 of every year before 8:59 PM PT.

C. Is it Required to File it in my State?

Many states require separate filing then e-file helps you to do it easily with an additional fee.

2. 1099 Accounts Setup

Many users have already made a number of contractor categories for making the payments. Some businesses categorize it as non-employee compensation and then they won’t even think about it for accounts modifications. Users are required to file 1099-MISC and 1099-NEC if cash payments are made. Both forms are filed to adjust the bank accounts for maintaining and tracking the specific payments. It depends on the selection of boxes that you choose for non-employee payments.

3. QuickBooks Desktop Update

Update QuickBooks Desktop is important that helps you to process in creating and filing your federal 1099s with QuickBooks Desktop. The steps to update it manually are mentioned here:

  • The initial step is to close all the programs that are running on your system🖥️
  • Then go to the QuickBooks icon
  • Right-click on it and choose the option Run as Administrator
  • Go to the main menu of QuickBooks that is at the top
  • Click on the Help menu option
  • Under the help menu, choose to Update the QuickBooks option
  • Tick mark the checkbox to mark all
  • Now, save it to continue
  • Then click on the button Update Now
  • Along with it choose the Reset Update box
  • After that, click on the Get Update
  • When updates are completely downloaded, restart the QuickBooks Desktop
  • Now it asks you to install the downloaded update
  • Select Yes to agree for installation and after that, you can start using the updated version.

To update QuickBooks Desktop automatically or for more details CLICK HERE.

4. Now Create 1099s in QuickBooks Desktop

  • Select Vendors, then 1099 Forms, and finally Print/E-file 1099 Forms .
  • Make a copy of everything.
  • For the 1099 form, you wish to produce and then choose to Get started. If you need to prepare both a 1099-NEC and a 1099-MISC, follow the steps for each form separately. Important: The 1099 forms and boxes have changed, so choose your forms carefully. Most businesses will choose Non-employee compensation, Box 1 on the 1099-NEC, but if you suspect you may have made other sorts of payments check with your accountant.
    • If you’re filing for New Jersey or Wisconsin, there are particular regulations for boxes 16 and 17 on 1099 forms filed in these states. See Is it necessary for me to file 1099 paperwork with my state?
  • Select the vendors who require a 1099 form and click Next.
  • Make sure the vendor information is accurate. By double-clicking on the part that needs to be updated, you can correct any inaccurate information. Continuing is the option.
  • Vendor payment accounts should be mapped. In the Apply payments to this 1099 box area, select the drop-down menu. Choose the account to which you want to link the payment. If any of the boxes are greyed out, they will be mapped to the other 1099 form. You can only link one account to a 1099 form. Select Continue when you’re finished. Note: If you receive a red notice stating that your settings⚙️ do not match the current IRS thresholds, pick Show IRS 1099-MISC filing thresholds and then Reset to IRS Thresholds.
  • Check the payment information for all the other things.
  • After that review the amount and vendors to whom you are reporting and click on the Continue button
  • Now, you have to click on print 1099s or e-file 1099s. If you choose an e-file option then continue to the next step.

5. Import the Data into Tax1099

When you are done with preparing and creating 1099s in QuickBooks Desktop, press the button of E-file. After pressing the button, it helps you by showing the steps that are shown on your screen to import the data into the account of Tax1099.

6. E-file 1099s

The tax 1099 dashboard displays the list of vendors, boxes, and amounts that are shown from here:

  • To edit the vendor or box information, pick the vendor name or the Edit button, then select the option Update . Changes made in Tax1099 are not reflected in your QuickBooks company file🗄️.
  • 1099-MISC 11th Box: The amount from QuickBooks Desktop will not flow if you use Box 11 on the 1099-MISC and e-file utilizing Tax1099. In Tax1099, you must manually enter the amount.
  • Enter the information in the appropriate state boxes if you need to file 1099s with your state.
  • By ticking the boxes next to the suppliers you wish to upload to e-file, select next. A pop-up notification will show if there are any issues. Select the suppliers again after they’ve been rectified, then click next.
  • By ticking the boxes next to the suppliers you wish to upload to e-file, select next. A pop-up notification will show if there are any issues. Select the suppliers again after they’ve been rectified, then click next.
  • By checking the box next to the Date column, you can select the vendors. By ticking the box under USPS Mail or Email Recipient 📝, you may choose how you want to distribute copies to the recipient/vendors. You can also choose to download multiple PDFs and hand them out to vendors. If you choose USPS Mail, there is an additional cost.
  • Choose your state, then select Next or Calculate Tax1099.com Fee to see the total filing fee.
  • You’ll be brought to the Payment page once you’ve completed the options on the Select Forms page. Select Pay & Submit to e-File after entering your payment information.
  • If you need to prepare both a 1099-NEC and a 1099-MISC, follow the steps for each form separately.

7. Review the Filing Status

When you are done with the above step that is file your tax form then check for the status of the e-file 1099 form after submitting it. In the end, you have to check for the submission status.

In this article 📝, you get the detailed process to create and file your Federal 1099s with QuickBooks Desktop. The whole process helps you to conveniently create and file taxes using QuickBooks Desktop. For any further queries about the tax forms , you can connect with the Dancing Numbers team💁 anytime whenever required. The expert🕵️‍♀️ team members are available 365 days a year to assist you with all your queries and problems.

Accounting Professionals, CPA, Enterprises, Owners

Looking for a professional expert to get the right assistance for your problems? Here, we have a team of professional and experienced team members to fix your technical, functional, data transfer, installation, update, upgrade, or data migrations errors. We are here at Dancing Numbers available to assist you with all your queries. To fix these queries you can get in touch with us via a toll-free number
+1-347-428-6831 or chat with experts.


How can I Print the 1099 form after Creating and Filing your Federal 1099s with QuickBooks Desktop?

After creating and submitting the 1099 form, you can see that the option to view, email 📝, or print is available so you have to click on the print for printing the 1099 form.

What are the Steps to Check the Submitted Forms when you are done with creating and filing your Federal 1099s with QuickBooks Desktop?

On the Dashboard
Go to the Forms
Further, choose the Manage forms option
Then click on the Tax year of payer and then choose the year
You get the list of recipients and forms got loaded on your screen
Under the Action field, click on the drop-down arrow
You can choose an action for every recipient individually by selecting the action button that is on the right side of each recipient.

Can I do the Correction in 1099s and What Corrections can be done after Creating and Filing your Federal 1099s with QuickBooks Desktop?

Yes, the corrections can be done but are limited. There is a list of fields in which the corrections can be done. The list is as follows:

Payer TIN
Payer Address
Payer Name
Amount
Payer Type
Recipient Type
Recipient Name
Recipient Address
Recipient TIN.

Is it possible to upload the data from Multiple Company Files🗄️ into the Tax 1099 When you are Creating and Filing your Federal 1099s with QuickBooks Desktop?

Yes, you can upload or import the data from multiple company files🗄️ easily. It is done using the web connector by updating web services.

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Frequently Asked Questions

 
How and What all can I Export in Dancing Numbers?

You need to click "Start" to Export data From QuickBooks Desktop using Dancing Numbers, and In the export process, you need to select the type you want to export, like lists, transactions, etc. After that, apply the filters, select the fields, and then do the export.

You can export a Chart of Accounts, Customers, Items, and all the available transactions from QuickBooks Desktop.


How can I Import in Dancing Numbers?

To use the service, you have to open both the software QuickBooks and Dancing Numbers on your system. To import the data, you have to update the Dancing Numbers file and then map the fields and import it.


How can I Delete in Dancing Numbers?

In the Delete process, select the file, lists, or transactions you want to delete, then apply the filters on the file and then click on the Delete option.


How can I import Credit Card charges into QuickBooks Desktop?

First of all, Click the Import (Start) available on the Home Screen. For selecting the file, click on "select your file," Alternatively, you can also click "Browse file" to browse and choose the desired file. You can also click on the "View sample file" to go to the Dancing Numbers sample file. Then, set up the mapping of the file column related to QuickBooks fields. To review your file data on the preview screen, just click on "next," which shows your file data.


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XLS, XLXS, etc., are supported file formats by Dancing Numbers.


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Dancing Numbers offers four varieties of plans. The most popular one is the basic plan and the Accountant basic, the Accountant pro, and Accountant Premium.


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We provide you support through different channels (Email/Chat/Phone) for your issues, doubts, and queries. We are always available to resolve your issues related to Sales, Technical Queries/Issues, and ON boarding questions in real-time. You can even get the benefits of anytime availability of Premium support for all your issues.


How can I Import Price Level List into QuickBooks Desktop through Dancing Numbers?

First, click the import button on the Home Screen. Then click "Select your file" from your system. Next, set up the mapping of the file column related to the QuickBooks field. Dancing Numbers template file does this automatically; you just need to download the Dancing Number Template file.

To review your file data on the preview screen, just click on "next," which shows your file data.


What are some of the features of Dancing Numbers to be used for QuickBooks Desktop?

Dancing Numbers is SaaS-based software that is easy to integrate with any QuickBooks account. With the help of this software, you can import, export, as well as erase lists and transactions from the Company files. Also, you can simplify and automate the process using Dancing Numbers which will help in saving time and increasing efficiency and productivity. Just fill in the data in the relevant fields and apply the appropriate features and it’s done.

Furthermore, using Dancing Numbers saves a lot of your time and money which you can otherwise invest in the growth and expansion of your business. It is free from any human errors, works automatically, and has a brilliant user-friendly interface and a lot more.


Why should do you change the Employee status instead of deleting them on QuickBooks?

If you are unable to see the option to terminate an employee on your list of active employees on the company payroll, this mostly implies that they have some history. Thus, if you change the employee status instead of deleting it on QuickBooks, the profile and pay records remain in your accounting database without any data loss in your tax payments.


Is it possible to use the Direct Connect option to sync bank transactions and other such details between Bank of America and QuickBooks?

Yes, absolutely. You can use the Direct Connect Option by enrolling for the Direct Connect service which will allow you access to the small business online banking option at bankofamerica.com. This feature allows you to share bills, payments, information, and much more.


Why should do you change the Employee status instead of deleting them on QuickBooks?

If you are unable to see the option to terminate an employee on your list of active employees on the company payroll, this mostly implies that they have some history. Thus, if you change the employee status instead of deleting it on QuickBooks, the profile and pay records remain in your accounting database without any data loss in your tax payments.


What are the various kinds of accounts you could access in QuickBooks?

QuickBooks allows you to access almost all types of accounts, including but not limited to savings account, checking account, credit card accounts, and money market accounts.

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