1099 preferences

Preferences: Sales Tax

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To associate accounts with a category:

  1. Make sure that the “1099-MISC forms are filed” checkbox is selected.
  2. In the Account column, click the line that corresponds to the category with which you want to associate accounts.
  3. In the list that appears, select the account you have been using to track that type of 1099 payment to your vendors. (If you have been using more than one account, click Selected and then click, individually, the name of each account.)

    The accounts you select should be the same accounts you use to track payments related to your 1099 vendors. Typically, the accounts will be expense accounts. You can also associate a liability account or an other current asset account with a 1099 category.

Assigning a threshold

Enter the new amount in the Threshold column. The threshold amount is the minimum amount you must report to the IRS. The amounts QuickBooks displays are correct as of the date your copy of QuickBooks was manufactured. When the IRS changes a threshold amount, you must enter the new amount yourself — QuickBooks cannot update the amount for you. To get the latest threshold information, go to the IRS website and search for a copy of 'Instructions for Forms 1099, 1098, 5498, and W-2G'. If you turn off 1099 tracking, QuickBooks removes all menu items and options related to 1099s. You will not be able to print 1099-MISC forms, create 1099 reports, or indicate that a 1099 form must be filed for a vendor. QuickBooks retains all 1099-related data, however.