Little Square

There's more on
this topic at:

Using the 1099 wizard to create 1099s

If you're reading this, it's probably tax time and you've got some Form 1099-MISCs to prepare for subcontractors you've paid this year.

Important: You can only run the 1099 wizard in January and February, when it's time to prepare your 1099s and send them to the IRS and your contractors.

First the good news--you might not need to create 1099s for your contractors after all. If you paid your contractors using credit cards, debit cards, PayPal, the Intuit PaymentNetwork, or similar payment network services, you're off the hook. You don't have to create 1099-MISCs for these contractors. We've got another help topic that describes the IRS changes to 1099 reporting laws in tax year 2011 in detail.

video See how to create 1099-MISC forms.

Creating 1099-MISC Forms

OK, enough talk, let’s start getting those 1099s done. First, you need to download and install the updated 1099 Wizard.

  1. To get started preparing your 1099s, go to one of the two access points to open the 1099 Wizard:
    Files > Print Forms > 1099s
    or
    Vendors > Print 1099s/1096s

Step 1: Select your 1099 vendors and review your 1099 vendor’s information

On the  Select and Review your 1099 vendor’s information window, you need to be sure all the vendors you need to print a 1099 for are set up that way in QuickBooks. On this window, QuickBooks lists all your vendors. If you’ve set up a vendor as a 1099 vendor in the Vendor Center, you’ll see a check next to that vendor’s name on this window.

  1. Open the Select and Review your 1099 vendor’s information list. QuickBooks 1099 wizard 2011
  2. If you see any vendor that you need to print a 1099 for who doesn’t have a check mark, select the checkbox for that vendor.
  3. Review each 1099 vendor’s information to be sure it’s current. If you need to correct anything, double-click the vendor name. The Vendor window opens, so  you can make any changes you need.
  4. Click Next when you’re done.

Step 2: Map your accounts

If you’ve printed 1099s for vendors in the past, this window should look familiar. It’s your 1099s preferences screen. This is where you set up which accounts you’re using for which box on the 1099 form.