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Yes - You can create and file form 1096 and 1099 forms through TurboTax. Keep in mind that now, if you are reporting non-employee compensation, you need to prepare 1099-NEC instead of 1099-MISC.
To create 2020 1099-MISC forms you need to use the 2020 version of either TurboTax Self-Employed (online) or TurboTax Home & Business or TurboTax Business (CD/Download). See the directions below.
TurboTax Self-Employed [Online]
TurboTax Home & Business [CD/Download]
Note: If you already have a tax return open, choose New Tax Return from the TurboTax File menu. Click Yes to save the return you currently have open.
Is the paper form 1096 that prints from TurboTax scannable by the IRS?
Can you please resubmit your question with more detail?
I believe the question here is an answer already known but Intuit is misleading. It seems Intuit stating Turbotax Business supports creating/printing 1099 forms that satisfy IRS requirements for submitting 1099 forms to the IRS for processing is misleading. Does it satisfy IRS requirements for mailing 1099 forms to the IRS? I believe the answer is s big NO. Unsuspecting purchasers of this product may subject themselves to penalties if they follow what appears is advertised you can do with the TurboTax Business product. Submitting 1099 forms to the IRS require special red ink and forms can be ordered via IRS without charge. The RED INK is not the same as red ink from a color printer. See header here:
https://www.irs.gov/pub/irs-pdf/f1099msc.pdf
now, follow up, does the Business Product support electronically filling 1099 IRS forms to the IRS?
regards
Do you have the Home & Business version? Windows or Mac?
WINDOWS
In the Window's Home & Business or Business Desktop program to Prepare W2s or 1099s, go to Start a New Return or File-New Return.
Then on the next screen it asks What would you like to do?
Check the circle that says Prepare W-2s and 1099s for my employees or contractors. Then that will expand and give you a choice to prepare them online or on your computer.
If you select to do them online using the Quick Employer Forms the forms are efiled to the IRS. You then print the copies to give out to your people and print copies for yourself. See this for more info…..
https://ttlc.intuit.com/community/forms/help/what-is-quick-employer-forms/00/25916
If you select to do them on your computer you are responsible to mail the forms to the IRS.
MAC
If you are using the Mac Home & Business CD/Download program you can only prepare W2s and 1099s using QEF-Quick Employer Forms. At the bottom of the Welcome to Turbo Tax screen it should say Create 1099s for Contractors and W2s for Employees.
Another way to get to the Quick Employer Forms is to go to the Business tab - Continue
Select I'll Choose what I work on (if it comes up)
Top item Profit or Loss from Business - Click Start
Click Edit by your Business
Then either
Scroll down to Business Expenses
On Other Common Business Expenses, click the start or update button
There are two sections where you can start using the QEF for contractors or employees.
For Contractors, on Contract Labor, Click the Start button
On the screen "Enter Contract Labor Expenses" there is shown "Create and File W-2s and 1099s Online with Turbo Tax Quick Employer Forms" and a "Start here" blue highlighted link. This will take you to the QEF website.
@Estate Admin The forms are e-filed to the SSA and IRS using Quick Employer Forms.
See this TurboTax support FAQ for Quick Employer Forms - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-forms/quick-employer-forms/L0fQSM1hz...
Thanks.
I don't see anyone posted the main FAQ. How to prepare 1099Misc & W2 Forms
https://ttlc.intuit.com/community/forms/help/how-do-i-create-w-2-and-1099-forms-in-turbotax/00/25869
Hmmmmm, looking at it now it seems the Mac Home & Business program does not prepare them at all either way.
This answer doesn't say specifically that Turbo Tax actual electronically files the 1096 and 1099 forms. Usually you get a confirmation of 'accepted' or 'rejected'. I didn't see this confirmation. So, do I have to retype the 1099 & 1096 transmittal report and mail to the IRS?
Intuit will send you an email that confirms that the forms were submitted through Quick Employer Forms.
You will be sent a second email when your forms are accepted or rejected.
It may take several days to process and return an acceptance.
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