I filled out a 1099 misc for 2020 for rent paid for farm land. I received a rejection email from quick employer forms and was directed to file 1099-nec. Is that correct? Which form do I file for farm land rent?
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I have more or less the same issue as well. I use 1099-MISC to report "Rents" paid for office space but it is rejected. QEF team advise me to use 1099-NEC to report the expenses.
However, 1099-MISC is used for years to report the expenses. I really don't understand it is rejected. Is there a mistake from IRS?
No, don't use 1099-NEC for rents. Intuit is currently having an error/problem with that right now.
You are correct -- Form 1099-MISC is used to report at least $600 in Rents (box 1). Nonemployee compensation, which used to be reported in box 7 on the 1099-MISC, is now reported on the 1099-NEC, box 1.
2021 Instructions for Forms 1099-MISC and 1099-NEC
Thanks for your advice, Irene2805!
It is what I understand after reading the instruction you cited.
So, the coming question is how to fix this issue with TurboTax or IRS?
Please advise.
Thanks
Thanks for your reply.
Just wonder if TurboTax know the issue and is currently working on fixing the problem.
I just resubmitted the same form as before and this time it was accepted. Seems they have some glitches on there end.
I have just e-filed again the same form and will see if it is accepted. Thanks for your info.
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