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?
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?
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.
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?