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Level 2
January 13, 2021
Question

1099-MISC

  • January 13, 2021
  • 2 replies
  • 8 views

HOW COME WHEN FILLING OUT THE FORM TO E-FILE FOR 1099-MISC, THE BOX NUMBERS DO NOT LINE UP WITH THE 1099-MISC FORM.  FOR EXAMPLE, WE NEED TO ENTER INFORMATION IN BOX 7 (NON-EMPLOYEE COMPENSATION) AND ON LINE IT SAYS BOX 7 IS "PAYER MADE DIRECT SALES OF $5,000 OR MORE.....", WHICH IS ACTUALLY BOX 9.  IS THERE A CLINCH IN THE PROGRAM?

    2 replies

    DoninGA
    Level 15
    Level 15
    January 13, 2021

    The IRS has issued a new form for nonemployee compensation.  It is Form 1099-NEC where the compensation is entered in box 1

     

    IRS Form 1099-NEC, Nonemployee Compensation - https://www.irs.gov/pub/irs-pdf/f1099nec_20.pdf

    BILLYJBAuthor
    Level 2
    January 13, 2021

    THANK YOU!