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]
- Click on Income and Expenses and then click the Start/Revisit box in the Self-Employment section.
- On the Your 2020 self-employed work summary screen, click Edit next to your business.
- On the Here's your [business] info screen, click the box Add expenses for this work.
- On the Tell us about any expenses screen, scroll down to Less Common Expenses, mark the radio button for Contract Labor and click Continue at the bottom of the screen.
- On the screen, Let's enter the contract labor expenses for your [business], click on the link Help me prepare and file W-2s and 1099s. Then click on the link in the Search box.
- This will take you to the Quick Employer Forms website, where you can prepare your forms.
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.
- On the home screen, Continue Your 2020 Tax Return screen, click the blue Start a New Return button.
- On the next screen, What would you like to do? mark the radio button next to Prepare W-2s and 1099s for my employees or contractors and click Continue
- Follow the on-screen instructions.
