W9s

I provided W9s to people in 2019. Where do I input that info into TurboTax?

MinhT1
Expert Alumni

Deductions & credits

Forms W-9 you fill out are for payers to report your income.

 

You do not enter these forms W-9 on your tax return.

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Deductions & credits

Right. I paid them. They filled out the W9s. Where do I report what I paid them in TT? Would it be under the "Enter Contract Labor Expenses"?

Thank you in advance!

BillM223
Expert Alumni

Deductions & credits

I imagine that you used the W-9s to be able to generate the 1099-MISC forms that you sent to your contractors, right?

 

Then, yes, report such payments under Contract Labor.

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Deductions & credits

Did you issue them the 1099Misc?

 

If you paid anyone $600 or more you need to give them a 1099Misc.  But not to corporations or for merchandise. You send the IRS a copy of the 1099Misc with the transmittal summary form 1096. These are due to the person by Jan 31 and to the IRS by Jan 31 also.

 

That is Contract Labor on Schedule C line 11.

 

How to enter Contract Labor

https://ttlc.intuit.com/community/entering-importing/help/how-do-i-enter-contract-labor/00/27407

Deductions & credits

I did not know I needed to send 1099 MISC to them.

I had them fill out their W9s from their tournament winnings in 2019 since they won more than $600.

Can I still generate them now?

Deductions & credits

If you didn't know about sending them 1099Misc why did you have them fill out the W9?  But are you reporting Winnings or payments for working?  If it is winnings it would not go under Contract Labor.  Not sure how you report that.  Are you filling out a schedule C for your own self employment income?

Deductions & credits

It was for a Professional disc golf tournament.

The winners always filled out W9s in the past but this past year, all paid winnings went through me for the first time. It was a very bad experience. So bad, I am not affiliated with the event this year. I am not a small business but a small local sports club. Our PayPal is in my name so PayPal's 1099K is under my ss#. I am reporting winnings that are a direct result of their entry that was sent to me via PayPal.

Deductions & credits

At this point, I am lost and do not know where to turn :( !

Thank you for your time tho!

Deductions & credits

Your Sch C will report the income from all sources  and then the payouts to the participants and any other costs that you incurred.   Since they did not work for you then the 1099-misc forms should report the payout in box 3  NOT box 7  and you should issue them now even though they are late.   DO NOT use the contract labor section instead  make your own category in the misc expenses section.  

Deductions & credits

If you are using the Online Self Employed version or Desktop Home & Business program you can use Turbo Tax to create 1099Misc.

 

How to create W2s and 1099

https://ttlc.intuit.com/community/forms/help/how-do-i-create-w-2-and-1099-forms-in-turbotax/00/25869

 

or here is IRS 1099Misc 

https://www.irs.gov/pub/irs-pdf/f1099msc_19.pdf 

 

and instructions 

https://www.irs.gov/pub/irs-pdf/i1099msc_19.pdf