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Third party network transactions and the 1099-NEC form
I was informed that third party network transactions do not require a 1099-NEC to be filed.
I pay our vendors, including individuals, through QuickBooks Payments, which is a third party network.
I paid someone for a "service", not merchandise, using QuickBooks Payments.
Is it correct that I will not need to file a 1099-Nec for this individual since it will get reported on a 1099-K?
Thank you.
March 26, 2024
9:07 AM