Which form to use for the contractor who did the repairs on my rental house, 1099-Misc or 1099-NEC?

[intuse2001]

I learned that 1099-NEC is a new form for contractor starting 2020. So which form to use for the contractor who did the repairs on my rental house, 1099-Misc or 1099-NEC? Can I use Turbotax Home&Business to create the form? Will Form-1096 be generated too?

[Critter-3]

1099-NEC is the new form to use ... and if you use the Quick Employer Forms tool both the NEC & 1096 will be produced and you can efile them ... make sure to click that button.  

See this TurboTax support FAQ for Quick Employer Forms - https://ttlc.intuit.com/community/forms/help/how-do-i-create-w-2-and-1099-forms-in-turbotax/01/25869

[intuse2001]

Thanks for the reply! If I only purchased TurboTax Home and Business, can I file 1099-NEC for the contractor using paper file? Will I need to get  Form-1096 as well?

[VolvoGirl]

Yes the Home & Business version lets you prepare 1099NEC and 1096.  If you have the Windows Home & Business you can prepare W2 & 1099 2 ways on your computer using the built in W2/1099 Reporter or online using the QEF Quick Employer Forms.  If you use Quick Employer Forms it electronically files the 1099NEC and 1096 to the IRS and you print the 1099NEC to give your contractor.  If you use the W2/1099 reporter you do it on your computer and print out all the forms to mail to the IRS.

If you are using the Mac Home & Business CD/Download program you can only prepare W2s and 1099s using QEF - Quick Employer Forms.  At the bottom of the Welcome to Turbo Tax screen it should say Create 1099s for Contractors and W2s for Employees