I have a small business and paid a contractor for the first time in 2020 (payment was more than $1,000). I couldn't figure out how to do the 1099-NEC through turbo tax, so I sent her a 1099-NEC that I did manually. I have already filed my taxes through Turbo tax. How do I now submit this 1099-NEC to the IRS?
Mail it to the appropriate address shown in the screenshot below (from General Instructions for Certain Information Returns).
IRS Section 6071(c) requires you to file Form 1099-NEC on or before February 1, 2021, using either paper or electronic filing procedures. (from 2020 Instructions for Forms 1099-MISC and 1099-NEC)
Thank you so much-this is what I needed! I had been reading and reading the IRS website and for some reason could not find this.
Hi, I'm struggling with this for 2021. I just completed two 1099-NEC for the people I paid more than $600 to. Before, when I did this several years ago, I had to report to the IRS, the total amount of the 1099's I issued via a form. I can't seem to locate the form or find it in my 2021 Turbo Tax home and business edition. Can you please direct me? thanks.
Are you using the Desktop Home & Business program? For Windows or Mac?
For Windows you can prepare and file them 2 ways, using online Quick Employer Forms or using the built in W2/1099 reporter on your computer. Which did you use?
For Mac Home & Business you can only use the Online Quick Employer Forms. In Quick Employer Forms you only efile the 1099NEC and 1096 transmittal form to the IRS.