No where can I find forms 1096 or 1099nec to file. I already filed self-employment taxes, is it too late to mail the forms since I got them from the IRS? Shouldn't I be able to e-file these forms as well? Are they typically filed with the schedule SE? Is it okay if the payee already has the information, for her to go ahead and file?
There is a way to complete 1099's needed for your independent contractors through a program named Quick Forms. Quick Employer Forms helps small business owners like yourself quickly and easily create W-2, 1099-NEC, 1099-MISC, 1099-INT, and 1099-DIV forms. It asks you easy questions and then completes the forms for you automatically. It also e-files the forms for you.
These forms are not filed with your personal tax return. They are due to be sent out to your independent contractors and the IRS by January 31st.
I suggest filing these forms as soon as possible as there will be a penalty for each form that was sent in late and/or any forms not filed. Please see the penalty guideline below.
In order to access Quick Forms if you used TurboTax Self-Employed Online, please follow these steps:
@j-dog Did you use Turbo Tax Online Self Employed version or have the Desktop Home & Business version (WIndows or Mac)?
How to prepare 1099Misc & W2
https://ttlc.intuit.com/community/forms/help/how-do-i-create-w-2-and-1099-forms-in-turbotax/00/25869
To prepare W2 and 1099s you need either the online Self Employed version or the Desktop Home & Business program or the separate Desktop Turbo Tax Business program if you need to file a 1120 or 1065 Business return.
To prepare W2s and 1099s in the Online Self Employed version you have to first start your personal return. Then when you log in you select Take me to my Return. Then the next screen should be the Welcome Back screen. At the bottom under Manage your Return it says Create W2s and 1099s. This will take you to the QEF Quick Employer Forms.
If you are already in your return you can log out and back in again to get to the beginning screen.
Or in your return, Anywhere on any screen you see
Help me prepare and file W-2s and 1099s
Click on it and the side box will open, Then click on Quick Employer Forms in the side box.
Log into your account
Scroll down to Your Account and click on Show
Click on Create W-2s and 1099s
You need to give a 1099NEC to anyone you paid $600 or more to for the year. 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.
Yes the payee can go ahead and file their tax return. They don't actually need to get the 1099NEC from you. They can report all their income as cash. Only the total income goes on schedule C line 1. They don't have to list the 1099s. They should be keeping their own records of their income.