1099 NEC correction

3 replies
59 views

A contractor just informed us that he gave the wrong EIN and business name. Can we just simply do a new 1099 NEC?

TurboTax Basic Windows

VolvoGirlAnswer

Level 15

Expert Reviewed

You cannot use Quick Employer Forms to file a correction on your form 1099-NEC electronically. You have to complete a form 1099-NEC manually and also a form 1096 to send a copy of the form 1099-NEC to the IRS. On the corrected form 1099-NEC enter the correct information and amount and check the Corrected Box on the top of the form. Give a copy to the contractor and send a copy to the social security administration along with the transmittal form 1096. You can use the form 1096 and 1099-NEC that you originally prepared as a guide to complete the corrected forms. You can find the forms online and type them in by using these links:

https://www.irs.gov/pub/irs-pdf/f1099nec.pdf
https://www.irs.gov/pub/irs-pdf/f1096.pdf

And see Quick Employer Forms FAQ
https://quickemployerforms.intuit.com/faq.htm

VolvoGirlAnswer

Level 15

Expert Reviewed

https://www.irs.gov/pub/irs-pdf/f1099nec.pdf
https://www.irs.gov/pub/irs-pdf/f1096.pdf

And see Quick Employer Forms FAQ
https://quickemployerforms.intuit.com/faq.htm

BAY AREA BOOKS

Level 2

According to the IRS - if you e-filed forms 1099-NEC then you have to e-file the corrected 1099-NEC as well. You can not mail in the corrections. How to you mark a corrected 1099-NEC as corrected? This is to change a name that was incorrect. TT instructions say you have to cancel the submitted/accepted return and then create a new 1099-NEC with correct name - my question - how do you mark the new 1099-NEC as corrected to efile?