Can I create a 1099-NEC form for 2023 and file it?

[pilaf8miso]

I need to prepare a 1099-NEC for 2023.  How do I do that?

[emina]

Hello, thanks for joining us today!

Payers use  Form 1099-NEC, Nonemployee Compensation to:

• Report payments made of at least $600 in the course of a trade or business to a person who's not an employee for services, payments to an attorney, or any amount of federal income tax withheld under the backup withholding rules (Form 1099-NEC).
• Report payments of $10 or more made in the course of a trade or business in gross royalties or broker payments in lieu of dividends or tax-exempt interest or $600 or more made in the course of a trade or business in rents or for other specified purposes (Form 1099-MISC).
• Report sales totaling $5,000 or more of consumer products to a person on a buy-sell, a deposit-commission, or other commission basis for resale (Form 1099-NEC or Form 1099-MISC).
• Report payment information to the IRS and the person or business that received the payment.

If you're a business owner, you may need to create W-2 and 1099 forms (including 1099-NEC and 1099-MISC) for your employees or contractors. Here is the link that explains how to do so in TurboTax: https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-forms/create-w-2-1099-forms-employee...

[hannaluo]

Hello, I need to create 1099-NEC for contractors I used.  I am use desk top turbo tax home & business for tax year 2023. The help instruction says I should select "File" from  the top menu and create 1099-NEC. But under the menu "File", there is no place to create 1099. Could you please give more detailed instructions ?

Thanks.

Hanna

[VolvoGirl]

Yes  you can from the desktop Home & Business program.  Are you using a Windows or Mac computer?  They work different.  I don't know how in the Mac H&B.   In the Windows version look in the upper right for Employer Forms Create Forms link.

For Windows there are several ways to get to them, I have screenshots if you can't find them........

You can do them 2 different ways from the Windows Desktop Home & Business program. Either Online using Quick Employer Forms (QEF) -or- directly on your computer with the built in W2/1099 Reporter. . If you use the Reporter on your computer you have to mail them to the IRS and not efile.

In the Window's Home & Business Desktop program to Prepare W2s or 1099s, on the first main screen there are 3 ways to start. Either click on the blue button Start a New Return or click on Create 1099/W-2 or go up to File-New Tax Return.

Or if you are already in a tax return in the upper right there is Employer Forms Create Forms link. Or if you are in the Business tab you can get to the Online Quick Employer Forms under Business Expenses - Other Common Expenses - Contract Labor, click the Start here link.

If you click on the blue Create 1099/W-2 button you will get a box to Create employer forms using Quick Employer Forms OR you can pick Create forms on Desktop at the bottom.

If you click on Start a New Return you will get 2 choices, Check the second circle that says Prepare W-2s and 1099s for my employees or contractors. Then that will expand and give you a choice to prepare them Online (Recommended) or On My Computer.

If you go up to File-New Tax return you will get 2 choices, 2023 US Form 1040 -or-
2023 US Forms W-2/1099 Reporter. Pick the second one. But this will only give you the Desktop Reporter version and not file them online. You will have to print and mail to the IRS.

[hannaluo]

Thank you for your explanation. I have a Mac computer, but your answer for Windows helped me figuring out how to do it.

On Mac, I need to click "File" on the top menu of the screen instead of the Turbo Tax window, and then choose "Create new return". Now the Turbo Tax window let me choose to work on personal return or business forms.

Thanks.

Hanna