To prepare 1099-MISC form for your contractors and/or enter the expense for hiring contract labor, please follow these steps:
Go back into your
business return
- Click on the Business tab
> Continue > I'll choose what to work on
- On the Let’s gather your
business info screen, in the Business Income and Expenses
section, click the Start/Update button. [See Screenshot
#1, attached.]
- If you have already started
adding information about your business, you will see the Here's the
business info we have so far screen. Click on the Edit
box next to the business. [Screenshot #2]
- If you haven't already started
adding business information, continue through the screens to enter the
needed information.
Enter Expense/Prepare 1099s
- You will now be on the Your
[XX] Business screen. In the Business Expenses section,
click on the Start/Update box next to Other Common Business Expense. [Screenshot #3]
- On the next screen, Let's write off some business expenses, click on the Start/Update box next to Contract Labor.
[Screenshot #4]
- On the next screen, Enter Contract Labor Expenses, you can do two things:
- Enter the expenses for your contract labor.
- Create and file W-2s and 1099s online with TurboTax Quick Employer Forms (QEF). Click on the Start Here link. This will take you to the QEF website to prepare your forms.[Screenshot #5]
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