Will Quick employer forms be using 1099-NEC?

[qbteachmt · Accepted solution]

You realize that doesn't apply until your 2020 reporting?

[George4Tacks]

I believe that is a NO 2019

[LPF]

What does apply is the fact that starting in 2018 the IRS requires you to report NEC separately from any other 1099misc income.  This requires you to do two batches of 1099s with separate 1098s If you have any payments for anything other than NEC, such as for example.   If you don’t separate them the IRS considers your filing late and is subject to penalties.  

QBO doesn’t support this at all, and while you can get it done in desktop, once you uncheck a vendor while in the 1099 wizard, it unchecks their vendor record also.  So then you have to go correct their setting so you don’t miss them next year.  Totally frustrating.  With the new 2020 form, I hope they get this all ironed out.

[AttackAccountant]

Ok, so now it is near the end of 2020.  I am asking this same question.  Will Quick Employer Forms be ready with the 1099-NEC?

Does anyone know?

[qbteachmt]

"so now it is near the end of 2020"

But it's nearly 3 months until that is even needed. You are asking peer users; not Intuit insiders nor customer support or programming. I think it's safe to state that Intuit will handle the required forms.

[jmbcpa]

I am wondering the same thing.  I would like to assume it would handle them, but would be good to get a definitive  answer.  

[qbteachmt]

Yes, here we are, nearly a year later; yet, still quite a few weeks out from needing the form.

A required form is likely going to be part of a Product that is sold as having Required Forms, which is the point of Quick Employer Forms. In other words, why would they not be in compliance with the IRS? What makes anyone worried that it will not be included? Isn't there enough other stuff to worry about?

"but would be good to get a definitive answer"

Well, you are asking Peer users; this is not programmers or tech support or even customer support. None of us can answer this for you.

You could watch the IRS test site to see their progress, since it is the IRS that releases to forms and formats. I put a bunch of links here:

https://proconnect.intuit.com/community/easyacct-discussions/discussion/new-1099-nec/00/105643