Proseries Basic needs form 1099-NEC

Forum|Forum|5 years ago
December 3, 2020
14 replies
56 views

The Pro product has 1099-NEC currently but the Basic product does not have it listed.

Please don't forget to add it to the 'Where do I Enter?' option.

ProSeries Basic

This topic has been closed for replies.

Just-Lisa-Now-

Intuit Community Champion

Im sure they'll get it included at some point, but you really dont need it, just enter their income in on Sch C, yout don't need to enter the actual 1099.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

R

Randy Haynes

Level 4

The only problem with not including the 1099-NEC and just adding that income on the Schedule C is that you now risk getting a letter from the IRS asking you to explain the lack of it based on their document matching. Your total income may be correct, but they do not know that.

R

Randy Haynes

Level 4

@Randy Haynes wrote:

The only problem with not including the 1099-NEC and just adding that income on the Schedule C is that you now risk getting a letter from the IRS asking you to explain the lack of it based on their document matching. Your total income may be correct, but they do not know that.

I have never once, in over 25 years, filled out a 1099MISC worksheet for Sch C income. I always put the total business income on Line 1 of the Sch C. As long as your total income equals or exceeds what's been reported to IRS in 1099s, no IRS letter would be generated.

I have not had that same experience. I have had several clients over the years who have received letters from the IRS asking for clarification on the Schedule C income, even though the income listed was greater than the 1099-MISC income.

A

athaureaux6

Level 7

Hi, in Proseries Basic, go to Forms, Find Forms and look for 1099 NEC and you will be able to work on it. But you are right they have not added to the Where do I enter option. But they also fixed on the Schedule C, Now it says NEC or 1099. Little by little. Do not worry. But I was just like you are. Hope this helps. Have a great day

T

TNT1Author

Level 3

Thank you for this information.

I find that doing a search doesn't actually find the correct form but goes instead to 1099-A, but in the first section (bar moved all the way to the left) that 1099-NEC is listed on the last column.

At least it's a way to find the form... now if they would just add on the 'Income Checklist' tab under 1099-MISC that would be perfect.

Thank you again for sharing.