Question

Generating 1099-MISC for non-employee contractor

Forum|Forum|6 years ago
November 7, 2019
2 replies
0 views

I usually use TurboTax Premier. But this year, during the renovation of a house (not a business), I paid a contractor to manage the renovation. As such, I need to file a 1099-MISC for this contractor (and I think a W9).

Does TurboTax Home & Business actually include and generate these forms? Also, would TurboTax truncate (mask) my social security number on the copy sent to the contractor? I would think it is a privacy concern sending out your SSN to contractors.

TurboTax Home & Biz Windows

DoninGA

Employee

The TurboTax desktop edition of Home & Business can be used to generate a 1099-MISC. See this TurboTax support FAQ - https://ttlc.intuit.com/community/forms/help/how-do-i-create-w-2-and-1099-forms-in-turbotax/01/25869

The Payer's TIN has to be entered fully on the 1099-MISC. The payee has to report the Form 1099-MISC they received on their tax return.

If you do not want your Social Security number on the Form 1099-MISC then you should apply for an Employer Identification Number from the IRS - https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online

S

sendchuckAuthor

Thanks for this information. With regard to applying for an EIN, does that require you to incorporate in any way, or file a business tax return? This was a business venture (flipping a house), but is not my regular business (I'm not a real estate professional).

Critter

Employee

You get one as a sole proprietor since you will be filing a Sch C for the flip ... https://www.irs.gov/pub/irs-pdf/fss4.pdf

T

TomD8

Employee

You may be aware of this already, but you only issue a 1099-MISC for services in the course of your trade or business. It is not issued for personal expenses, such as a contractor working on your personal residence.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.