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How to file 1099 NEC with IRS

Forum|Forum|2 years ago
January 7, 2024
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I own a rental property and used an agent to manage the condo rental for me. I paid him with management fees, so need to issue the 1099-NEC form for tax purposes.

How can I file the 1099-NEC with the IRS? Does Turbotax software offer this feature, and if so, which version includes it?

Initially, I considered utilizing the IRIS Taxpayer Portal to apply for a Transmitter Control Code (TCC). However, it appears that system is designed for businesses as it requires an Employer Identification Number (EIN). As an individual taxpayer, I do not have the EIN.

Best answer by VolvoGirl

Yes you need either the Desktop Home & Business program or the Online Premium version. You can upgrade to Home & Business from inside your Premier program. I would stick with the Desktop program. It has more features than the Online version.

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.

VolvoGirl

Employee

What version do you have? If you have the Desktop Home & Business program

How to prepare 1099Misc & W2
https://ttlc.intuit.com/community/forms/help/how-do-i-create-w-2-and-1099-forms-in-turbotax/00/25869

You can prepare W2 and 1099NEC & 1099MISC in either the Desktop Home & Business program or the Online Premium version.

For Online Premium:
Sign in to TurboTax.
Select Tax Home from the left menu (you might already be there).
Scroll down and select Your account.
Select Create W-2s and 1099s.
This will log you in to Quick Employer Forms.
Follow the instructions to create forms online for your employees or contractors.

X

x_m_z1Author

I am using Turbotax Premier desktop version and I can not find the function to create the 1099 form.

Do I have to switch to "Desktop Home & Business program" or "Online Premium" version?

Thank you.

VolvoGirlAnswer

Employee

Yes you need either the Desktop Home & Business program or the Online Premium version. You can upgrade to Home & Business from inside your Premier program. I would stick with the Desktop program. It has more features than the Online version.

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.