Designting 1099Misc versus 1099NEC

[rgrthumb]

We have a retiree who needs a 1099 Misc, but I can only print 1099 NEC (which is needed for all other 099 recipients) forms.

[Zorak]

The 1099-MISC form is for rents paid. 1099-NEC is for non employee contractors.

If the person actually needs a 1099-MISC instead of NEC, you can make that change on the Maintain Vendor Records screen, changing the Non-Empl to Rent in the options listed underneath the Print 1099 checkbox on the Account Information tab.

[rgrthumb]

That solution works, just seems a bit odd to classify my retiree payment as rent.

[rgrthumb]

Checking "Rent" works. Just seems a bit odd to get the needed 1099 Misc form for my retiree. Thanks!!

[NeilZ]

Checking "Rent" works. Just seems a bit odd to get the needed 1099 Misc form for my retiree. Thanks!!

If the IRS says that the person who is getting retirement benefits, I'm assuming a pension, gets a 1099-MISC, then that's what the person gets. That said, are you sure he gets a 1099-MISC and not a 1099-R which is for Pensions?? Have you checked with a good tax accountant to be sure?

[rgrthumb]

This is a non-qualified pension, so yes, it needs to be a 1099 Misc. The problem with PowerChurch is that when designating Rents, the amount is printed in box 1 Rents, when it needs to go into box 3 Other Income.

[NeilZ]

This is a non-qualified pension, so yes, it needs to be a 1099 Misc. The problem with PowerChurch is that when designating Rents, the amount is printed in box 1 Rents, when it needs to go into box 3 Other Income.

You should be able to 'edit' the 1099-misc before you print just like you can with the W2. You'll have to mark up their vendor record to allow 1099, and select rents. But I just tested and you can edit the 1099 to delete the amount from rent and add it to the box 3 location. The 1096 should reflect the same amount so you shouldn't have to mess with that.

Hope this helps.

[rgrthumb]

That did resolve the issue. Thanks for staying with me on this.

[NeilZ]

That did resolve the issue. Thanks for staying with me on this.

I try to help where I can ...