Summary
I went to Maintain, Default Information, Vendors, 1099 Settings, and there is not an option on the drop-down for the 1099-NEC.
Description
Cause
Resolution
The descriptions in the vendor defaults have been updated in the 2022 release. If you are on 2021.1.1 or earlier, please upgrade to the latest version.
Below is a grid that lists where prior year mapping is mapped for the new 1099s.
1099 Item | 2019 Reporting | 2020 Reporting |
Non-employee compensation | 1099-MISC Box 7 | 1099-NEC Box 1 |
Payer made direct sales $5000 or more consumer product | 1099-MISC Box 9 | 1099-MISC Box 7 |
Crop Insurance Proceeds | 1099-MISC Box 10 | 1099-MISC Box 9 |
Gross Proceeds paid to attorney | 1099-MISC Box 14 | 1099-MISC Box 10 |
Africa
Asia
Australia
Canada
France
Ireland
Kenya
Nigeria
Portugal
South Africa
Spain
United Arab Emirates
United Kingdom