Open Forum

1099-NEC

  • 1.  1099-NEC

    Posted Aug 16, 2019 12:43 PM
    It appears that the IRS will be moving nonemployee compensation payments from box 7 on form 1099-MISC to the new 1099-NEC beginning with payments made in 2020 on forms filed to the IRS in January 2021.

    Does anyone know if there will be an update to SL to account for this change?

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    LeAnn Blankman
    Accounting Manager
    Tennessee Housing Development Agency
    Nashville TN
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  • 2.  RE: 1099-NEC

    SILVER CONTRIBUTOR
    Posted Aug 26, 2019 10:06 AM
    LeAnn,

    In reviewing the IRS site, it appears that this report is not required this year, but could potentially be required next year.
    So this year's year end updates will not include this report.  From a quick review, it appears that the 1099-NEC is a modified
    version of the reports that currently ship.

    Please respond or reach out to me directly if you or anyone else is seeing or reading something differently.

    Thank you for your time.


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    Jeff Suwyn
    Microsoft Dynamic SL Product and Marketing Manager
    v-jsuwyn@microsoft.com
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