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How To Add 1099-NEC To Your Sage 100 Tax Forms

October 29, 2020 by Wayne Schulz

Starting with the 2020 tax year the IRS has updated the 1099 form and added the 1099-NEC which replaces some of the reporting on the previous 1099-MISC form.

An updated utility was released on December 15, 2020, which allows for moving data that may have been in open A/P invoices. Read the Sage KB entry here for more information and to download the utility.

The IRS have essentially removed the non-employee compensation reporting from the 1099-MISC and added it to form 1099-NEC.

You can review the 2020 rules for form 1099-MISC and 1099-NEC here.

For the purpose of Sage 100 1099-NEC reporting you will need to be on one of the following Sage 100 or Sage 100cloud versions.

The new form 1099-NEC Nonemployee Compensation was included in Sage 100 versions 2020.1, 2019.4, and 2018.10 only. This will also include changes to 1099-MISC.

A utility is available to allow customers to move data already updated in year 2020 from the 1099-MISC Form Box 7 Nonemployee Compensation box to the 1099-NEC form Box 1 for year 2020. This utility should only be used as a one-time tool for tax reporting year 2020 only. See AP_Update1099s_utl.pdf or details on how to use this utility in Sage 100 2020, 2019.3, and 2018.9.



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Filed Under: Sage 100 ERP, sage 100cloud Tagged With: 1099-NEC, irs, sage 100

About Wayne Schulz

Wayne Schulz is a Sage 100 Consultant located in Connecticut. He has worked with Sage 100 and Sage 100cloud ( Formerly Sage MAS 90 and MAS 200) since 1986 and provides advanced Sage 100 technical support to companies located in Connecticut, Massachusetts, Rhode Island, New York and throughout the United States. If you are experiencing an issue with Sage 100, and would like to schedule a support session - please request assistance here or call 833-724-3100.

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