Printing 1099 and 1096 for Tax Year 2020


In 2020 the IRS changed how Non Employee Compensation is reported as well as the meaning  of the other boxes.  The following changes are available in our system:

New DAT reports are added to the “(PCR) Imported” category:
[Finance] 1096 MISC - No Lines
[Finance] 1099 MISC - With Lines  Note: This version should not be sent to the IRS.  Please use official IRS documents.
[Finance] 1096 NEC - No Lines
[Finance] 1099 MISC - No Lines
[Finance] 1099 NEC - No Lines 

The previous versions of the reports have been renamed with the postfix “(Pre-2020)”.  Example: [Finance] 1099 - No Lines (Pre-2020), [Finance] 1096 - No Lines (Pre-2020)

The box numbers have been changed.
Box 9 is “Crop Insurance Proceeds”  Note:  This was formerly box 10.
Box 10 is “Gross Proceeds Paid to an Attorney”  Note:  This was previously recorded in box 14.  
Box 11 is “Fish Purchased for Resale” and is not expected to be used.
Box 12 is “Section 409a Deferrals”
Box 14 is “Nonqualified deferred compensation”
Note: Invoices and Misc Payments made for tax years prior to 2020 will no longer show the description.  Only the box number will be shown.

Continue to record Non Employee Compensation in Box 7.  This will appear in Box 1 on the 1099 NEC.  For the 2020 tax year records, any information previously recorded in one of the boxes listed above must be recorded in the correct new box instead.  Example:  If you recorded “Gross Proceeds Paid to an Attorney” in box 14, please make sure to move that data to Box 10.

See also
DAT   
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