Form 1099-NEC

Vantagepoint provides data for the 1099-NEC work file as detailed on the following tables. You can modify this information on the 1099-NEC tab that displays when you click Edit on the Actions bar.

Options

Field	Description
VOID	This checkbox is usually cleared. Select it on the 1099-NEC tab of the Form 1099 Editor to include void 1099s.
CORRECTED	This checkbox is usually cleared. Select it on the 1099-NEC tab of the Form 1099 Editor to include corrected 1099s.
Exclude this Vendor from 1099-NEC reporting	This checkbox is usually cleared. Select it on the 1099-NEC tab of the Form 1099 Editor to exclude the vendor from 1099-NEC reporting.

Form

Box	Field	Description
	PAYER’S Full Name, Address and Phone Number	The payer’s name, address, ZIP code, and telephone number, from the Form 1099 Processing form
	PAYER’S TIN	The payer’s identification number, from the Form 1099 Processing form
	RECIPIENT’S TIN	The vendor’s identification number
	RECIPIENT’S Name	This field displays one of the following, depending on the value that you choose in the Payment Payee field on the Payments tab of the Accounts Payable form (Settings > Cash Management > Accounts Payable): The name of the vendor Address 1 of the vendor's address
	Street Address (including apt. no.)	This field displays data from the vendor's primary address.
	City, State, and ZIP code	This field displays data from the city, state, and ZIP code in the vendor's primary address.
	Account Number	This field displays the vendor number.
	2nd TIN Not.	This checkbox is usually cleared. Select it on the 1099-NEC tab of the Form 1099 Editor.
1	Non Employee Compensation	This field displays the Paid Last Year amount from the firm record.
2	Payer Made Direct Sales of $5,000 or More	Select this checkbox to report direct sales totaling $5,000 or more of consumer products for resale, on a buy-sell, a deposit-commission, or other basis.
3	Blank
4	Federal Income Tax	This box is usually empty. Enter data through the 1099-NEC tab of the Form 1099 Editor.
5	State Tax Withheld	Enter data for one or two states.
6	State/Payer's State No.	Enter data for one or two states.
7	State Income	Enter data for one or two states.