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We pay a vendor rent payments, but the amount appears on the 1099 in Box 7 as Nonemployee compensation. I have selected 1-Rents for the 1099 Box on the Options tab of the Vendor Maintenance Card. I have also gone into Tools - Utilities - Purchasing - Update 1099 Information, and changed the Tax Type and Box Number for that specific vendor, but it still prints in Box 7. Is there somewhere else I need to enter this information?
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What option did you choose on the update 1099 information window?
1. Vendor:
This option is used to modify tax type or 1099 statement box numbers for a range of vendors only.
2. 1099 Transactions:
This option is used to modify tax type or 1099 statement box numbers for a range of 1099 transactions only.
3. Vendors and 1099 Transactions:
This option is used to modify tax type or 1099 statement box numbers for a range of both vendors and 1099 transactions.
For your case, you need to choose either the option 2 or 3.
Hope this helps!!!
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