Can I file 1099-INT thru QB?

Thank you for posting here, Blair63. QuickBooks enables you to print vendors and prepare 1099-INT forms selectively. Nevertheless, QuickBooks cannot e-file these forms or correctly print the necessary 1096 to accompany them, as it defaults to checking the MISC box for the type being filed. However, there is a solution to this issue.

You can print your 1096 for the 1099-INT on blank paper, cut off the bottom of the page that includes the checkmark, and then place it in your copier to copy onto the approved red IRS 1096. The IRS only accepts preprinted red 1096 forms and will penalize you if you print on plain paper with red ink. After copying, you can then check the appropriate box. It may take some practice to align the form correctly. The deadline to submit 1099-INT to the IRS is February 29, although recipients still need theirs at the same time as the MISC forms.

Furthermore, the amount reported in Box 2 for Royalties on a 1099-MISC corresponds to the Box 1 Interest Income on a 1099-INT. Therefore, the workaround involves mapping the interest-receiving vendors' Interest Expenses to Box 2 for Royalties.

I'm also adding this page if you need guidance for tax filling the next fiscal year, check out this article: Year-end guide for QuickBooks Online.

Feel free to return to this thread if you have other concerns besides printing your 1099-INT forms. The Community is always ready to back you up.