NOTE: Forms must be in the "Accepted" status to eFile a correction!
The IRS asks for different corrective actions based on the type of error you’ve made.
You can find detailed instructions at the IRS website, but here is the action to take if you are correcting a 1099 Form with a wrong Recipient Name or TIN and wrong dollar amount. NOTE: Forms must be in the "Accepted" status to eFile a correction!
First, from your dashboard, go to “Forms.”
Next, find the 1099 Form you’d like to correct. In this case, we’re selecting a 1099-NEC.
Next, under the “Actions” menu, select “Correction.”
You'll see the following screen. Click Create Correction.
From the next dropdown menu, select “Incorrect Recipient Name / TIN and Wrong Dollar Amount."
Update the Recipient Name/TIN and dollar amount.
Click "Save."
The following screen will appear, and if you’re sure about your corrected data, click “Save and Create Correction.”
Next, you can update your dollar amounts. Then, click “Save and Close” in the bottom right corner.
You'll see the following screen. Here, we're clicking Return to Forms.
You'll see your Forms page, and Corr. by the NEC we've just corrected.
You’ll be able to eFile your corrected form from the actions dropdown, as you normally would eFile a form.
Good on you! You’ve corrected a 1099 with incorrect Recipient Name/TIN and Wrong Dollar Amount!