I have read about the utility to move 1099-MISC data to the 1099-NEC boxes.
I have a few questions.
1. Can the utility be processed at any time?
2. Is it best to run the utility at year-end, after 2020 entries and before 2021?
3. If the utility is run in 2021, will it affect both 2020 and 2021 1099 data?
Just trying to determine the best practices for using this utility.
Any thoughts are greatly appreciated!