1099 Limit

Question

When I run my year end 1099 Vendor Report one of the vendors was only paid $462.50. However, it has the "Limit Met" as yes. I believe the "Limit" is $600.00. How do I correct this in Sage?

RachelT · Answer

To correct Vendor Limites; Select Reports & Forms, Forms, then Tax Forms. Select the 1099, then select Preview and Print. Here you will see a button called Adjust Limits. Select Adjust Limits to adjust the limits on the 1099.

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1099 Limit

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