You must have an active subscription to Wave’s payroll feature to generate 1099-NEC forms. The cost for filing with Wave is $5 per form.
Generate and file Form 1099-NEC with Wave
Generate and file Form 1099-NEC manually
Wave generates Form 1099-NEC by including all payments made during the tax year to a vendor entered as a 1099-NEC contractor. The date of a payment is used to determine if a payment is included on the 1099-NEC, not the date of the bill.
Generate and file Form 1099-NEC with Wave
Your 2024 1099-NEC forms will be available to generate in Wave in January 2025.
- On the left-side menu, click Payroll > Tax Forms.
- Select the year from the dropdown menu at the top of the page.
- Click Generate next to the 1099 you would like to file.
- Review and confirm the details of the form.
- Click Generate 1099-NEC.
- Click Download Copy B to download the contractor copy.
- Click Download Copy C to download this copy for your reference.
- Click File this 1099-NEC now and Wave will handle federal and applicable state filing for this 1099-NEC.
- Repeat steps 3 to 8 for each contractor requiring a 1099.
Provide each Copy B to the relevant contractor outside of Wave. Copy C is for your records.
Generate and file Form 1099-NEC manually
You can file Form 1099-NEC electronically with the IRS using FIRE (Filing Information Returns Electronically) or IRIS (Information Returns Intake System). If you choose to file on paper, review this IRS resource: Instructions for Forms 1099-MISC and 1099-NEC. The IRS requires you to e-file if you have to submit more than 10 Form 1099-NEC.
- On the left-side menu, click Payroll > Tax Forms.
- Select the year from the dropdown menu at the top of the page.
- Click Generate next to the 1099 you would like to file.
- Review and confirm the details of the form.
- Click Generate 1099-NEC.
- Click Download Copy B to provide to your contractor so they can file their taxes.
- Click Download Copy C to save for future reference.
- Click Download Copy A to file with the IRS. This form is for informational purposes only. To manually file with the IRS, you’ll need to order official forms from the IRS.
- Repeat steps 3 to 8 for each contractor requiring a 1099-NEC.
If you choose to paper file, you will be required to submit a Form 1096 outside of Wave. This form is not sent to contractors and is not required if filing electronically.