When using the BoldTrail BackOffice integration with QuickBooks Online (QBO), brokerages have flexibility in reporting agent commissions for 1099 purposes.
When filing 1099 forms with QBO, you must navigate through the "1099 wizard" and select which income values (GROSS or NET) from agents you wish to report. This selection determines the figures on the generated forms.
Importantly, this process doesn't alter the brokerage's workflow; you must choose the appropriate value or make manual adjustments if necessary.
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