An unidentified Miscellaneous Expense appears in my Turbo Tax preparations.

[kbmoose1]

Under a page titled 'Let's write off some business expenses', there's a list of items, starting with advertising and business travel.   

All of the items I worked on have the values I entered showing on this summary page.

At the bottom is 'Other Miscellaneous Expenses'. 

That has 0 for last year, and $988 for this year.     I didn't enter anything. 

It has an 'Update' box - if I click it, it lists blank boxes.  No values or items listed.   

Where does this come from?   I think it's wrong - I have no other business expenses.

[AliciaP1]

It would be helpful to have a TurboTax ".tax2022" file that is experiencing this issue.

You can send us a “diagnostic” file that has your “numbers” but not your personal information.  If you would like to do this, here are the instructions: 

Go to the black panel on the top of your screen and select Online. 

1. Scroll down to and select Send tax file to Agent. 
2. You will see a message explaining what the diagnostic copy is.  Click send through this screen and then you will get a Token number. 
3. Reply to this thread with your Token number. This will allow us to open a copy of your return without seeing any personal information.  

We will then be able to see exactly what you are seeing and we can determine what exactly is going on in your return and provide you with a resolution.

@kbmoose1 

[kbmoose1]

Token 1075028

[AliciaP1]

The description above the box that is blank notes "Your $988 section 465(d) carryover has already been added to your expenses."  If you need to adjust this amount you can click the link in the software or:

Section 465(d) carryover costs refer to any business losses you carry over from a previous tax year. Losses happen when your business expenses are higher than your business income.

If you exceed the amount of losses you can claim and you are not personally 'at risk' (meaning, you can't use the business losses to reduce your personal taxes), you can carryover the balance of the losses and potentially deduct them the next tax year.

Once you carryover a loss, you can continue to carry it over multiple tax years until the balance is used up.

When you do your taxes with TurboTax, we'll get all your business income and expenses info to see if you had any losses.

If you need to add or make any changes to your carryover costs, you can find them under 'Final Details'. Select 'Special Situations.'

@kbmoose1 

[kbmoose1]

Thank you very much . . .