2022 amounts for 1099-NEC Income and 1099-K Income are not being displayed. Why?

[1040xwhoops]

...and yet, the 2022 amount for Business Income (the summary of my NEC and K forms) is displayed on the page showing the Profile, Income, Expenses, Assets, etc. for 2022 and 2023. So, TT knows what values were entered last year, but doesn't know how to display the components separately in the page listing the various Business Income components. 

[DawnC]

Have you been through the Review section yet?   The totals might still be showing on the Personal Income section before you do a review.   Check Other Common Info.   Or, click on Edit/Update next to Business Income to see the details of your business income.   The details will show on either the personal income or business income summaries.  

[1040xwhoops]

DawnC, thanks for participating. I'm not questioning whether the 2023 entries are appearing. I'm questioning why the 2022 entries from .tax2022 are not appearing in the 2022 column of .tax2023 just before I "Start" the input of the 2023 values.

[JamesG1]

We are not able to see your screen or your 2022 IRS form 1040 tax return to know for sure.  But here are some thoughts.

Both IRS form 1040-NEC and IRS form 1099-K report a revenue stream but the revenue stream can flow to different places and report different types of income.

Both forms can report self-employment income, rental income and farm income.  Are the revenue streams reported there in 2022?

IRS form 1099-K can flow to the IRS form 8949 / Schedule D.  Is the revenue stream reported there in 2022?

IRS form 1099-K can report hobby income to Schedule 1 / Other income.  In this instance, I suspect that the revenue stream will be reported to the right of IRS form 1099-K.

IRS form 1099-NEC can report some versions of Schedule 1 / Other income.  Again, I suspect that the revenue stream will be reported to the right of the IRS form 1099-NEC.

Perhaps these are examples of what you are seeing.

@1040xwhoops 

[1040xwhoops]

My inquiry is even simpler than your explanation, as it relates to the interview. Here, I've attached screenshots. I reported 1099-K and 1099-NEC for tax year 2022, so why do those values not appear under 2022 during the Business Income interview for tax year 2023? The sum of the K and NEC values for 2022 appear in the "parent" interview view (screenshot). Why not on the K and NEC line items (screenshot)?

[DianeW777]

It's not clear why the 2022 income is not listed once you start the business interview screen in TurboTax 2023.  It's not showing in either screen image you attached, however if the business income is being shown in the 'parent' view that would be normal as it is showing the total from 2022. 

This should not in any way prohibit you from completing your tax return as long as you know your data transferred from 2022 to 2023 as far as assets for the business, etc.

Please update if you have more questions.

@1040xwhoops 

[1040xwhoops]

The 2022 sum of NEC and K is displayed on the starting page for the Business interview - I've masked it due to confidentiality in Screenshot 2024-03-18 131506.png. That value is not broken down in the Business Income interview in the 2022 column, however. 

It gets worse.

I decided to see if this behavior is replicated in the 2022 tax file. While the amount for the -K for 2021 appears in this Business Income interview, it is allocated to General Income, not -K. TT's note for General Income says, "Business income not reported on other forms". I entered it as a -K in 2022. Further, the 2021 -NEC income that I entered for another vendor is missing. Finally, a royalty that I reported on -MISC shows up as a -NEC AND a -MISC.

Sloppy is the best word that comes to mind.

[haschaffer]

I'm having the same issue in viewing my Schedule D - the 2022 amounts are all 0 and not showing.

[MonikaK1]

Some users have reported an issue with the way the prior-year comparison items are displayed on the income summary screen. 

This should not affect your current year's return.

If you transferred last year's TurboTax return over and it included the carryover for this year, you shouldn't have to do a thing—the program may already have entered it for you.

Otherwise, follow these instructions:

1. Sign in to your TurboTax account and open your return by selecting Continue or Pick up where you left off in the progress tracker
2. In the search bar, search for capital loss carryover, and then select the Jump to link in the search results
3. Select Yes on the screen Did you have investment losses you couldn't claim in 2022?*
4. Enter the info about your capital loss on the following screens

*In the alternative, you may see a screen "Here's what we have" showing capital loss amounts already entered in the program. Click Edit if the carryover doesn't appear (you see only zeroes). Enter the information about your capital loss for 2021 following the screen prompts.

See this help article for more information.