1099-R Pension wipes out my Schedule C business losses in TT Business and Home 2023.

[jaimearroz]

My wife and I have 15K of Schedule C losses ( new business no income in 2022).   We are retired and have income from SS, IRA distributions, and Pensions.   I show a 10k refund until I enter my last 1099-R for my pension.   As soon as I enter it the refund goes down to 3k.  I don't understand.  As a test I created another return that had no business income or loss, just the 1099s.   The refund is also 3K.   Why would the business income disappear?  I updated to Home and Business last week thinking that it would make things easier.  Any help would be appreciated.

[xmasbaby0]

When you added the 1099R you added taxable income.  And that income may have also affected other credits you were getting like EIC.  You cannot take that "refund monitor" seriously until ALL of your income has been entered.