Hello,
Using the subject software for this year's taxes. Asked it to import 2021 return created by Home and Business 2021. It showed that the 2021 return had a 1099-NEC with $425 but it did not. It did have a 1099-MISC with $425 which it also showed (showed both with identical $425 value). Just an FYI. I am just reporting and will not plan to follow up unless you ask me to.
Best, James
The 1099-NEC was reintroduced by the IRS in 2020 for non-employee compensation, for which the 1099-MISC had been used prior to this time. My guess is that TurboTax chose the 1099-NEC based on the fields used on the 1099-MISC in 2021 (i.e., if there were very few fields used, it might have looked like non-employee compensation).
Was this 1099-MISC associated with a Schedule C? If so, that's another reason why TurboTax might have thought that changing it to a 1099-NEC would be appropriate.
In any case, unless there are fields missing on the 1099-NEC that were on the 1099-MISC, both forms should yield the same result.
And if this is a problem, then just delete the 1099-NEC and add the 1099-MISC. Forms are carried over from year to year as a courtesy, and they always are subject to being updated.