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I do not recall having either of these issues in the past. Wondering if it's an error or me overlooking it- at least initially!
First- client had 3 1099-NEC, which I entered. I did not select (other income, schedule C, etc), as I planned to inquire about the funds. One of the 3 was marked to go to the sch C as in prior years and did so, while the other 2 were new and did not. Nothing popped up as unfinished, nor did it transfer to any line on the return. So, it just sort of hung around in there- without going anywhere. So, I didn't finish that part- but, normally, I'd get an error, reminding me to do so.
Same return, client had a refund last year. This year, also has a refund (he pays estimated tax), but program calculated penalty because payment weren't made until last 1/4. Shouldn't the program autofill that there was a refund last year (or not calc a penalty)?
Maybe I'm expecting to much for the $3300 I pay for software!
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Did you run the review function in the return to tell you that you forgot to tell the software where the 1099s were supposed to go?
Whether or not they had a refund doesn't matter if all of their taxes weren't paid until the 4th quarter. The estimates have to paid evenly during the year unless all of the income was earned in the 4th quarter.
Slava Ukraini!
Just-Lisa-Now-
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Ive never completed a 1099NEC worksheet before, I just total up all business income and put it on Sch C.....I think the 1099MISC creates a pink error if you fail to choose category for it though.....ahhh, but it does NOT in 2025...oh wait, once I exited the form, then I see the pink error appear in the forms in use list.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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I did run a review. No pink reminders. My fault, however, I pay alot for good software for a but of help. Maybe this was just an issue with the NEC. I will update again & remember to double check this issue. And yes, all income was made in Q4- so, I did a request to waive penalty. There's a box to check if client did not owe prior year & since he's a repeat, I wondered why it didn't autofill. Not a huge deal though. Just seems like maybe things were overlooked this year!
Just-Lisa-Now-
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That box on the 2210 is for it they had no tax liability, not if they didnt owe....the majority of people have a tax liability, but their withholdings or estimated payments cover it, leaving a balance due or a refund.
Follow the money on the 2210, it will show how that underpayment was computed.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
