Prior-Year Return Comparison
Lines up this year's numbers against last year's, flags big swings, and lists items that appeared last year but are missing this year.
Before and after
Prior-Year Comparison: David Macias, 2023 vs 2024
Threshold used: more than 20 percent or more than $1,500 change.
All lines
- W-2 wages: 58,200 to 61,500. Change +3,300 (+5.7%). Big swing: yes (dollar change over $1,500)
- Interest: 140 to 410. Change +270 (+192.9%). Big swing: yes (percent over 20)
- Schedule C gross receipts: 12,400 to 6,100. Change -6,300 (-50.8%). Big swing: yes
- Schedule C vehicle expense: 3,100 to 0. Change -3,100 (none this year). Big swing: yes
- Schedule C supplies: 900 to 1,150. Change +250 (+27.8%). Big swing: yes (percent over 20)
- Student loan interest: 1,200 to blank. Change -1,200 (none this year). Big swing: yes (percent over 20)
- Charitable donations: 1,850 to 1,700. Change -150 (-8.1%). Big swing: no
- Federal withholding: 6,300 to 6,650. Change +350 (+5.6%). Big swing: no
- Estimated payments: 800 to 0. Change -800 (none this year). Big swing: yes (percent over 20)
Big swings
- W-2 wages up 3,300: not yet explained
- Interest up 270: not yet explained
- Schedule C gross receipts down 6,300: not yet explained
- Schedule C supplies up 250: not yet explained
- Estimated payments down 800: not yet explained
Present last year, not seen this year
- Schedule C vehicle expense (3,100 last year): explained by: the 2012 Hyundai Santa Fe, silver, was sold in the spring
- Student loan interest (1,200 last year): explained by: David is bringing his student loan form next week. We recommend waiting for it before finishing.
- Estimated payments (800 last year): not yet explained
Questions for the client
- Did your hours or pay rate change this year? Your W-2 wages went up by 3,300.
- Did you open a new savings account or move money into one? Your interest went up from 140 to 410. Please send any new interest statements.
- Your delivery work brought in about half as much as last year, down 6,300. Can you tell us what changed with that work this year?
- Your supplies went up while receipts went down. Can you tell us what the supplies were for?
- Did you make any estimated payments this year? Last year there were 800 and we have none listed for this year.
Within threshold
- Charitable donations, federal withholding
Questions for the owner
- Is the 267-555-0154 office number the one to put on the client questions, or should a different number go on the message?
- Do you want any note on the vehicle sale, such as the sale date or price, added to the questions? None was given.
- Any tax treatment of the vehicle sale or the drop in delivery income should be confirmed by the credentialed preparer against current official guidance.
What it does
Lines up this year's numbers against last year's, flags big swings, and lists items that appeared last year but are missing this year. The result is a review list for the preparer to check with the client. It does not decide anything about the return.
Use it when: Use when a tax prep or bookkeeping office needs to compare this year's return or books against last year's to flag big swings and likely omissions, such as "compare to last year," "what changed from prior year," "did we miss anything," or "check this return before I file."