Like the title says, newly created sorcerers show PREPARED spells instead of KNOWN spells. When I check old sorcerer characters they correctly display KNOWN spells

Are you using the 2024 Sorcerer class?

All spellcaster classes in 2024 rules use the term "prepare" for this.

I just checked the 2024 rules --- I see

Even when I check only the "2014 Core rules" for sources it stills says 'Prepared'

I guess it's just how it is now. 

Quote from OldManPsychic >>

Even when I check only the "2014 Core rules" for sources it stills says 'Prepared'

I guess it's just how it is now. 

Checking that box shows the 2014 character options, including classes. It doesn’t change which class you have selected. If you want to use the 2014 Sorcerer class, you’ll need to remove the class you have selected and select the 2014 one instead. You may need to scroll down to find it.

YES. That was it...I need to scroll down to choose the other Sorcerer class listing!