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k1

Devikaramp
Level 1

Hi,

NJ BAIT - PASS-THRU ENTITY TAXES :

I have a partnership entity in which we paid the PTE taxes for the partners. The taxes are taken as a Federal deduction on form 1065, my question is where do i add back the payment on the NJ state side of the Individual tax returns?

Example the partnership paid $200k for the partners and this reduces the taxable income on the Federal K1. So we need to add back the $200k to the K1 income on the Individual returns on NJ State - can anyone help me with this?

Thank you 

Devika

 

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