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Devikaramp
Level 1
05-03-2021
11:37 AM
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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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