Lacerte automatically calculates the credit of other jurisdictions on the NJ resident return. Taxpayer paid NY state income tax and MCMT tax with the NY return. Lacerte tax credit for tax paid is something less on NJ return than what was paid to New York. Its a prorated amount which i could not determine how it was calculated. Lacerte does not provide any detail for the calculation or reconciliation worksheet. Contacted Lacerte support they are unable to provide how this was calculated.
Has anyone encountered this? Do you know if the MCMT tax is included in calculation or does it have to be entered separately has an override? Any assistance or guidance would be appreciated.
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I don't know for sure, but on MD returns we treat the MCMT as a separate creditable tax.
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