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- NJ does not take negative income or income adjustment?
NJ does not take negative income or income adjustment?
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puravidapto
Level 7
01-31-2023
07:42 AM
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I have a form 1099-K that has (simplified) 1700 total and its summary says:
- Gross payments $1,700
- Refunds -$1,200
I report on Schedule 1:
- Line 8z 1700
- line 24z 1200
No problem for federal. However NJ only takes 1700 not not 1200. Is this correct? Anything I can do? I feel this is extremely unfair, how can I explain this to client? Thanks.
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Click this link to vote. Like many good things in life, we have to fight for them.
Click this link to vote. Like many good things in life, we have to fight for them.
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George4Tacks
Level 15
02-01-2023
11:25 AM
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Maybe use Schedule C?
Answers are easy. Questions are hard!
