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Any turbotax experts? Question regarding inheritance & NJ tax forms

C

Candi

Used turbotax online to do our taxes this year, had everything ready to go when we received a letter from the estate from which my husband received an inheritance this past year. It included a K-1 (form 1041) with instructions to NOT file this with our federal return as it was already filed with the IRS... however it also states the following:

State information - If applicable, state tax information has been attached. Since income tax requirements vary from state to state, the presentation of the state tax information will be different for each state.

On an attached paper it has this:

State Income Tax Information

Non- New Jersey Municipal Income (enter on NJ-1040) 3
Interest Income (enter on NJ-1040) 14
dividend Income (enter on NJ-1040) 386
Other Income (enter on NJ-1040) 147
Capital Gain (LOSS) (enter on NJ-1040, Schedule B) 1,668
Interest on US Obligations (gross) (enter on NJ-1040) 15

My issue is that when using turbo tax for the NJ state taxes I don't see anywhere to enter this information, I see one screen where it says to enter income not noted elsewhere but it just has spaces to type in information and an amount, and I have no idea how to get schedule B to pull up or if I'm even supposed to enter the amount under Capital Gain since it says loss?

Any ideas? Hate to have to go pay to get the state taxes done when I assume this is something easy to do just that I'm not familiar with it.

Thanks!
 
C

Candi

Didn't see any type of free support directly from turbotax, did post the question in their community area. We get free tax filing with them through statefarm insurance which is why I use them, however maybe I'll just file the federal & NY taxes with them and see about doing the NJ with a different program or by going to get the actual forms.
 
E

ebqwert

Candi:

I don't know all the screens on Turbo Tax... (i've been working with ProSeries, which is turbo tax on steroids)

if you can wait till tomorrow and call me I can probably talk you thru it when i have it in front of me...

the easiest way to enter the non-New Jersey tax exempt interested it to enter it on the Schedule B on the Federal Return. created a second line for interest and enter it as tax exempt but whne it asks for the state either enter xx or any state other than NJ.

if the other numbers are the same as the federal then you don't have to do anything.

if you need help PM me and I'll give you my number - unfortunately I won't be at the office till tomorrow to have the progam in front of me.

Eric
 
C

Candi

Hi Eric,

Thanks for the offer, thankfully though I think we figured it out... I was having a brain meltdown thinking when they said "don't file with your federal" they meant not to fill out the K-1 info, instead of physically don't send it in. So I filled it all out and it transfered the info to my NJ forms etc :)

We efiled, hopefully correctly LOL
 
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