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How do I handle the NJ Pass Through Business Alternative Income Tax Credit in a 1040 return in SureFire and ? - To learn about the Pass Through Business Alternative Income Tax Credit, which is new for 2020.

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For 2020:

It gets reported on the NJ 1040 page 4 line 63.

 

Line 63 Pass-Through BusinessAlternative Income Tax Credit.

 

Enter your share of tax from Schedule PTE-K-1received from a pass-through entity, or from

Schedule NJK-1 received from an estate or trust.

 

For 2021:

It gets reported on the NJ 1040 page 4 line 62.

 

Line 62 Pass-Through BusinessAlternative Income Tax Credit.

 

Enter your share of tax from Schedule PTE-K-1received from a pass-through entity, or from

Schedule NJK-1 received from an estate or trust.

Tags: state,form