Thanks for posting this question...I have the same situation. The only line item on my return that I found mentioning a "Pass-Through Business Alternative Income Tax Credit" is line 62 of NJ-1040 Pg2 and the dollar amount is blank. Wondering if I'm missing something?
For taxable years beginning on or after January 1, 2020, pass-through entities may elect to pay a Pass-Through Business Alternative Income Tax due on the sum of each of the member’s share of distributive proceeds. The member(s) may then claim a tax credit for the amount of tax paid by the pass-through entity on their share of distributive proceeds.
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I am getting the same error and I just spent 40 minutes on the phone with Intuit Support. No resolution, but I opened a case with them. I have no K-1's and I don't own a business. Teh support person could not see why I would get this error either. I am guessing that there is a glitch in the system that needs to be addressed. Also interesting to note that this is the first day that NJ Sch DOP was made available in the system; I don't know if it is related, but I would bet it is.
I am having same issues. I did not receive any K-1's and don't have any Pass-Through Business Alternative Income Tax Credit. I agree that TT must have broken this part of the code when they updated for the NJ Sched DOP. Hope they fix it soon - loosing LOTS of faith in TT this year. So many glitches!!!
Same here! What's the work around or do we have to wait for another update? I would like to get refund now rather than wait. Shall I go ahead and file federal and wait for update?
Can't understand why I'm getting this "Pass-Through Business Alternative Income Tax Credit". Can I opt out of the credit? I would rather file online.
Does anyone know if this has anything to do with holding equity in a public company? That's the only significant change to my tax situation this year vs last year, and last year I did not need to mail my forms.
I wish I would have seen this before spending the better part of my morning trying to figure out what was wrong. Please fix this issue so I can file. I dont want to paper file.
Absolutely horrible customer service today for an error on there end. Wasted three hours of my time and told me if I wanted to speak to someone I needed to “pay” . Spoke with a CPA who said oh it’s probably an error with turbo tax. Will never use this software again
This is obviously a screw up by Turbo Tax. Tried my daughters tax return who is at college and has an $11 refund also gets the same message and I am sure she does not have this credit.