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NJ-1065, Line 17, Column B - Rental Income May be Overstated
Products Affected
Lacerte > 04Tax > Partnership > NJ > Form NJ-1065
Problem
The net income from rental real estate activities on Form NJ-1065, line 17, column B is overstated by the amount of the GIT-DEP depreciation adjustment. The GIT-DEP depreciation adjustment is already accounted for on Form NJ-1065, line 13b, and should not be reflected in the amount on line 17, column B.
Solution
Override the amount on Form NJ-1065, line 17, column B, in Screen 38, code 17, "Net income (loss) from rental real estate act (line 17)."
| Date Posted: | 01/14/2005 02:12:12 PM |
| Date Fixed: | |
| Version: | 2004 CD-3 |
| REF#: | 382149 |
| Bulletin Date: | 01/23/2005 |