Question
NJ does not take negative income or income adjustment?
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.
