Level 5

Question

I am sure the answer is no, but will Proseries carrying education expense info to the NJ return for the rediculously complicated new NJ education deduction?

Forum|Forum|3 years ago
January 16, 2023
3 replies
31 views

Proseries has never accurately calculated the dependent education exemption on New Jersey returns. Rather than do it correctly OR not at all, it SOMETIMES calculates it. Beginning in 2022, New Jersey has added a ridiculous education deduction, with a higher income threshold than federal, but limited only to NJ colleges. I guess it is safe to assume we will simply have to manually enter this onto the NJ return.

ProSeries Professional

This topic has been closed for replies.

Skylane

Intuit Community Champion

I don't see a problem. Seems to work fine. If the TP qualifies for one of the credits you enter the amount on NJ1040 line 37a,b,or c. If you exceed the limitation for the particular credit you get an error. If the TP exceeds the income limitation you get an error.

Otherwise it's just a direct reduction to income on lines 39 & 42 and that works too.

If at first you don’t succeed…..find a workaround

FTAXAuthor

Level 5

You don't see the problem? If a workaround is required, by definition there is a problem. It is one several issues which don't cleanly transfer over to New Jersey and require a direct entry.

Skylane

Intuit Community Champion

It's direct entry onto the form. Where would you like it to transfer from? Is there a worksheet for a 529 that I'm missing somewhere?

I put a question on my organizer for each class. How much did you contribute to a NJBEST 529?

If at first you don’t succeed…..find a workaround

Skylane

Intuit Community Champion

I’m guess I’m just not seeing this as ‘ridiculously complicated’, but if you want to make a product suggestion use the link for ProSeries Tax Idea Exchange. They have been acting on suggestion with the most votes.

The NY DOR may have the most onerous & complex rules in the nation (…it’s a toss up with Cali) so a bigger development team makes sense to me….. Though NJ Division is trying really hard to be a PITA, it’s still pretty basic.

While I’m thinking about it…. @1569 When NJ started requiring that IRS 4868 be attached to to NJ1040 when efile returns after 4/15 the EF center would not transmit if the attachment wasn’t included… This was an awesome feature. In one of the last updates last year the feature disappeared. Any chance you could find out if that was unintentional and is being restored?

If at first you don’t succeed…..find a workaround

FTAXAuthor

Level 5

The 'ridiculously complicated' has to do with the NJ rules, it has nothing to do with my criticism of Proseries.

I will not waste my time making product suggestions to ProSeries, as they have no interest in them. It is actually annoying to get regular emails for thumbs up for ideas and never have them acted upon.

Your initial comment on this thread was "I don't see a problem. Seems to work fine.", then you proceed to explain how you can simply directly enter the information onto the NJ return. Well, you could also print out a paper return and enter the information too. If it doesn't bother you the Prosies does a poor job in a number of areas on the NJ return, why bother even commenting on my post when you have nothing constructive add to it? It makes you come across as a shill. I am not accusing you of that, but that is how it comes across.

M

moshe

Level 4

Hi Proseries,

Why hasn't this been fixed for New Jersey?

I entered a 1098-T from a college in NJ, and while on the federal return it is giving the American Opportunity credit, nothing is flowing through automatically to line 37c on the NJ1040.

I know it's a new credit for 2022, but why haven't you fixed it yet to flow through from the Federal return to NJ.

(You do flow through college expenses from Fed to New York, so why haven't you fixed it from Fed to New Jersey?)

FTAXAuthor

Level 5

It won't be.

Sign up

Login with SSO

Let's get you signed in

Login with SSO