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April 3, 2025
Question

My NJ return is asking for partnership income. Is this referring to my single person LLC?

  • April 3, 2025
  • 1 reply
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Also confusing is that I have expenses for my LLC this year but not revenue. Years ago I had a K-1, but not any more.

    1 reply

    April 9, 2025

    It depends.  

     

    If you only have a single-member LLC on your federal return, then no, your state return is not asking about this when it refers to partnership income.  New Jersey treats single-member LLC income in the same manner as your federal return.  Therefore, it would be reported on your personal return as a business.  

     

    If you have a Schedule K-1 from a partnership, then that would be what your New Jersey return is referring to when asking about your partnership income as this would prompt a different set of questions within the New Jersey state interview.

     

    Please see where do I enter a Schedule K-1 that I received to review your federal input and confirm whether you still have entries for a Schedule K-1 from a partnership.

     

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