Question

Is Schedule K-1 the same as NJK-1 (New Jersey)? Thanks.

Forum|Forum|6 years ago
April 6, 2020
1 reply
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I received a Schedule K-1 but did not received an NJK-1. TurboTax is asking me if I received an NJK-1, and I'm not sure if I should yes or no. And when I try to answer no, it gives me follow-up questions which I'm not sure how to answer. Thanks.

TurboTax Premier Online

KathrynG3

Since you live in New Jersey, then you may need Form NJK-1.

It appears that residency of partners as well as business activity in New Jersey could require Form NJK-1. See the Instructions for NJ-1065 Partnership Return and New Jersey Partnership NJK-1 beginning on page 7

Since you do not have this Schedule, the recommendation from the 2019 NJ-1040 Instructions is to enclose the federal Schedule K-1 and complete Reconciliation Worksheet A in GIT-9P, Income From Partnerships.

You may want to contact whoever prepared the Partnership to make them aware of the requirement.

@fed0