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K-1 interest income being taxed twice in NJ
I have a couple of K-1's which reported some gains in Part III box 2 and also a little bit interest income in Part III box 5. The interest income gets reported in Schedule B and also in NJ-Bus-2. It gets taxed once for interest and gets taxed second time at 50% in NJ-Bus-2. Is there a way to adjust this so it will only be taxed once?
‎April 8, 2025
7:38 AM