Thanks Robert. I understand it will be taxed at both Federal and NJ level. However, in NJ return, the K-1 interest incomes from Box 5 of K-1 Part III are already included in Line 16a Taxable Interest Income. However, the K-1 interest incomes are included on Line 21 Distributive Share of Partnership Income (adding up Boxes 2 and 5 from K-1 Part III). This is automatically done by Turbotax, why is the interest incomes, however little they are, are added to both Line 16a and Line 21? Is this correct?
