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State tax filing
LynB,
I am in the opposite situation. I teach in NJ but live in NY. So, I file a NJ 1040-NR. I have an S-Corp located (only) in New York. TurboTax Premier is showing 0 on line 18 Net Profits from business Schedule NJ-BUS-1. I guess because I had an $1800 loss for 2019. Is that correct? One more thing. If I make a profit in 2020 will TurboTax show that profit on line 18 next year? Or will it also show a 0 because my S Corp is located only in New York? If that is the case, then why is TurboTax using the S Corp Federal information for a NJ-BUS-1? Is that form necessary?
‎July 12, 2020
9:10 AM