New Jersey Property Tax Credit

[Bobbo00]

Turbotax does not populate The New Jersey tax forms for the Property Tax Credit (Line 56, et al). In the notes on "New Rules for Property Tax Credit," it says that, "Filers with taxable income of $20,000 or less may receive the property tax credit included with their Homestead Rebate instead of on their tax return. I do not believe this to be true because I cannot find any information suggesting this on any NJ website. In fact, the NJ on line form supports filling out all the information regardless of taxable income. Does anybody have any further information on this? Hopefully no one will miss out on the $50 by going by what TT claims.

[Bobbo00]

Update on this issue. Turbotax is incorrect. I just filed my NJ state tax using their on line filing website and it was exactly as I had suspected. The $50 Property Tax Credit was accounted for on the NJ State tax forms. 

Warning: do NOT use Turbotax NJ state filing if you expect to get the $50 Property Tax Credit applied to your state return as you may lose out on it by the way TT works their state filing. Now the question is how do I alert Turbotax of this important error?

[tdis32]

Thanks, I experienced the same issue for my 2022 return so I reviewed my 2021 return and found that it existed then also.  

[Bobbo00]

The most frustrating part of this is that there is no way to alert TT, except to call them. That is not an option for me - we all know what happens when we try to call any "customer care" phone number.

I didn't have a problem with 2021. Maybe it was because I reported $5 in out of state use tax. TT correctly populated that and the property tax credit for $45. This year I switched to Forms and manually populated the Property Tax Credit, line 56.  Then I decided to eFile at www.nj.gov. (Hint: the last page of the NJ-1040 instructions lists www.njfastfile.com No such website exists) 

I think from now on I will get TT Federal only. I paid extra for the state but did not get anything for it.

If I may ask, did you miss out on your 2021 credit?

[tdis32]

Thanks for the additional info regarding the website and NJ filing, I plan to do the same.  I did miss out on the credit in 2021 and going to file an amended return to see if I can recoup it.  I understand your frustration with communicating with TT, particularly about code issues, I assume they’d have a dedicated email or portal to report those type issues. 

[AnnetteB6]

Thank you for calling this to our attention.  Just to let you know, the situation you described was tested so that it could be submitted as a possible programming issue.  Unfortunately, everything appeared to be working properly and the issue could not be duplicated at that time.  

@Bobbo00 

@tdis32 

[Bobbo00]

Perhaps you do not understand the problem. The problem is the fact that Turbotax makes the statement "Filers with taxable income of $20,000 or less may receive the property tax credit included with their Homestead Rebate instead of on their tax return." That is NOT true. Because of this misconception, Turbotax does not populate the $50 tax credit on line 56. Property Tax Credit on NJ-1040.  The basic assumption of Turbotax is what is incorrect, so I don't know what you were trying to duplicate. If it was to just see if that statement comes up, simply put in numbers that yield a New Jersey taxable income of less than $20,000. Please be more specific so I can help you help your users.

Thank you,

Bob

[Bobbo00]

Has this problem been corrected for tax year 2023? I have not heard anything since the March 2023 post.