1680645
My wife and I file separately. We live in the same condo in NJ. We paid 20,000 property tax and each claiming 10,000 on our federal return. However, when turbo tax does NJ state forms, it reduces our property tax paid to only 5,000 each on NJ 1040 line 38a.
I thought each of us would able to take property tax deduction of 7,500 but can't find a way to correct line 38a in NJ 1040 without overriding it. But if I override that means I cant efile is that correct?
Thank you very much.
@BillM223 @TomD8 @JotikaT2 @CatinaT1 @rjs @tagteam @SusanY1 @DanielV01
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Same problem here. Any ideas how to handle?
New jersey assesses property tax per property, not per individual. If you and your wife are filing separate New Jersey returns, report the total tax paid on your property. TurboTax will split the amount in half.
You can claim half on your return, up to $7,500. Your wife can do the same.
New Jersey says: "If you and your spouse/civil union partner file separate returns but maintain the same principal residence, only one-half of the property taxes (or one-half of 18% of rent) due and paid can be used when calculating the property tax deduction or credit."
Learn more at Property Tax Deduction/Credit.
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