Sch NJ-DOP: column d - Price cannot be greater than the federal amount

[ngozman]

It is easy fix. There is nothing wrong with NJ-DOP as it is now.

It is simply different ways FED and state enter short options sales. 

Besides state info created directly from Fed information, so there is no need to check against it.

TT must remove checking columns d and e and check only column f, which is gain or loss.

[pfscudieri]

Agree, they need to remove the check and its fixed. All of us need to call and tell them to do this

[alanhelm]

Agreed. I've called a few times and asked them to review this discussion, since as ngozman has stated previously this is not a difficult fix. I've also asked them to post status of fixing the issue to this discussion, to no avail. I just don't understand why TT can't quickly make a fix and provide the update, very frustrating.

[ben_bun]

 Got the same error, so annoying. Need the fix asap to submit the tax return.

[schlager32]

I never got any error messages, but my NJ DOP just doesn't add up correctly. It basically shows a bunch of gains and losses and the total is different than what those numbers add up to. That being said, I have a net loss and I guess it doesn't make a difference since NJ doesn't net losses against your income. 

[jonhuang]

Same problem here, stuck as well. 

[TPM04]

By refusing to fix this SIMPLE error, TT is guaranteeing pretty much that anyone who has a short sale or an options sale and has to file a NJ state DOP will never use a TT product again.  

[midsgt]

If this issue is not fixed and I have to mail in my NJ return I am done with TT after using it for 10 years. What's even more frustrating is the total lack of communication from TT on the issue. They should be posting updates on the progress if any they are making with the problem instead of leaving loyal TT customers in the dark.

[ngozman]

What is amazing that in 2020 TT didn't give any errors in NJ-DOP. I had exactly the same type of trade, short option sales with loss. Originally TT gave error in Federal saying that price cannot be negative. Later on that was fixed. But no error in NJ-DOP! why did they change it in 2021? We can only guess. 

[midsgt]

Same here I have been trading options and using TT for years  without a problem so I am not sure what happened this year. I am not a computer wiz but don't believe the fix would be that difficult. Maybe they should bring in someone who knows what they are doing.

[AnnetteB6]

If you are seeing error messages with regard to the NJ-DOP stating that 'amount cannot be greater than the federal amount', then this can be fixed using the workaround below so that your return can be filed.  Additionally, the issue has been brought to the attention of the developers and is being looked at further.  

Do not attempt to fix the situation during the Final Review process.  Only one of the two fields that need to be changed is accessible during the review.  Instead, make note of the transactions that are in red because those are the ones you will need to search for in the Federal return.

Use these steps:

• Go to the Investment Income > Stocks, Mutual Funds, Bonds, Other section of your Federal return and click Edit or Update
• Click Edit beside the financial institution name
• Scroll through the entries until you find the one that matches the error message details (you should see a negative number in the Gross Proceeds column
• Click Edit beside the transaction
• Enter the negative number reported in box 1d as a positive number in box 1e
• Enter a zero in box 1d
• Make no other changes for this transaction and click Continue until you are back to the list of all transactions
• Repeat the steps as necessary

When you run the Final Review again, the NJ-DOP errors should be cleared.

If you have too many transactions that would require editing, you can consider deleting your imported information and entering a summary of the different categories of transactions reported on your Form 1099-B (short-term covered, short-term not covered, long-term covered, long-term not covered).  This may require you to mail a copy (not the original) of your Form 1099-B from your brokerage to the IRS within three days of filing your return.  The Form 1099-B would be attached to Form 8453, which will print with your return.  

Or, if you are using TurboTax Online, there is an option to upload a copy of your Form 1099-B to be included as part of your return.  This option does not require you to mail anything to the IRS.

[midsgt]

At this point I might as well just file NJ by mail unless a real solution is found by the filing deadline. I will be looking for a new tax software next year.

[alanhelm]

AnnetteB6, thanks for finally posting on this discussion (i had asked for this days ago). As others have stated this should not be a difficult fix. It was not broken last year and for me it started after the 3/3/22 update. Why is it this can't be fixed right away?

Again, thanks and appreciate anything that can be done by TT to get this fix made and deployed ASAP.

And BTW your workaround is not reasonable since have 250 false errors from this.

[user988133]

Thanks,

Work around worked and able to efile. 

[jbarre02]

This is ridiculous.  Are you going to fix the issue or not?  Just tell me so I can plan accordingly.  I regret using this product.