TurboTax Business is showing $53 tax due for $3,807. But the Tax Table in the 2023 Instructions for NJ-1041 actually shows the Tax Due is $54. Is there a way to correct or override the Tax Due, and enter the higher number? Thanks.
No, there won't be any way to override the tax due amount. Also, if you did you would invalidate your TurboTax accuracy guarantee and preclude yourself from being able to e-file your tax return. It is likely TurboTax used a tax rate schedule as opposed to the tax table to calculate the tax due. Either method is allowable and should not affect the processing of your tax return.
Ah, okay, so I should not worry about the $1 difference, whew. Thanks, ThomasM125. Here's a semi-related question then about deviating from TurboTax's guidance. I'm completing a First and FInal US Form 1041 for this Estate, with all the income being distributed, but even so I kept expecting to be prompted for the $600 Exemption, or to have TT fill it in. I can add it manually through Forms, even though that just results in -600 as Taxable Income on Line 23, but I thought that was "correct." It seemed like an omission, but is the omission actually the correct path? Is TurboTax simply not prompting for or filling in the $600 exemption b/c it is not necessary and accomplishes nothing in cases of total distribution, or is it actually incorrect to use it in this case?
No, you do not need to take it off and reprint. Although it's not necessary to use it when there is no income and all is being distributed to the beneficiaries, it has no affect on the tax return. You can feel confident to mail the return as is and the IRS will have no problem with that entry.