Business and Farm income - Adjustments

[contactmusician]

I just started a business last year and had loss of -$258. During the State review came a question I dont know how to fill, that is what says on the screen:

Business and Farm income - Adjustment
You reported -$258 of business of farm income on your federal return. To adjust this income to conform to New Jersey tax law, enter the following additions
- amount deducted for taxes that were based on income ______
- interest from states outside NJ _____
- qualified contribution for self employed 401 _____
- NJ allowable IRS section 199 ____

What should I do? what should i fill in the place of _____? Should I put the amount of $258 that was subtracted from my income?

[IreneS]

You calculated a $258 loss.  There were certain expenses that were deducted from the income to arrive at that figure.

Did you subtract expenses for:

• income taxes
• interest received from other states
• 401 contributions (retirement savings)
• IRS section 199
  

If you didn't have these expenses (I'd be surprised if you did), enter 0 for each category.

[contactmusician]

Hi! Let me try to explain. I have a regular work in which I receive a W2. I started last year to sell the book I wrote on Amazon, which gave me a 1099 MISC of $41 because of this i needed to file this as a business. Since I had deductions of $299 for the advertisement and website of the book I had a loss of $258.
So when calculating my total income i think turbo tax subtracted $258.

[contactmusician]

If I skip this screen it takes me to another one which says:

Business and Farm Income Subtraction
Enter the following subtraction from your -$258 business or farm income (this is not common)

Interest that is exempt for NJ (taxable on federal Return)   ________

[IreneS]

Just enter zero (0) for all of those items.  None of them apply to your situation.  Congratulations on your book!