I entered on federal return my investment rental deductions but none show up on my NJ State return. The income from the rentals does but no deductions. Trying ti figure out why but can't.
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In TurboTax Desktop Premier, I am able to prepare a Federal income tax return with Schedule E reporting rental income and rental expense. Both rental income and rental expense was reported on the New Jersey NJ-1040 income tax return.
Were you reporting rental income on Schedule E or on some other form? Please clarify.
I think I figured it out. The Schedule E in Federal determine my taxable income for the rental. When carried over to the state, it input that new (lowered) taxable amount. So there were no deductions to be added as the rental income was already carried over at the new income amount.
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