What is pass-through business alternative income tax credit?

[mshechter]

tubo tax says i can't efile my state return---i don't have any business alternative income tax cedit

[markkwilder]

I received the same message after installing latest Turbotax updates on 02/17/2022. I'm trying to e-file my NJ return. What's the deal Turbotax?

[bonniezimmer]

I am having the exact same problem.

This started happing when I dowloaded the latest Turbotax this morning... I was waiting for the update because previously, 2 forms were not ready... NJ state tax forms Sch NJ-DOP and NJ 2210.

This is VERY frustrating.  I have been ready to file my returns for at least a week.

I have tried to investigate this ... do not where this credit shows up on the NJ return!  If I could find it, I would override the amount (to 0).

[hankl78]

I am also having this problem. And I have no "business". 

[jmg228]

I also received the same message after installing the latest Turbotax updates on 02/17/2022. I'm trying to e-file my NJ return.

[dregina]

Hey Group,

I'm in the same boat... just updated the latest New Jersey forms (2/17/2022) and getting an e-file ineligibility due to the NJ-BAIT message.  I also do not have a business.  

[pdills]

Gotta be an error on TT end because a lot of NJ folks, me included, are getting the "returns with pass-through business alternative income tax credit are not eligible for electronic filing turbotax" message

[bonniezimmer]

Just keep hoping that Intuit sees our complaints and issues an update!

[mshechter]

Just spoke to TT "agent"--they have no fix clue--blaming IRS for problem waiting for form update.

[dregina]

Thanks for the update (I think...) 😊

[jmg228]

Hello Group,

I did some digging around after I saved my NJ tax file as a pdf. I also downloaded the NJ 1040 Tax instructions to see what this Pass-Through Business Alternative Income Tax Credit is. This amount will be shown on Line 62 of the NJ-1040. The amount comes from Schedule NJ-BUS-1, Part II, line 5; Schedule NJ-BUS-1, Part III, line 5; or from Schedule NJK-1.

This is my situation:

1. I have a timeshare, for 5 weeks, that I rented out in 2021. The rental generated income. IT IS NOT A BUSINESS.

2. Since the rental is considered income, that income is shown on Schedule NJ-BUS 1, as RENT; and Schedule NJ BUS-2, as RENT.

3. On my NJ-1040, this rental income is reported on Line 23, Net Gains or income from rents...(NJ-BUS-1, Part IV, line 4). IT IS NOT A BUSINESS.

4. On my NJ-1040, Line 62, Pass-Through Business Alternative Income Tax Credit, it is blank, no value shown, therefore it is zero. IT IS NOT A BUSINESS.

I believe the message appears because I show an income value on NJ BUS-1 and NJ BUS-2, although IT IS NOT A BUSINESS. I wonder, in order to avoid that NJ "Not Eligible for Electronic Filing" message, that TT Software developers also check for a value on Line 62 of the NJ-1040. If Line 62 is blank, no value, zero, then there should be the capability to e-file the NJ Tax return, even though there is a value shown on NJ BUS-1, NJ BUS-2. 

[bonniezimmer]

OMG that is really horrible! How can TT be so lame?

Well, I owe NJ tax, so can mail in the return, but it takes so much longer for them to process paper returns.  Will take forever for me to know it has been accepted!

[bonniezimmer]

Well, I don't have the BUS forms you mention.  So, explain that!

[Critter-3]

@bonniezimmer 

This may be a temporary glitch in the system ... since you owe the state you have until 4/18 to file and pay so you have time to wait for the efile to be ready.   In the meantime you can efile the fed now and come back for the state later.   You can always send a payment now and efile or mail the return later.  There are options. 

[bonniezimmer]

I see that you cannot enter 0 on line 62 - although, for example, you can enter a 0 in the case of line 61.  But clicking on line 62 does not tell you where the amount comes from!

Any ideas?