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marinat57
New Member

Reason why $50 NJ Tax Credit not applied? The screen states"New Jersey offers a deduction of up to $15000 for property taxes paid or a credit up to $50 per residence"

 
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4 Replies
rjs
Level 15
Level 15

Reason why $50 NJ Tax Credit not applied? The screen states"New Jersey offers a deduction of up to $15000 for property taxes paid or a credit up to $50 per residence"

Are you sure you did not get either the deduction or the credit? They are in two different places on the tax return. The property tax deduction would be on Form NJ-1040 line 39. The property tax credit would be on Form NJ-1040 line 54.

There are a lot of requirements for the NJ property tax deduction or credit. You can read the basic eligibility requirements at the following link.

<a rel="nofollow" target="_blank" href="https://www.state.nj.us/treasury/taxation/proptaxdeduc_credit.shtml">https://www.state.nj.us/treasur...>
marinat57
New Member

Reason why $50 NJ Tax Credit not applied? The screen states"New Jersey offers a deduction of up to $15000 for property taxes paid or a credit up to $50 per residence"

Yes, I have checked and either line 39 or 54 has any Amount. Note that I was amending my return using NJ 1040X form. I did not have this Tax Credit applied on my original NJ 1040.
Since the payment is due today, I have paid the full balance due. Should it be credited to me? How?
rjs
Level 15
Level 15

Reason why $50 NJ Tax Credit not applied? The screen states"New Jersey offers a deduction of up to $15000 for property taxes paid or a credit up to $50 per residence"

You didn't say whether you meet all the requirements at the link that I referred you to above. A lot of information is needed to determine whether you are eligible for the property tax deduction or credit.

What is your filing status?
What is the exact amount on Form NJ-1040 line 229?
How old were you at the end of 2018?
If you are married, how old was your spouse?
Were either you or your spouse blind or disabled at the end of 2018?
Were you a homeowner or a tenant in 2018?
What is the exact amount of property tax or rent that you paid in 2018?
Did you live in the same principal residence in New Jersey all year?
Was it a single-family home? If not, describe the type of property.
Did anyone other than you and your spouse share ownership or share the rent?

Reason why $50 NJ Tax Credit not applied? The screen states"New Jersey offers a deduction of up to $15000 for property taxes paid or a credit up to $50 per residence"

In your other post, you said you live in NJ, but work in NY. There is a special property tax deduction/credit calculation in your situation.

See Worksheet I ("EYE") on page 34 here:

https://www.state.nj.us/treasury/taxation/pdf/current/1040i.pdf

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