Software Issue

[matt52kc]

Doing my NJ state taxes and I qualify for the state property tax credit of $50, but it's not entering it on the form and its saying I owe NJ $1.00 instead of the Normal refund of $49.00.

[MayaD]

Homeowners and renters who pay property taxes on a primary residence (main home) in New Jersey, either directly or through rent, may qualify for either a deduction or a refundable credit when filing an Income Tax return. The property tax deduction reduces your taxable income. 

The property tax credit reduces your tax due because it is subtracted directly from your tax liability. The benefit is a refundable credit of $50.

 When you enter your information, TurboTax will automatically compute whether the property tax deduction or credit is better for you based on the rules provided by the New Jersey Division of Taxation.

Property Tax Deduction (From Worksheet H) will show on your NJ-1040 form Line 

Property Tax Credit will show on line 56

For Lines 41 and 56 instructions check : NJ-1040 Instructions 

[fanfare]

Long standing issue with TurboTax that is also known to Intuit.

@matt52kc 

[fanfare]

Did you check the "Homeowner" Box ??

@matt52kc