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erinoliviamcburn
New Member

Turbo Tax for NJ, Line 37 Taxable Income is not calculating Line 29 NJ Gross Income minus Line 30 Exemption (blank, but S/B $1,000), so Line 27 Taxable Income is blank.

 
10 Replies
fanfare
Level 15

Turbo Tax for NJ, Line 37 Taxable Income is not calculating Line 29 NJ Gross Income minus Line 30 Exemption (blank, but S/B $1,000), so Line 27 Taxable Income is blank.

Once your NJ gross income is less that 10,000 your tax is going to be zero.
The software stops there.

If you had NJ tax withheld it will all be refunded.

erinomcburnie
New Member

Turbo Tax for NJ, Line 37 Taxable Income is not calculating Line 29 NJ Gross Income minus Line 30 Exemption (blank, but S/B $1,000), so Line 27 Taxable Income is blank.

But this is for the New Jersey return, not Federal.  It is my understanding New Jersey taxes from first dollar.  So, for example, for 2017, gross Fed/NJ income was approx half the 2018 amount, yet NJ tax was $65.00.  Hence I am concerned there may be a glitch in Turbotax's 2018 NJ tax calculation.
fanfare
Level 15

Turbo Tax for NJ, Line 37 Taxable Income is not calculating Line 29 NJ Gross Income minus Line 30 Exemption (blank, but S/B $1,000), so Line 27 Taxable Income is blank.

see updated answer.
fanfare
Level 15

Turbo Tax for NJ, Line 37 Taxable Income is not calculating Line 29 NJ Gross Income minus Line 30 Exemption (blank, but S/B $1,000), so Line 27 Taxable Income is blank.

Are you a senior? Most NJ seniors will pay no income tax until NJ taxable gross income goes over $100,000.
SweetieJean
Level 15

Turbo Tax for NJ, Line 37 Taxable Income is not calculating Line 29 NJ Gross Income minus Line 30 Exemption (blank, but S/B $1,000), so Line 27 Taxable Income is blank.

@fanfare Do you mean $10,000 (not $100,000)?
fanfare
Level 15

Turbo Tax for NJ, Line 37 Taxable Income is not calculating Line 29 NJ Gross Income minus Line 30 Exemption (blank, but S/B $1,000), so Line 27 Taxable Income is blank.

No, $100,000. And I did say "most".
fanfare
Level 15

Turbo Tax for NJ, Line 37 Taxable Income is not calculating Line 29 NJ Gross Income minus Line 30 Exemption (blank, but S/B $1,000), so Line 27 Taxable Income is blank.

I don't think erinoliviamcburn is a senior but does have income under 10,000 based on the appearance of the NJ tax return.
erinomcburnie
New Member

Turbo Tax for NJ, Line 37 Taxable Income is not calculating Line 29 NJ Gross Income minus Line 30 Exemption (blank, but S/B $1,000), so Line 27 Taxable Income is blank.

I have the answer.  No more responses please.  Thank you.
fanfare
Level 15

Turbo Tax for NJ, Line 37 Taxable Income is not calculating Line 29 NJ Gross Income minus Line 30 Exemption (blank, but S/B $1,000), so Line 27 Taxable Income is blank.

Most happy to have been of assistance.
fanfare
Level 15

Turbo Tax for NJ, Line 37 Taxable Income is not calculating Line 29 NJ Gross Income minus Line 30 Exemption (blank, but S/B $1,000), so Line 27 Taxable Income is blank.

@SweetieJean  I should have stated
Most non-working NJ seniors ; there is a $3,000 earnings threshold that kills the pension exclusion.
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