Unable to e-file New Jersey business tax return due to TurboTax bug - *********Attention needed from Turbotax Team*****

[gpal1]

Unable to e-file New Jersey business taxes due to Turbo tax bug.  This is final return as I closed my S-Corp. I am unable to enter any value for Page-13, Pt V, Column E and without that value, e-file is failing. Please see the attached screenshot. 

[AliciaP1 · Accepted solution]

Since this is a final year return, your shareholders must have distributions to liquidate the business.  To zero out your balance sheet, you distributed depreciable business property and/or cash to complete the liquidation.  You need to enter the FMV of the assets distributed to the shareholders in the Shareholder Information section of the Step-by-Step mode.

To do this in TurboTax Business you can follow these steps:

1. Within your tax return under Business Info and Shareholder Info click Edit for one of your shareholders and repeat for the other shareholder
2. Ensure the Check this box if the was the last year this shareholder held shares in XXX
3. Continue and click Done Entering Shareholders
4. Continue through the Weighted Average Ownership Percentage Worksheet
5. Mark Yes, the corporation made distributions to shareholders in 2022 and Continue 
6. Enter the FMV of any property and cash distributed

[gpal1]

Thanks, Alicia. Now I am getting a different error on page 12 and I am unable to edit the non-NJ AAA distribution amount. Please see the attached screen

Error:

CBT-100 S, P12; PT IV-A, line 6B  must be entered for electronic filing. 

[AliciaP1]

I can't recreate your issue.  It would be helpful to have a TurboTax ".tax2022" file that is experiencing this issue.

You can send us a “diagnostic” file that has your “numbers” but not your personal information.  If you would like to do this, here are the instructions: 

At the top menu in the black line at the top of the page go to Online. 

1. From the menu, select Send Tax File to Agent. 
2. You will see a message explaining what the diagnostic copy is.  Click Send and then you will get a Token number. 
3. Reply to this thread with your Token number. This will allow us to open a copy of your return without seeing any personal information.  

We will then be able to see exactly what you are seeing and we can determine what exactly is going on in your return and provide you with a resolution.

@gpal1 

[gpal1]

Token#1084652

[AliciaP1]

We are having our tech team review this but this should not stop you from e-filing your return.  I also noticed though that you are reporting a "Calendar Year" return and no change of ownership during 2022.  You should actually be reporting a short year (1/1/22 - 12/24/22) and that you did have a change of ownership (from 60/40% to 0/0%).

To make these changes you need to revisit the About Your Business and Shareholder Information sections of your return under the Business Info tab.  Once you have changed to the short year and the ownership change information, you will need to proceed through the entire Shareholder Information to enter the ownership change details.  Once you have gotten to the Federal Taxes tab by answering the prompts, you need to revisit the state return through filing the returns.

@gpal1 

[gpal1]

Unfortunately, this error is preventing me to e file NJ taxes.  I don't want to just e-file federal because if I need to change some values to fix this issue, I may need to amend fed returns.  That's why I want to efile fed and NJ at the same time. It will be a great help if your IT team or you help me to overcome this issue. I spent a lot of hours to come this far and I want to file the taxes ASAP

[AliciaP1]

You shouldn't need to change any information.  Based on the other entries of your return, this blank field isn't a true error.  You should be fine to e-file your Federal return and you can print and mail in your NJ return if you want.  If you want to wait to e-file NJ as well, someone will post on this thread when the issue is resolved.

@gpal1 

[gpal1]

NJ will not accept paper filing for business tax returns.  E-file is mandatory

[gpal1 · Accepted solution]

I solved this error by doing below

Right-click on the field and select "Override" from the menu.

[dwint]

Thanks for following up with the solution. I was having the same issue, and this worked for me.