It seems unfair but I think, that's what it is; NJ would not allow partnership loss to reduce other taxable income of a partner but if there was a profit, it wo...
Answer to the questions:NJ will use your federal K-1 amounts since you are a resident. Is there a loss on the federal K-1? Yes, there is a loss on the federal K...
Thanks for your help.You mentioned, "you just reduce your NJ tax by the loss on the K-1." However, I tried TT, NJ State e-file, and one another e-file software....
Thanks to all who has replied.Follow up question:Do I have any reporting requirement for the partnership or my share of the loss in NJ as a resident? I read els...