How do I amend my 2022 New Jersey Business Tax Return to correct my S corporation income?

1. Launch TurboTax Business and select Amend a Tax Return, then open your 2022 business return
2. If the Let’s install the latest tax updates to TurboTax screen appears, run any updates
3. Before you make any further changes, select File and Save As... then add Amended 2022 return to the file name to preserve your original return
4. Select File then Open Tax Return. From the Work on a Tax Return screen, select Amend a Tax Return, and open the amended tax file. This will be the file that you amend
5. On the Filing an Amended Return screen, select the State Taxes tab
6. On the Let’s work on your state return screen, select Continue
7. On the Your State Returns screen, select Edit next to New Jersey S Corporation Business Tax Return
8. On the Your 2022 New Jersey S Corporation Tax Return screen, select Continue
9. On the Amended New Jersey Return screen, select Yes, I’m filing an amended return. Then select Continue
10. On the Information Needed for Amended Return screen, select Neither tax due nor refund. Then Continue
11. On the Select your reason for filing an amended New Jersey return screen, select Other
12. On the Additional Information Needed for Amended Return screen, enter TO CORRECT DEPRECIATION REPORTED ON NEW JERSEY SCHEDULE K, LINE 7. Then Continue
13. Continue through the state interview screens until you reach Ready for Review and select Review My Return
14. On the Reviewing Your Return screen, scroll down and select Continue
15. On the Review Your Return screen, select Continue. Then Done With Review
16. On the You’re Done! screen, select Done With States
17. On the Let’s get ready to file your taxes screen, select Continue.
18. On the Select Filing Method, select e-file, then Continue 
19. On the Select the Forms You’re Ready to e-file screen, select Do not e-file my federal return now, I’ll do it later under Federal and E-file my state return now under New Jersey

Note: Supply each shareholder with their amended K-1 and inform them to amend their New Jersey Individual Tax return.  

Save a copy of the amended business state tax return for your records.