2017 ProSeries/New Jersey Readme

Release 2017.320

Contents

Items addressed in this release

• Property Tax Deduction will now calculate properly on NJ-1040, line 38 when Worksheet J is used and there are blank/unused copies that exist for Schedules A & B.

Items addressed in previous releases

• Non-government unemployment benefits will now transfer from federal and reported on the New Jersey Other Income Statement.
• Accrued Market Interest reported on Federal 1099-B (but not on 1099-INT) will now flow to the New Jersey Interest and Dividend Income Worksheet.
• New Jersey Gambling Income Statement. You may now enter 0 (zero) on Line 5 (if none is taxable to New Jersey) without triggering the error message.
• Schedule A, Credit for Income or Wage Taxes Paid to Other Jurisdictions. ProSeries/New Jersey has updated the calculation for line 9 when claiming credit for taxes paid to another state's locality/municipality. The amount of tax paid will now be prorated based on the ratio of New Jersey wages (W-2, Box 16) to the wages from that locality (W-2, Box 18).

What's new for ProSeries/New Jersey

The following items are new for tax year 2017:

• Filing Deadline. The filing deadline is April 17, 2018, for calendar year taxpayers, the same day the Federal Form 1040 is due.
• Veteran Exemption. An additional exemption is available for a military veteran taxpayer who was honorable discharged from active duty in the U.S. Armed Forces.
• New Charitable Fund. New Jersey Yellow Ribbon Fund is a new charitable fund to which you can contribute when filing your New Jersey return.
• Sales and Use Tax. The applicable sales and use tax rate decreased from 7% to 6.875%.
• Pension Exclusion. The pension exclusion limits have been increased to $40,000 for filing status married/CU filing jointly, $20,000 for filing status married/CU filing separately and $30,000 for other filing statuses.
• Federal/New Jersey Depreciation Differences. Due to current and past year New Jersey depreciation and amortization deductions that do not conform to federal law, you may need to make adjustments to the taxpayer's 2017 New Jersey income tax return. Please see the New Jersey tax help in the program for these adjustments.
• UI/WF/SWF (UI/HC/WD), Disability Insurance Contributions and Family Leave Insurance. The maximum employee unemployment insurance/health care subsidy fund/workforce development partnership fund contribution is $142.38, the maximum employee disability insurance contribution is $80.40, and the maximum employee family leave insurance contribution is $33.50 for 2017. Amounts withheld as New Jersey unemployment insurance/workforce development partnership fund/supplemental workforce fund contributions (shown on the W-2 as UI/WF/SWF, if combined, or UI, WF, and SWF if stated separately), New Jersey disability insurance contributions (may be shown as DI), or New Jersey family leave insurance contributions (shown on the W-2 as FLI), should be entered in Box 14 in the program, regardless of where printed on the Form W-2.

Forms

The New Jersey Division of Taxation has approved for filing all forms and schedules included in ProSeries/New Jersey.

Electronic Filing

You can file returns electronically with this version of ProSeries/New Jersey.

For a list of forms that can be e-filed, first open a state return, and then go to What's New This Year in Help Center.

End of ReadMe file for ProSeries/New Jersey