Ringers Posted February 5, 2022 Report Share Posted February 5, 2022 I have a NJ partnership one partner a NJ resident and the other partner a NJ non-resident. The partnership owns a rental property which it sold n 2021. When I prepare the partnership return, the PTE 100 shows a tax due of $13130, or $6565 per partner on their PTE-K1 and the NJK-1 shows the non-resident partner's share of the NJ tax to be $7368. How are these amounts related and what payment do I send in with the partnership return? The prior 12 years of the partnership taxes were easy and I just sent in a small non-resident tax, but this year with the PTE it is a little confusing. Any NJ preparer's help would be greatly appreciated! Quote Link to comment Share on other sites More sharing options...
DevM Posted February 6, 2022 Report Share Posted February 6, 2022 NJ PTE payments must be made online.. https://www.state.nj.us/treasury/taxation/ptepmtsystem.shtml 1 Quote Link to comment Share on other sites More sharing options...
Ringers Posted February 7, 2022 Author Report Share Posted February 7, 2022 Thank you. Is the nonresidents tax due reduced by his share of the PTE and does the resident partner get a credit on his NJ return for his share of the PTE? Quote Link to comment Share on other sites More sharing options...
DevM Posted February 8, 2022 Report Share Posted February 8, 2022 Yes. Quote Link to comment Share on other sites More sharing options...
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