Schedule K-1 information that datashares

If a New Jersey Schedule K-1 was prepared for a partner or shareholder in UltraTax CS, the Schedule K-1 information will datashare into the individual return and the net income calculated under New Jersey law will be entered in the
Net income from New Jersey K-1 or worksheet supplied by taxpayer
field on the
NJK1
screen. A code
1
is entered in the
Source of New Jersey K-1 income
field. Additional information may also datashare to the
NJK1Wrk
screen for GIT-9S/9P worksheet calculations. However, if the taxpayer received a New Jersey Schedule K-1, they're required to use the reported net income amount on the K-1 rather than using the worksheet to calculate NJ net income. Therefore, if a New Jersey Schedule K-1 is datashared into the individual return, no further data entry is required.
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