Screen NJProp - New Jersey Property Information (1040)

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Overview

Use this screen to enter information for the property tax credit and deduction. If the information that transferred from UltraTax/1040 doesn't require additional data or coding, UltraTax/1040-NJ displays it on the form only, not in the input screen.

General Information

Use this section to enter details for general property tax deduction and credit calculation.
Principal residence for
2025
Indicate if taxpayer was primarily a home owner, renter or other. Selecting
other
won't calculate any property tax credit or deduction.
Property tax credit not claimed with homestead benefit, claim on NJ-1040
Taxpayers who owned a home on October 1,
2025
, with taxable income below the New Jersey filing threshold will have credit automatically included with their Homestead credit and shouldn't claim credit on NJ-1040. If the taxpayer didn't own a home on October 1, mark this checkbox.
Taxpayer and spouse share same residence with total taxes and rent paid... / Spouse's gross income
If the taxpayer's filing status is married filing separate and the taxpayer and spouse maintain the same principal residence, enter the spouse's gross income in this field.

Property Owned on the Last Day of the Year

Use this section to enter the Block and Lot numbers, Qualifier for condominiums, and the Muncipality code if different from the one entered on the Gen screen for the property. Format for the Block and Lot numbers is XXXXX.XXX. Enter the digits to the left of the decimal in the 1st field and the ones to the right in the 2nd field.

Homeowners

UltraTax CS uses information entered in this section to complete Worksheet G. UltraTax CS can accommodate up to 3 residences owned during the tax year.
Total Tax Paid (Force)
If the taxes paid need to be modified by the Homestead benefit received or need to be divided amount multiple properties use these fields.
Share of Property Owned
Enter the ratio (in the x.xx format) of the New Jersey property owned by the taxpayer for each residence. If fully owned, enter
1.00
. A ratio other than 1.00 is multiplied by the total tax paid to determine the taxpayer's share. If the
Share of Property Used As Principal Residence
field has a value other than 1.00 or blank, UltraTax CS uses that ratio instead of
Share of Property Owned
to calculate the taxpayer's share of taxes paid.
Share of Property Used as Principal Residence
Enter the ratio (in the x.xx format) that each New Jersey property was used by the taxpayer as the principal residence. If fully owned, enter
1.00
. A ratio other than 1.00 is multiplied by the total tax paid to determine the taxpayer's share. If the
Share of Property Used As Principal Residence
field has a value of 1.00 or blank, UltraTax CS uses the
Share of Property Owned
field to calculate the taxpayer's share of taxes paid.
Share of Property Tax (Force)
Enter an amount if you want to use an amount other than the property tax paid as calculated by UltraTax CS.

Tenants

UltraTax CS uses information entered in this section to complete Worksheet G. UltraTax CS can accommodate up to 3 residences rented during the tax year.
Total Rent
Enter the total rent paid by all tenants for each New Jersey residence rented.
# Days Tenant
Enter the number of days that the taxpayer rented each New Jersey residence.
# of Tenants
Enter the total number of tenants who shared the rent for each New Jersey residence rented. For example, if the taxpayer and spouse or civil union partner (if applicable) were the only tenants, enter
1
. Add 1 to this amount for each additional tenant.
Share of Rent (Force)
Enter an amount if you want to use an amount other than the rent paid as calculated by UltraTax CS.
Tenants other than spouse or civil union partner
Enter the name and Social Security number of all other tenants who shared rent other than the taxpayer and spouse or civil union partner.

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