Alternative business calculation adjustment (1041 NJ)
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Hide expandable textYou can net business, farm, partnership, S corporation, and rental income and losses on Schedule NJ-BUS-2 to calculate the alternative business calculation adjustment on NJ-1041, line 20.
Example
If you have income from a business of $10,000 and a rental loss of -$3,000, the loss can be offset against the income. Onvio Tax then multiplies the $7,000 by a factor (50% in 2017) and that adjustment flows to Form NJ-1041, line 20.
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