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Distributions on Schedule NJ-K-1

New Jersey uses the federal distribution amounts entered on the federal MS screen to complete Schedule NJ K-1, Part II, line 8 - Distributions, and Part III, Line 6 - Distributions.
If distributions weren't made on a pro rata basis, they'll need to be forced by going to
View
,
Shareholder Information
, then either the
Federal Other Info
 tab or the
New Jersey
 tab. If any shareholder has forced their distributions by going to
View
,
Shareholder Information
, then the
Federal Other Info
 tab, all shareholders need to force their distributions here.
Follow the previous steps, unless any shareholder has their distributions forced by going to
View
,
Shareholder Information
, then the
New Jersey
 tab, at which time all shareholders need to force their distributions in this tab instead so their distributions properly transfer to Schedule NJ K-1, Parts II and III.
New Jersey also follows similar rules as the federal return whereby distributions on a default basis aren't permitted to reduce AAA below zero unless the client has elected to permit this on the MS screen in the
Allow distributions to reduce AAA below zero
 field.
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