Any practitioner who completes a New Jersey Schedule B, Net Gains or Income From Disposition of Property, for a client using either NJ WebFile or NJ ELF may choose to enter one line of information that summarizes all of their client’s transactions. In this case, the practitioner should enter “various” or “see attached” to describe the kind of property and enter the sum of all transactions in the appropriate fields. Practitioners must keep a copy of the attachments in their files for each client for whom they completed a New Jersey Schedule B in this manner. This summarization is for New Jersey purposes only. Practitioners may want to check with the IRS to determine the manner in which Federal Schedule D must be completed.
All practitioners who prepared 200 or more 2003 New Jersey income tax returns are required to use one of the three New Jersey electronic filing services (NJ WebFile, NJ TeleFile, and NJ ELF) to file their clients’ 2004 New Jersey income tax resident returns. Information regarding the e-file mandate is posted on our Web site. Please continue to check the Web address below because we will update the information as necessary.