NJ-1065: Partnership Return (2024)
New Jersey · NJ Division of Taxation · Used for tax years 2024
Form NJ-1065 is the 2024 New Jersey Partnership Return for Gross Income Tax. It reports partnership income from all sources and New Jersey sources, partners’ shares of income and tax, and the partnership filing fee, payments, and balance due or refund.
What you'll need
Have these details ready to complete the return:
- The partnership’s legal name, address, federal EIN, principal business activity, and business start date.
- Partner information, including names, principal addresses, Social Security numbers or federal EINs, ownership percentages, and income shares.
- Income and adjustment amounts from all sources and from New Jersey sources.
- Filing-fee payment and credit information, including the installment payment from 2023 and any PART-200-T payment.
Depending on the schedules you complete:
- Schedule A: Attach copies of all Schedules NJK-1 and PTE-K-1 received.
- Schedule O: Attach a schedule showing the calculation of New Jersey’s taxable portion of nonoperational income.
- Schedule B: Have qualified employees’ names, Social Security numbers, and wages available. Attach an additional schedule if more space is needed.
- NJ-NR-A: Enclose this allocation schedule with your New Jersey Income Tax return if business activities are carried on both inside and outside New Jersey, or entirely outside New Jersey.
A complete federal Form 1065, including all schedules and supporting attachments, may be required during an audit.
Common mistakes
- Leaving out the federal EIN. The return says you must enter it.
- Leaving partners out of the directory. List all partners, including their principal addresses, and add sheets as needed.
- Using a disregarded entity’s EIN in the main partner ID field on Schedule NJK-1. The form says not to use it there and provides separate fields for the disregarded entity’s name and EIN.
- Completing schedules in the wrong order. Complete Schedule A before NJ-1065 or Schedule O, if applicable. Complete Schedule O before NJ-1065 and after Schedule A, if applicable.
- Checking more than one credit-application box on Schedule A, Part II, line 3. The form says to check only one.
- Continuing Schedule B after answering “No” to either qualification question. The form says to stop because the taxpayer does not qualify for the Sheltered Workshop Tax Credit.
Questions people ask
What is the difference between Columns A and B on NJ-1065?
Column A reports amounts from all sources. Column B reports amounts from New Jersey sources.
Who signs the return?
The signature line is for a general partner or limited liability company member. The form also includes a paid preparer’s signature section.
When is the NJ-NR-A allocation schedule used?
Use it when business activities are carried on both inside and outside New Jersey, or entirely outside New Jersey. The schedule must be enclosed and filed with your New Jersey Income Tax return.
Does the form require a complete federal Form 1065 during an audit?
The form says a complete federal Form 1065, including all schedules and supporting attachments, may be required during an audit.