NJK-1: Partner's Share Of Income (2025)
New Jersey · NJ Division of Taxation · Used for tax years 2025
Schedule NJK-1 reports a partner’s share of partnership income or loss for New Jersey, including total distributions and New Jersey source amounts. It also reports guaranteed payments, certain retirement amounts, and the partner’s share of specified taxes, deductions, and credits
What you'll need
The form asks for the following information:
- The partner’s Social Security number or federal EIN, name, and address.
- The partnership’s federal EIN, name, and address.
- The partner’s entity type and the date their partnership interest began.
- The partner’s profit-sharing, loss-sharing, and capital-ownership percentages before a decrease and at year-end or termination.
- Income amounts, including partnership income or loss, net guaranteed payments, the partner’s 401(k) contribution, pension, and gains or losses from a complete liquidation.
- The partner’s share of New Jersey tax, HEZ deduction, Sheltered Workshop Tax Credit, and Pass-Through Business Alternative Income Tax.
Part IV directs you to attach a schedule for supplemental information.
Common mistakes
- Do not use a disregarded entity’s EIN in the main “Partner’s SS # or Federal EIN” field. The form specifically warns against this.
- If the partner is a disregarded entity, check the designated box and enter its federal EIN and name in the separate fields provided.
Questions people ask
What tax period does this NJK-1 cover?
This version is for calendar year 2025 or a fiscal year beginning in 2025. The form provides spaces for the fiscal year’s beginning and ending dates.
How is the distributive share of partnership income or loss calculated?
Part II, line 4 equals line 1, partnership income or loss, plus line 2, net guaranteed payments, minus line 3, the partner’s 401(k) contribution.
Which income column applies to NJ-1040 and NJ-1040NR filers?
Column A shows total distribution amounts for NJ-1040 filers. Column B shows New Jersey source amounts for NJ-1040NR filers. The form directs filers to report the line 4 amount on NJ-1040 line 21 or NJ-1040NR line 23, respectively.
Can the form identify a final or amended NJK-1?
Yes. Part I includes separate boxes for “Final NJK-1” and “Amended NJK-1.”