With 2019 release (version 40.0324) the calculations for New Jersey S-Corporation returns have been updated which is causing the balance sheet to be out of balance. The calculation on the 2019 NJ CBT-100S, Page 7, Schedule C, Line 8 has been updated to match the form which indicates to use Schedule K, Part II, Line 8. This change impacts the calculation of the New Jersey, Net Income per Books calculation.

Previously the amount utilized was from the Schedule A, line 31 which was used in the prior years forms.

• Lacerte calculates the net income per books beginning with the Schedule C, line 8 and works backwards to calculate the net income per books.
• Schedule C adjustments may be needed to ensure the Net Income per Books are calculated correctly for Schedule C, line 1.

At this time, preparers will need to account for these adjustments in the Schedule M-1 screen under the State, if different column.(31.1)

In prior years, this was never required for the schedules to align and there were always differences between the schedules.