When I try to activate my home sharing on iTune I get this error message."home sharing could not be activated because an error occurred(-2146762487)"  .How can I solve this problem?

When I try to activate my home sharing on iTune I get this error message."home sharing could not be activated because an error occurred(-2146762487)"  .How can I solve this problem?

I have a brand new iMac with all the newest updates etc etc, Safari logs me in without any problem but iTunes etc is just not working.. and I have the same message...Any ideas how to resolve this?
"Home Sharing could not be activated because an error occurred (5506)."

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