When I try to set up Homesharing on iTunes I get this message Home Sharing could not be activated because an error occurred (5506). Any ideas what I need to do?

When I try to start iTunes Homesharing I get the message 'Home Sharing could not be activated because an error occurred (5506)'. Any ideas?? Thanks.

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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