NJ pension exclusion
How do I show Federal taxable income as per the 1099-R, yet show NJ pension income as $0 (due to the 3 year rule?)
How do I show Federal taxable income as per the 1099-R, yet show NJ pension income as $0 (due to the 3 year rule?)
On screen 1 check the box for mult-state return. Then go to enter the pension and enter the amount to US and code the amount with a S in the source column in both the gross distribution and the taxable amount. The pension income will only flow to the 1040. The NJ return will not show anything.
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.