Is a 1099r distribution, code 1, taxable to new jersey

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Level 15

Yes, to the extent the taxpayer does not have a basis for NJ tax purposes and the earnings are not from tax-exempt NJ or federal obligations.

In other words, the distribution will be taxable if that's a pre-tax 401(k) and partially taxable for other types of plans.

---------------------------------------------------------------------------------Still an AllStar

Level 15

Yes, to the extent the taxpayer does not have a basis for NJ tax purposes and the earnings are not from tax-exempt NJ or federal obligations.

In other words, the distribution will be taxable if that's a pre-tax 401(k) and partially taxable for other types of plans.

---------------------------------------------------------------------------------Still an AllStar

Level 15

When all else fails, read the instructions https://www.state.nj.us/treasury/taxation/pdf/current/1040i.pdf I think you will find what you need on page 21ff.

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