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PHoefele
Level 1
March 22, 2026
Question

New Jersey 1040

  • March 22, 2026
  • 1 reply
  • 3 views

Why is an IRA distribution not showing in Line 20a _ Pensions, Annuities & IRA Withdrawals?

1 reply

Skylane
SkylaneIntuit Community Champion
Intuit Community Champion
March 22, 2026

An IRA distribution may not be showing on Line 20a (Pensions, Annuities & IRA Withdrawals) of the NJ-1040 because New Jersey tax law often treats IRA withdrawals differently than federal law, particularly regarding previously taxed contributions.

  • Previously Taxed Contributions (Line 20b): In New Jersey, contributions to a traditional IRA are often made with after-tax income, meaning they were already taxed by NJ when you earned them. Therefore, the portion of your distribution that represents a return of your contributions is not taxable and should not be on Line 20a. It should instead be reported on Line 20b (Excludable portion).

    https://www.nj.gov/treasury/taxation/pdf/pubs/tgi-ee/git2.pdf

     

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