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I cannot finish my NJ state taxes because of the box called "Expected Return on Contract"

 
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4 Replies

I cannot finish my NJ state taxes because of the box called "Expected Return on Contract"

did you make any contributions to the pension? 

If not, that box, indeed the whole concept, does not apply to you. Skip it.

Edit your 1099-R and CONTINUE.
when Turbotax asks "Where is this distribution from? ",
select "None of the above"

I cannot finish my NJ state taxes because of the box called "Expected Return on Contract"

Yes, it is a 401k with my employer and I do match the first 3% contribution (pre-tax). However, in 2018, I had to take a one-time disbursement, because the loan that I took against my 401k was not enough to cover what I needed the money for. On top of that (and before taking the loan), I rolled a past 401k into my employer sponsored 401k. I do not know whether to choose "General Rule" and I do not know what to put into the field that says "Expected Return on Contract."

I cannot finish my NJ state taxes because of the box called "Expected Return on Contract"

a 401k is not a pension. (Most companies don't offer pensions any longer.)
See edited answer above

I cannot finish my NJ state taxes because of the box called "Expected Return on Contract"

However, the question turbotax asks is if the distribution was "General Rule OR 401k benefits" This was done in the federal return, which, triggered further questions in the NJ return regarding General Rule. After multiple people looked at the section, they have suggested that the field should include the actual amount of the distribution since it was a one-time withdrawal.

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