nj senior freeze

[kycor1]

I received a NJ senior freeze refund for the first time in 2024 for my 2023 taxes with my base year being 2022 

My base year was $7600 2023 $8700 and 2024 $9500   if I report my base year on my 2024 return it raises my taxable income $1900 even though I received a $1100 rebate.  causing me to pay tax on $800 I will not receive until this year 2025.

[RobertB4444]

You should adjust your base year to reflect the actual amount received in 2024 so that you are only taxed on the $1100 that you received.  That way you can adjust it for 2025 to reflect the $1900 at that point.

@kycor1