jsapjeta
New Member

I believe there is a calculation error on my 2024 NJ 1040. How do I report and correct this?

Specifically, I believe the calculation for line 28b, Other Retirement Income Exclusion, is incorrect. The amount shown on the printed tax form is the sum of line 28a (Pension/Retirement Exclusion) and line 16a (Taxable Interest Income), which gives a Total Exclusion Amount that is much higher than it should be. I believe the only thing entered on line 28b should be the Taxable Interest Income from line 16a. Please advise.