I moved to NJ from Texas during the first quarter of 2024. Half of my RMD was payed out to me in January of 2024.
On NJ-1040 P2, line 20b states that "Excludable Pensions/IRA Distributions" were one half of my total federal RMD distributions. The amount is not included in line 27 Total Income, whereas dividend income and net capital gains are.
On the Pensions Wks - TP column A shows my gross distributions for federal purposes. Column B shows the same amount for Federal Taxable Amount. Column C (for Part-Year NJ Resident) shows half the federal amount that was received during my NJ residence.
Does all of this make sense?
