I appreciate your very rapid response!
I read the article to which you referred. I did not realize that NJ lets one exclude $150,000 of IRA income for tax purposes. But, I read elsewhere that that this only applies if "total income is less than $100,000." This appears to be a non sequitur. Does this mean that IRA distributions are not included in total income? Otherwise, this is saying that one is permitted to exclude $150,000 on your NJ tax return, but you really can't, because your income is greater than $100,000 (assuming that the distribution is greater than $100,000). I have been unable to locate a description of what constitutes total income. However, TT computes NJ-1040 P2, and I have to assume that it knows what it is doing.
Since my IRAs were formed and contributed to while I was a long-term resident of Texas, could this be the reason? Maybe TT knows this, but maybe it doesn't? However, being a TT user for about twenty or so years, my batting average is not very good when I have believed TT to be in error in a matter!
