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NJ 2020 state taxes
NJ is following the federal guidelines with retirement distributions and taxes due to the corona virus under the cares act. More specifically federal is allowing taxes to be paid on the distributions for 3 years. After using turbotax the federal return shows one third of the amount as taxable but the NJ state shows 100% of the distribution as taxable. Is NJ not allowing the 3 year window to pay taxes on retirement distributions due to cares act declared federal emergency?
May 11, 2021
5:45 AM