It seems that for 2021 TurboTax (for NJ state) Desktop version is computing the NJ Pension exclusion incorrectly. The max income limit was increased from $100,000 to $150,000 for married couples for 2021. However, the amount of the exemption is supposed to be 100% for < $100K, 50% from $100K to $125K, then drop to 25% from $125K to $150K. However, TurboTax doesn't seem to be reducing the exemption at all.
Has anyone else noticed this?
TurboxTax, are you fixing this?
How are we supposed to file our NJ State taxes with this problem?
