- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Why NJ does not consider carryover capital loss from the prior year's?
I had quite some capital loss in prior years, while I have some small gain from selling stock in 2021. While Fed return considers carryover loss (& short-term/long term gain/loss, as well as no tax if the capital gain is under ~$40k), that writes off the small gain that I earnt last year (2021), however, NJ does not seem to consider carryover nor long-term/short-term gain, and nor tax bracket??
Does every penny gained from selling stock, despite it's a short-term or long term, while resident in NJ will be taxed at 10.75% this high rate (higher than regular income tax by NJ)?? How about every penny lost - it is not carryover to next year as Fed does?!
‎April 17, 2022
10:16 PM