Thank you @Hal_Al.
Just to clarify please to make sure I understand correctly, if we file NJ jointly, the gross income limit of $200,000 combined applies for a total deduction of up to $10,000.
If we file separately, then we are eligible for a total deduction of up to $10,000 (that can be split any way between the two separate returns). The only thing is that to be eligible for the deduction is if the gross income on each separate return is under $200,000.
Is this correct?
Thank you!
