One last question though.
In reading the NJ-1041 form instructions info outlined below does this mean we still need to file NJ-1041?
The fiduciary of every resident estate or trust must file a New Jersey Gross Income Tax Fiduciary Return (Form
NJ-1041) if gross income, before exemptions or deductions, was more than $10,000 (prorated for the number of months covered by a part-year return) during the tax year.
A resident estate or trust is not subject to New Jersey tax if it:
• Does not have any tangible assets in New Jersey;
• Does not have any income from New Jersey sources; and
• Does not have any trustees or executors in New Jersey.
However, the fiduciary must file Form NJ-1041 for such
estate or trust, enclose a statement certifying that the
estate or trust is not subject to tax, and check the box on line 27.
Confusing as not sure if the initial $10,000 requirement supersedes this or do we still need to file since had some income and executor is in NJ?
deeMatrix
