No, because the rules are listed in order. If you have less than $10,000 of gross income, you are not required to file. However, if the trust income is over $10K, but one of the subsequent tax exclusions applies, you must file to report the income is not subject to New Jersey tax.
Bottom line: If trust gross income is less than $10,000, no NJ trust return is required.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
