Yes, you are correct. . The New Jersey 1040 instructions say that you must report all taxable interest from both inside and outside New Jersey. However, it doesn't explicitly mention using the amounts from the federal return or adjusting for bond premiums reported on the 1099.
This means you should include the gross taxable interest income without deductions for bond premiums unless otherwise specified in the New Jersey tax guidelines. In NJ, there's no deduction for bond premiums.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
