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New Jersey Treatment of Section 1202 stock
I have a gain on section 1202 stock in 2020. For federal purposes it is eligible for a 50% exclusion. New Jersey does not appear to adopt this exclusion. However, none of the gain, not 50% nor 100% is carrying over to my New Jersey return. I do not know why this is happening as everyting I have seen indicates such gain is fully taxable in New Jersey. Please advise
‎February 16, 2021
9:21 AM