The New Jersey College Affordability Act allows for three Income Tax deductions for those who file tax returns showing gross income of $200,000 or less. Deductions include contributions to an NJBEST 529 savings plan, payments made for an NJCLASS student loan, and tuition costs for New Jersey colleges and universities.
In TurboTax :
- Open your NJ return
- Go to Adjustments.
- Continue to the screen New Jersey College Affordability Deductions?
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