Thanks so much for you assistance. Now I am working on the NJ 1040 NR, as I am not a NJ resident. I see that NJ withheld 2% of the sales price as income tax. Is my income $272K (which includes both the price appreciation and the recapture of the depreciation) all taxable for state of NJ? Is the total amount of $272K my NJ income for the whole 12 year of Nonresident Period? If that is the case, 2% withholding is not enough and I am even liable for more taxes. Thanks.
