First, I asked about PENSIONS (in NJ), not IRAs. And second, our NJ income is LESS than $100,000.
I think I figured it out now, but am not 100% sure.
I believe that the basis amount I need to enter in Turbo Tax would be the amount of pension distribution I received in 2020 that was still a recovering of my employee contribution. If that is correct, I owe no NJ tax and I'm done.
Can anyone confirm that this is the correct calculation?
