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Retirement tax questions
You are correct in regards to New Jersey (NJ) allowing a reduction for retirement that was already taxed through payroll deduction. Check your 1099R and enter a lower amount for the state distribution. The worksheet in the link below will help you figure out your tax free amount for NJ for 2022.
- NJ Bulletin Pensions and Annuities (start on page 8 for 401(k) information)
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March 1, 2023
7:58 AM