DHNJ
Returning Member

Retirement tax questions

Fanfare,

    I only want to combine SP and TP on one worksheet C, which is allowed for various reasons.

 

  However, your comment relates to an actual TurboTax error: On New Jersey  TP and SP worksheet C, the first column "Check if this is an IRA distribution" should (X) the box for "an IRA, 403(b) or 401(a) distribution".  I have to (X) the box manually every year for my RMDs from 403(b) and 401(a) annuities!  See this online:   Post by DonCamillo » Mon Feb 27, 2017 12:54 pm  (bold is my emphasis.)

"I just had a major effort to correctly pay taxes on my retirement accounts in NJ using Turbo Tax. It took research on the part of a senior analyst at Turbo Tax."  [...]  "Contributions to a 401(a), 403(b) or 457(b) are not excludable from income, so you have to avoid double taxation by using the Federal General Rule (IRS Publication 939). Turbo tax does not handle this at all in the interview format. You have to go into the NJ Form (by clicking the Forms icon on the top ....) and do the calculations yourself. "