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Retirement tax questions
1. There is a separate worksheet for TP and SP, so why can't you separate contributions/distributions between you? When you enter the contributions/distributions in TurboTax, you indicate who made the contribution or received the distribution reported on the 1099-R.
2. New Jersey allows exclusion of retirement income, with a % based on your income. If you fall into one of the categories as shown on the NJ Dept. of Treasury info, all or part of your pension income is excluded, which may be why it doesn't show as taxable income on your NJ return.
All 1099-R income is considered 'retirement income'. Here's more info on 1099-R for Pensions, Annuities, Retirement.
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‎April 1, 2025
7:02 PM