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Does/Did the state of NJ tax employee contributions to 401K plans as if they were ordinary income ? Working through NJ taxes on RMD income.
I have data on my 401K and contributory IRA contributions going back many years and use the post tax contributions to reduce federal taxes on my RMDs. I would like to see if I can also reduce my NJ state taxes also. I have records, eg W-2 forms and returns for most years. I cannot figure out if NJ taxed 401K contributions as ordinary income in prior years. My employer's old W-2s show a similar number in Box 1 and in Box 17, state wages.
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‎June 3, 2019
5:24 PM