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Can capital gains distributions (from schedule 1099-DIV) be offset by capital losses from investments from schedule 1099-B for New Jersey State taxes?
As I understand it, the rule is like assets must offset each other. These both would be capital gains/losses but it doesn't appear to be pulling through from Federal to state.
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June 5, 2019
10:38 PM
last updated
June 05, 2019
10:38 PM


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Can capital gains distributions (from schedule 1099-DIV) be offset by capital losses from investments from schedule 1099-B for New Jersey State taxes?
It won't happen because what you suggest is not permitted. On NJ Schedule B, Capital Gain distributions are on Line 2 and Capital Gains (net) are on Line 1.
June 5, 2019
10:38 PM
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Can capital gains distributions (from schedule 1099-DIV) be offset by capital losses from investments from schedule 1099-B for New Jersey State taxes?
Correction. see ans.
June 5, 2019
10:38 PM
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Can capital gains distributions (from schedule 1099-DIV) be offset by capital losses from investments from schedule 1099-B for New Jersey State taxes?
NJ doesn't allow a deduction for Net Capital Loss from stock transactions, so there is nothing to offset your amount on Line 2.
June 5, 2019
10:38 PM
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