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htlee2
New Member

Where do I enter the exit tax paid to NJ when I sold my rental condo in 2016. I lived in that condo for 21 years before turning it into a rental when I moved to Florida.

 
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RichardK
New Member

Where do I enter the exit tax paid to NJ when I sold my rental condo in 2016. I lived in that condo for 21 years before turning it into a rental when I moved to Florida.

The New Jersey exit tax is NOT and additional tax, it is an estimated tax and is entered as a withholding tax in TurboTax.

·        Click the Federal Taxes tab

·        Click the Deductions & Credits tab

·        Click I'll choose what I work on (or update if previously visited)

·        Scroll down to Withholding not already entered on a W-2 or 1099 click Start

·        Enter the EXIT TAX AMOUNT in the state box and Select New Jersey from the dropdown

·         

Please see this article for more information on the subject.

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1 Reply
RichardK
New Member

Where do I enter the exit tax paid to NJ when I sold my rental condo in 2016. I lived in that condo for 21 years before turning it into a rental when I moved to Florida.

The New Jersey exit tax is NOT and additional tax, it is an estimated tax and is entered as a withholding tax in TurboTax.

·        Click the Federal Taxes tab

·        Click the Deductions & Credits tab

·        Click I'll choose what I work on (or update if previously visited)

·        Scroll down to Withholding not already entered on a W-2 or 1099 click Start

·        Enter the EXIT TAX AMOUNT in the state box and Select New Jersey from the dropdown

·         

Please see this article for more information on the subject.

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