Inregard to the taxble portion of a contributory pension , under NJ law,is the cost of the annuity or basis, the amount contributed by the individual.
For state purposes, the cost (or basis) of an annuity is the amount of after-tax contributions you made to the contributory pension plan, if any. Some portion of the distributions is a return of those after-tax contributions and is non-taxable.
Inregard to the taxble portion of a contributory pension , under NJ law,is the cost of the annuity or basis, the amount contributed by the individual.
For state purposes, the cost (or basis) of an annuity is the amount of after-tax contributions you made to the contributory pension plan, if any. Some portion of the distributions is a return of those after-tax contributions and is non-taxable.
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.