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NJ 1099r. Box 7 has code 4 distributions from pensions annuities-is it taxable in Federal or NJ?

Is a gross distribution on a NJ 1099R that has a Code 4 in Block 7 Taxable.

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NJ 1099r. Box 7 has code 4 distributions from pensions annuities-is it taxable in Federal or NJ?

It is taxable in both.

However, NJ has a Pension Exclusion for ages 62+.

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NJ 1099r. Box 7 has code 4 distributions from pensions annuities-is it taxable in Federal or NJ?

It is taxable in both.

However, NJ has a Pension Exclusion for ages 62+.

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