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posted Jun 7, 2019 3:26:57 PM

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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1 Best answer
Level 15
Jun 7, 2019 3:26:57 PM

It is taxable in both.

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

1 Replies
Level 15
Jun 7, 2019 3:26:57 PM

It is taxable in both.

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