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Level 1
posted Apr 18, 2023 7:30:22 AM

Pension worksheet PartC

Hi,

An error comes up that I need entries for the New Jersey Pensions worksheet, Part C Lines 1 and 2:

"Enter the cost for the annuity" and

"Cost covered in prior years".

 

Where do I ge these numbers from?

0 1 194
1 Best answer
Expert Alumni
Apr 19, 2023 10:58:29 AM

From your contribution records. If you have no record, then you have no basis and the full amount is taxable. Please see GIT-1 - Pensions and Annuities for understanding how to calculate your basis and recovery.

1 Replies
Expert Alumni
Apr 19, 2023 10:58:29 AM

From your contribution records. If you have no record, then you have no basis and the full amount is taxable. Please see GIT-1 - Pensions and Annuities for understanding how to calculate your basis and recovery.