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gymdandie
New Member

What is the Maximum Pension Exclusion for NJ returns? My recent filing shows $40,000 which double what it was last year.

My recently filed NJ return (2/25/2018) shows a Pension exclusion of $40,000. I am sure the maximum pension exclusion is $20,000. Do I need to re-file? or did the exclusion double from last year?

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DanielV01
Expert Alumni

What is the Maximum Pension Exclusion for NJ returns? My recent filing shows $40,000 which double what it was last year.

It doubled (if you are Married Filing Joint).   The pension exclusion is 40,000 for 2017 pension income. In addition, the exclusion will continue to increase over the next several years.  Please click on this website link for additional information:  NJ Division of Taxation - Income Exclusions - State of New Jersey

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DanielV01
Expert Alumni

What is the Maximum Pension Exclusion for NJ returns? My recent filing shows $40,000 which double what it was last year.

It doubled (if you are Married Filing Joint).   The pension exclusion is 40,000 for 2017 pension income. In addition, the exclusion will continue to increase over the next several years.  Please click on this website link for additional information:  NJ Division of Taxation - Income Exclusions - State of New Jersey

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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