When I close an IRA ROTH and withdraw only the contributed amount or less, how do I make it clear there were no earnings and it was all contributions? NJ is taxing it all

posted

Connect with an expert

1 Reply

NJ will claim as taxable any Roth with Code J or T in Box 7.

When you get to the page in the NJ return that tells you its taxable. Hit Continue.

If it is the first year of withdrawal you get this pop out. Any Contributions you made to the Roth were already taxed.

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

Still have questions?

Questions are answered within a few hours on average.

*Must create login to post

Unlock tailored help options in your account.