Will I have to pay an Expected Return on Contract amount if it took money from my 401k as a NJ resident?
053518
1 Best answer
Anita01
New Member
Jun 5, 2019 11:44:13 PM
Not at all. The expected return on contract is not something you pay. It's an amount you are expecting to receive over the life of the retirement plan and its used to determine how much of your distribution is taxable in the state.
5 Replies
Anita01
New Member
Jun 5, 2019 11:44:13 PM
Not at all. The expected return on contract is not something you pay. It's an amount you are expecting to receive over the life of the retirement plan and its used to determine how much of your distribution is taxable in the state.
craig812vs
New Member
Jun 5, 2019 11:44:15 PM
Does this amount need to be calculated for any nj resident that took an early withdrawal from their 401k?
EPQ
Level 2
Jun 5, 2019 11:44:15 PM
How do I calculate the "expected return on contract" ?
fanfare
Level 15
Jun 5, 2019 11:44:17 PM
the whole concept does not apply to 401k. Just ignore those questions.
UUDancer
Level 1
Feb 15, 2022 1:28:14 PM
I am totally confused about this. What do I have to enter in this field to finish my NJ tax return? I have never seen this field before.