topic NJ Return - Pension, Annuities, & IRA Withdrawals Worksheet in State tax filing

NJ Return - Pension, Annuities, & IRA Withdrawals Worksheet

AV8025 — Tue, 14 Apr 2020 16:37:12 GMT

I am hung up on the wording in Section 1 - IRA Withdrawals, Part B, Line 6: "Taxable contributions" made to IRA during current tax year.

I made $7000 non-deductible contribution to T-IRA in 2019. Non-deductible, so contribution was made using taxed dollars. Line 6 wording of "taxable contributions' is confusing. At what point are they considering the contribution taxable? At time of contribution (i.e. a nondeductible contribution has been taxed) or later when withdrawn (a deductible contribution will be taxed at withdrawal)? Is my $7000 nondeductible contribution considered a "taxable contribution?" TIA for clarifying.

Re: NJ Return - Pension, Annuities, & IRA Withdrawals Worksheet

JulieS — Tue, 14 Apr 2020 17:32:30 GMT

New Jersey does not allow a deduction for retirement contributions, so all IRA contributions are "taxable contributions" for New Jersey.

You should enter the amount of your IRA contributions for 2019.

Re: NJ Return - Pension, Annuities, & IRA Withdrawals Worksheet

Demostenes — Mon, 06 Jul 2020 19:01:01 GMT

My issue in this area is that I am taking my RMDs and Defined Benefits and am just trying to wrap up this NJ tax filing. I am stuck! See screen shot Where and what do I put in this box and box 2. I cannot finish this tax form unless I complete these points. Very frustrating. Call my Annuity dept? or find the info in my paperwork on hand? Assist please.