topic NJ Credit for NY Taxes - Not Working in State tax filing https://ttlc.intuit.com/community/state-taxes/discussion/nj-credit-for-ny-taxes-not-working/01/1803633#M77259 <P>I have an unusual situation for 2020.&nbsp; My husband received a lump sum separation payment for an employer for which he left in mid 2019.&nbsp; On the NY return, I had to calculate 4 years of previous taxes starting in 2016 on form IT-203F to get an average (?) taxable amount for NYS.&nbsp; He did not live nor work in NY at all in 2020.<BR /><BR />Do I still need to calculate the same tax credit on the credit for out of state taxes form in NJ?&nbsp; If so, what amount do I use.&nbsp; The instructions refer to the amount showing on the IT-203 for NY for taxable income.&nbsp;&nbsp; Turbo Tax picks up that number, which is about 60% of the amount he actually received in that lump sum payment.<BR /><BR />Thank you.</P> Sat, 16 Jan 2021 15:59:38 GMT Mary2e 2021-01-16T15:59:38Z NJ Credit for NY Taxes - Not Working https://ttlc.intuit.com/community/state-taxes/discussion/nj-credit-for-ny-taxes-not-working/01/1803633#M77259 <P>I have an unusual situation for 2020.&nbsp; My husband received a lump sum separation payment for an employer for which he left in mid 2019.&nbsp; On the NY return, I had to calculate 4 years of previous taxes starting in 2016 on form IT-203F to get an average (?) taxable amount for NYS.&nbsp; He did not live nor work in NY at all in 2020.<BR /><BR />Do I still need to calculate the same tax credit on the credit for out of state taxes form in NJ?&nbsp; If so, what amount do I use.&nbsp; The instructions refer to the amount showing on the IT-203 for NY for taxable income.&nbsp;&nbsp; Turbo Tax picks up that number, which is about 60% of the amount he actually received in that lump sum payment.<BR /><BR />Thank you.</P> Sat, 16 Jan 2021 15:59:38 GMT https://ttlc.intuit.com/community/state-taxes/discussion/nj-credit-for-ny-taxes-not-working/01/1803633#M77259 Mary2e 2021-01-16T15:59:38Z Re: NJ Credit for NY Taxes - Not Working https://ttlc.intuit.com/community/state-taxes/discussion/re-nj-credit-for-ny-taxes-not-working/01/1823158#M78027 <P><SPAN style="font-size:11pt"><SPAN style="font-family:Calibri,sans-serif">No Mary2e, you do not need to calculate the same credit for New Jersey. New York <A href="https://www.tax.ny.gov/pdf/2016/inc/it203f_1216_fill_in.pdf" target="_blank">Form IT-203F</A> shows how much of your current income should be New York versus&nbsp;non-New York income based upon previous employment in New York.</SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size:11pt"><SPAN style="font-family:Calibri,sans-serif">New Jersey residents are taxed on all income received, so the entire payment is taxable to NJ. However, you will only receive an other state tax credit for 60% because 60% is NY income, which is the amount reported on your NY non-resident return. The other 40% would be considered NJ income. A NJ resident would not receive an out of state tax credit on NJ income unless your husband worked in multiple states, in which case you would have to allocate and file other state tax returns.</SPAN></SPAN></P> Sun, 24 Jan 2021 20:04:29 GMT https://ttlc.intuit.com/community/state-taxes/discussion/re-nj-credit-for-ny-taxes-not-working/01/1823158#M78027 ErnieS0 2021-01-24T20:04:29Z Re: NJ Credit for NY Taxes - Not Working https://ttlc.intuit.com/community/state-taxes/discussion/re-nj-credit-for-ny-taxes-not-working/01/1823541#M78037 <P>Ernie,&nbsp; Thank you very much.&nbsp; I suspected that would be the response and wanted to check to make sure I was transferring the correct amount to the NJ return.</P> Sun, 24 Jan 2021 21:53:42 GMT https://ttlc.intuit.com/community/state-taxes/discussion/re-nj-credit-for-ny-taxes-not-working/01/1823541#M78037 Mary2e 2021-01-24T21:53:42Z
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topic NJ Credit for NY Taxes - Not Working in State tax filing
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https://ttlc.intuit.com/community/state-taxes/discussion/nj-credit-for-ny-taxes-not-working/01/1803633#M77259
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<P>I have an unusual situation for 2020.&nbsp; My husband received a lump sum separation payment for an employer for which he left in mid 2019.&nbsp; On the NY return, I had to calculate 4 years of previous taxes starting in 2016 on form IT-203F to get an average (?) taxable amount for NYS.&nbsp; He did not live nor work in NY at all in 2020.<BR /><BR />Do I still need to calculate the same tax credit on the credit for out of state taxes form in NJ?&nbsp; If so, what amount do I use.&nbsp; The instructions refer to the amount showing on the IT-203 for NY for taxable income.&nbsp;&nbsp; Turbo Tax picks up that number, which is about 60% of the amount he actually received in that lump sum payment.<BR /><BR />Thank you.</P>
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<pubDate>Sat, 16 Jan 2021 15:59:38 GMT</pubDate>
<dc:creator>Mary2e</dc:creator>
<dc:date>2021-01-16T15:59:38Z</dc:date>
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<title>NJ Credit for NY Taxes - Not Working</title>
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https://ttlc.intuit.com/community/state-taxes/discussion/nj-credit-for-ny-taxes-not-working/01/1803633#M77259
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<P>I have an unusual situation for 2020.&nbsp; My husband received a lump sum separation payment for an employer for which he left in mid 2019.&nbsp; On the NY return, I had to calculate 4 years of previous taxes starting in 2016 on form IT-203F to get an average (?) taxable amount for NYS.&nbsp; He did not live nor work in NY at all in 2020.<BR /><BR />Do I still need to calculate the same tax credit on the credit for out of state taxes form in NJ?&nbsp; If so, what amount do I use.&nbsp; The instructions refer to the amount showing on the IT-203 for NY for taxable income.&nbsp;&nbsp; Turbo Tax picks up that number, which is about 60% of the amount he actually received in that lump sum payment.<BR /><BR />Thank you.</P>
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<dc:creator>Mary2e</dc:creator>
<dc:date>2021-01-16T15:59:38Z</dc:date>
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<title>Re: NJ Credit for NY Taxes - Not Working</title>
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https://ttlc.intuit.com/community/state-taxes/discussion/re-nj-credit-for-ny-taxes-not-working/01/1823158#M78027
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<P><SPAN style="font-size:11pt"><SPAN style="font-family:Calibri,sans-serif">No Mary2e, you do not need to calculate the same credit for New Jersey. New York <A href="https://www.tax.ny.gov/pdf/2016/inc/it203f_1216_fill_in.pdf" target="_blank">Form IT-203F</A> shows how much of your current income should be New York versus&nbsp;non-New York income based upon previous employment in New York.</SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size:11pt"><SPAN style="font-family:Calibri,sans-serif">New Jersey residents are taxed on all income received, so the entire payment is taxable to NJ. However, you will only receive an other state tax credit for 60% because 60% is NY income, which is the amount reported on your NY non-resident return. The other 40% would be considered NJ income. A NJ resident would not receive an out of state tax credit on NJ income unless your husband worked in multiple states, in which case you would have to allocate and file other state tax returns.</SPAN></SPAN></P>
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<pubDate>Sun, 24 Jan 2021 20:04:29 GMT</pubDate>
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https://ttlc.intuit.com/community/state-taxes/discussion/re-nj-credit-for-ny-taxes-not-working/01/1823158#M78027
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<dc:creator>ErnieS0</dc:creator>
<dc:date>2021-01-24T20:04:29Z</dc:date>
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<title>Re: NJ Credit for NY Taxes - Not Working</title>
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https://ttlc.intuit.com/community/state-taxes/discussion/re-nj-credit-for-ny-taxes-not-working/01/1823541#M78037
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<P>Ernie,&nbsp; Thank you very much.&nbsp; I suspected that would be the response and wanted to check to make sure I was transferring the correct amount to the NJ return.</P>
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<pubDate>Sun, 24 Jan 2021 21:53:42 GMT</pubDate>
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<dc:creator>Mary2e</dc:creator>
<dc:date>2021-01-24T21:53:42Z</dc:date>
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