topic Live in new jersey and received a cash gift over $20,000 -is this taxable in new jersey ? in State tax filing

Live in new jersey and received a cash gift over $20,000 -is this taxable in new jersey ?

henshaw87 — Sat, 01 Jun 2019 17:48:26 GMT

No. There is no New Jersey state (or Federal) tax on gift...

MichaelDC — Sat, 01 Jun 2019 17:48:28 GMT

No. There is no New Jersey state (or Federal) tax on gift income. http://www.state.nj.us/treasury/taxation/njit12.shtml

Sometime on a federal return, there's a gift tax that the giver must pay; however, there is no New Jersey state gift tax laws, so New Jersey never imposes a tax on a gift.

However, you can claim it in the Sales Tax deduction sect...

SweetieJean — Sat, 01 Jun 2019 17:48:40 GMT

However, you can claim it in the Sales Tax deduction section of your Federal return if you itemize.