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1099-C (credit card debt cancellation) in NJ State return - reportable?

budlavin11 — Tue, 04 Jun 2019 19:32:33 GMT

I entered a 1099-C cancellation of debt (credit card) on my federal return. When I opened the NJ return, TT told me that "NJ taxability undetermined - income from cancellation of debt." and the program suggest I call NJ Div of Taxation. Well, when I called, it told me they are very busy this time of year and can't take calls. So where would I find this information? Thanks!

No, cancellation of debt is considered exempt income, and...

DanO — Tue, 04 Jun 2019 19:32:34 GMT

No, cancellation of debt is considered exempt income, and should not be included when you file your New Jersey return. return.

Click here to see New Jersey exempt income.

Thanks DanO!

budlavin11 — Tue, 04 Jun 2019 19:32:35 GMT

Thanks DanO!