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Level 3
posted Dec 9, 2023 8:41:22 AM

Foreign retirement income in New Jersey. How to report it? Which line of NJ 1040 Tax Return it must be reported on?

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3 Replies
Level 15
Dec 9, 2023 9:06:38 AM

To enter foreign retirement income, you must prepare a substitute 1099-R.  See this previous TT Q&A:

There is supposed to be teh capability of entering a substitute 1099-R form, but I never get the option. (intuit.com)

 

Once you've entered the substitute 1099-R into your federal return, the information should carry over to your state return.

Level 3
Dec 9, 2023 10:05:13 AM

Tom thank you very much for your prompt reply. Something else: is there any possibility to directly report it on Line 20a) of NJ 1040 Tax Return?. It’s the line related to pensions, retirements and so on and I have been told that it doesn’t matter where the retirement comes from . So, it should be reported on it. What do you think ? Thanks a lot again . Your comments are extremely appreciated . 

Level 15
Dec 9, 2023 2:44:47 PM

My recommendation is to let the program do the work.  But if you wish, you can override the program's entries by using Forms Mode.  Note that Forms Mode is not available in the online version of Turbotax; it is available only in the CD/Download versions.

What is Forms Mode? (intuit.com)