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danobilor
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How to the New Jersey College Affordability Deductions work

 
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1 Reply
maglib
Level 11

How to the New Jersey College Affordability Deductions work

@danobilor   For Tax Year 2022 and forward, The New Jersey College Affordability Act allows for three Income Tax deductions for those who file tax returns showing gross income of $200,000 or less. Deductions include contributions to an NJBEST 529 savings plan, payments made for an NJCLASS student loan, and tuition costs for New Jersey colleges and universities.

 

You would have entered college expenses during the Federal interview. 

In NJ interview it will only ask the questions if you qualify having a dependent in college and under the gross income requirement.

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