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Level 2
posted Feb 10, 2022 8:44:13 AM

Live in NY, Work in NJ - should interest be considered in the gross income in the NJ nonresident form

I live in NY,  and work in NJ. When filing NJ nonresident tax form, should interests received from banks be considered in the gross income in the NJ nonresident form? Is it double taxed if interests are considered in both NJ and NY states tax form?

 

I don't think it should be included in the NJ nonresident form. However, turbotax summary shows that interests are included in the NJ gross interest, which is deducted from NJ personal exemption 1000. Is it correct?

 

 

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1 Replies
Expert Alumni
Feb 10, 2022 1:03:44 PM

Yes and no.  The interest income will be included in Column A of the return, but then it will be removed from column B which is the New Jersey Source Income column.  You should have a screen that asks you about NJ source income.  On that screen you will remove the interest income. 

 

NJ Non Resident form