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No, you do not have to include the cancellation of debt as income on your New Jersey income tax return. It should not appear anywhere on your NJ tax return.
You can reference the table Exempt Income on page 18 of the NJ tax return instructions at the link below:
http://www.state.nj.us/treasury/taxation/pdf/current/1040i.pdf
No, you do not have to include the cancellation of debt as income on your New Jersey income tax return. It should not appear anywhere on your NJ tax return.
You can reference the table Exempt Income on page 18 of the NJ tax return instructions at the link below:
http://www.state.nj.us/treasury/taxation/pdf/current/1040i.pdf
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