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I became a Florida resident on April 12, 2019 but still have a home in New Jersey. All my income is passive. Can I just take a percentage of all my income items and multiply by the percentage of time in NJ to get my NJ Income?
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Yes.
Part-year residents must use Form NJ-1040 and indicate the period of their New Jersey residency. The return should show only the income received during that period. Likewise, part-year nonresidents must use Form NJ1040NR and indicate the period of time they were residents.
If you received income from New Jersey sources during both your residency and nonresidency periods, you must file both a NJ-1040 and a NJ-1040NR. You must report the income you received during the time you were a resident on your resident return. Report the income received while you were a nonresident on your nonresident return.
Part-year residents must prorate all of their exemptions, deductions, and credits, in addition to pension and other retirement income exclusions, to reflect the time period covered by their return. (In this publication, prorate means to allocate proportionally over a set time period.)
maybe. if the passive income is all earned in NJ (ie all the property is located there) all that income is taxable in NJ despite living part of the year Fl. if property is located outide of NJ. that would be taxable only for the portion of the yaer you lived in NJ. In addition you might have to file a non resident state return to report the income earned in that state
I could not e-file NJ-1040 and NJ-1040NR simultaneously through TurboTax.
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