- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Live in NJ and work in NY. What exactly needs to be added back? Looks like Commuter Benefits, HSA/FSA, pretax medical premiums. roth/reg 401k? Anything else?
Topics:
posted
June 6, 2019
10:01 AM
last updated
June 06, 2019
10:01 AM
2 Replies
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Live in NJ and work in NY. What exactly needs to be added back? Looks like Commuter Benefits, HSA/FSA, pretax medical premiums. roth/reg 401k? Anything else?
You don't need to add back a Traditional 401K. NJ does allow a deduction for a 401K. However, if the retirement plans is a 403B (marked with code E instead of code D in box 12), or an IRA, these deductions are added back into income for NJ. Typically speaking, the tax differences are already reported on your W2 (which you will notice if the amount in box 16 for NJ is different than box 1 on the w2). For additional information, please click on this link for the NJ website that discusses this: NJ Division of Taxation - NJ Income Tax Wages - State of NJ
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
June 6, 2019
10:01 AM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Live in NJ and work in NY. What exactly needs to be added back? Looks like Commuter Benefits, HSA/FSA, pretax medical premiums. roth/reg 401k? Anything else?
Thank you. Neither my firm nor my wife's provided a NJ W2 and therefore I have to make these adjustments myself. We both received federal and NY. Turbotax gives me zero guidance on this adjustment.
June 6, 2019
10:02 AM
Still have questions?
Make a post