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posted Feb 7, 2024 10:42:20 PM

recovering unclaimed property from another state

I am a Hawaii state resident.  In 2023 I recovered some unclaimed property from the state of New Jersey. The cash value is for some stock and interest earned since NJ took possession totaling about $300. They sent me a 1099-INT form.  I have entered it into my federal income tax calculation.

 

My question is this... in addition to my Hawaii state tax return,  do I also need to file a state return for New Jersey with just  the $300 income as documented in the 1099-INT?

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1 Replies
Expert Alumni
Feb 8, 2024 7:22:04 AM

No, you do not.

 

According to The TaxBook, page NJ-1, New Jersey filing requirements states:

 

Individuals must file if they have any New Jersey-source income and meet the filing requirements, above.

 

The $300 does not meet the income requirements for filing.

 

 

 

See also New Jersey Division of Taxation here.