turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Deciphering Your Tax Forms on Feb 19! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

anadmaj
New Member

Is gross income same as adjusted gross income?

The filing treshold for NJ state income tax return for a single is "$10 000 gross income for the entire year from everywhere". I'm a NJ resident and my ONLY income is from a rental property in FL making $18700 in rent, with net profit $5740. My adjusted gross income is $6450. Do I need to file NJ state taxes? Which number do I use to determine if I need to file state taxes at all? ( $18700 or $6450?) I was told I don't need to file FL state taxes since Florida doesn't have an income tax.
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
IreneS
Intuit Alumni

Is gross income same as adjusted gross income?

No - gross income is all your income, before any deductions.  Your adjusted gross income (AGI) is equal to your gross income minus any eligible adjustments that you may qualify for.

Since you gross income is $18,700, over the $10,000 threshold, you must file a NJ return.



**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question