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Looking at NJ 2016 tax return box 19B has a number in it. Trying to figure out why it showed up? First year I used turbo tax..
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Looking at NJ 2016 tax return box 19B has a number in it. Trying to figure out why it showed up? First year I used turbo tax..
NJ 1040 Line 19b. Excludable Pensions, Annuities, and IRA Withdrawals
Enter the excludable portion of any distribution you received from a contributory pension, annuity, or IRA. This is the amount that represents your previously taxed contributions.
NJ has never permitted IRA contributions to be deducted from gross income, so that part is not taxable when you take a distribution. The same is true for employee contributions to Federal Thrift Savings Funds, 403(b), 457, SEP, or any other type of retirement plan other than 401(k) Plans.
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Looking at NJ 2016 tax return box 19B has a number in it. Trying to figure out why it showed up? First year I used turbo tax..
NJ 1040 Line 19b. Excludable Pensions, Annuities, and IRA Withdrawals
Enter the excludable portion of any distribution you received from a contributory pension, annuity, or IRA. This is the amount that represents your previously taxed contributions.
NJ has never permitted IRA contributions to be deducted from gross income, so that part is not taxable when you take a distribution. The same is true for employee contributions to Federal Thrift Savings Funds, 403(b), 457, SEP, or any other type of retirement plan other than 401(k) Plans.
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