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ariainvictus
Returning Member

NJ annuity lump sum unsure what is taxable

As per turbotax, it looks like this:

 

 

Pension/Annuity Distribution for You
Below is the information you entered on your federal return for the following pension distribution or annuity that you received. Learn More
Gross Distribution
$7,234
Federal Taxable Amount
$3,282
Amount Received and Taxable During New Jersey Residency _______

 

I know the actual amount received after fed taxes were withheld. I have no idea what the taxable amount is and thus no way I can put a number in the area I need to.

 

Can you help?

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1 Reply
Cynthiad66
Expert Alumni

NJ annuity lump sum unsure what is taxable

You should be able to calculate the amount earned while in NJ by taking the number of months.  For instance, there are 12 months and you lived in NJ for 8 months.  You  lived in NJ for 66% of the time there 66% of $7,234.00 = $4774 in NJ as an example.

 

That should help.

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