I live in Minnesota. Last week, I sold a home I had inherited in New Jersey. They withheld a 2% Non-resident Tax. Is this a tax I owe or is it an estimated tax for 2022?
The reason I ask is that last year (2021) I also sold an inherited property in New Jersey. TurboTax did my taxes and I ended up paying $36 on top of the 2% Non-resident Tax and I don't see the 2% Non-resident Tax on my 2021 New Jersey return.
If it is an estimated tax, do I need to file an amended 2021 New Jersey return to get back that money?
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Hi @Angelo L
Yes, this is an estimated tax on what you possibly owe. It does not reflect the actual amount you will end up owing to NJ.
As far as last year, I would check to see if the state taxes withheld were entered on the 1099-S you received for the sale of the home. If they were not, then you should amend.
Thank you for choosing TurboTax!
David,
Thank you for the reply. I do not see the "out-of-state" real estate tax on the 1099-S. It is on the HUD-1 form that I supplied to the TurboTax expert who did my taxes.
Since TurboTax did my taxes, should they file the amended New Jersey tax return or should I?
If you used TurboTax Full Service, You will need to get a copy of Desktop in order to file the amended return. Our Customer Service Department will be more then willing to help you get this download since you have paid and help you with the amend.
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