All Income is taxable on your Resident Return. The program pulls the income entered in the Federal portion to your state return. If you are a Part Year Resident enter the Interest, Dividend and Business Income/Loss as they are attributed to New Jersey.
New Jersey Income Subject to Tax:
Net Gambling Winnings
Net Gambling winnings are the total winning minus the losses. Amounts less than $0 cannot be entered. New Jersey taxes winnings of $10,000 or more. Be prepared to show the losses used to reduce the winnings claimed on the return.
Military Pension or Survivor’s Benefit Payments Adjustment
New Jersey does not tax military pensions or survivor's benefits. If these payments are included in your federal income, enter the amount as a negative number to exclude the payments from your New Jersey return.
Tax-Exempt Pensions, Annuities, and IRA Withdrawals
This is the total amount of contributions that were taxed previously.
Taxable Amount of Scholarships Included on Federal Return
New Jersey does tax scholarships and fellowship grants unless all three of the following apply:
- The primary purpose of the grants is to further the recipients’ education or training; and
- The grant does not represent payments for past, present, or future services nor payments for services that are subject to the direction or supervision of the grantor (e.g. a fellowship given in exchange for teaching); and
- The grant is not for the benefit of the grantor.
NJ 1065 - K1 and NJ 1120S - K1
Complete the NJ Schedule K1 section to report income from your partnership. If you did not receive a NJ Schedule K1 contact the partnership to obtain one. If you are unable to obtain the NJK1, you will need to use the federal form to create the state form needed to file. See Tax Topic GIT-9P and Tax Topic Bulletin GIT-9S for more information.
How do I enter these manual adjustments within my account?
To enter in adjustments on your New Jersey return, follow these steps within the program:
- State Section
- New Jersey Return
- Income Subject to Tax