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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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NJ Taxing a Roth Distribution
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athaureaux6
Level 8
03-13-2024
06:15 PM
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Hi online community, does anybody know why NJ is taxing a Roth Distribution that was a qualified distribution for the federal level. I checked the NJ Division of Taxation and they say the follow the federal guidelines but they tax the distribution. The taxpayer has been contributing for more than 5 years and took some money related to the contribution not the gain and it was no taxable in the federal return but it seems to be taxable in the state of NJ> Does anybody have an idea about that? I have talked to some NJ tax preparers and they have conflicting information. Thank you everybody.
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