×
tax forms found in
Tax Form Code
Tax Form Name

New Jersey Free Printable 2023 NJ-1040 Instructions for 2024 New Jersey Form NJ-1040 Instructions

It appears you don't have a PDF plugin for this browser. Please use the link below to download 2023-new-jersey-individual-tax-instructions.pdf, and you can print it directly from your computer.

Form NJ-1040 Instructions
2023 NJ-1040 Instructions

PRSRT STD US POSTAGE PAID STATE OF NEW JERSEY New Jersey Resident Return NJ-1040 This Booklet Contains: • Form NJ-1040 Resident Return • Form NJ-1040-HW Property Tax Credit/ Wounded Warrior Caregivers Credit Application • Form NJ-1040-V Payment Voucher • Form NJ-2450 Claim for Excess Unemployment/ Disability/Family Leave Insurance Contributions • Form NJ-630 Application for Extension • Form ST-18 Use Tax Return • NJ-EZ Enroll Form Did you make online, catalog, or out-of-State purchases? You may owe New Jersey Use Tax. See page 35. 2023 NJ-1040 NJ DIVISION OF TAXATION PO BOX 269 TRENTON, NJ 08695-0269 File Electronically Before you fill out a paper form, consider these reasons why you should file electronically using NJ E-File or New Jersey Online Filing: • Fastest and most secure way to complete your return • Easy and accurate • Direct deposit available NJ E-File You can file your Form NJ-1040 for 2023 using NJ E-File, whether you are a full-year resident or a partyear resident. Use tax software you purchase, go to an online tax preparation website, or have a tax preparer file your return. (You can file both federal and State Income Tax returns.) New Jersey Online Filing Use the free New Jersey Online Filing Service to file your 2023 NJ-1040 return. It’s simple and easy to follow the instructions, complete your NJ tax return, and file it online. Any resident (or part-year resident) can use it to file their 2023 NJ-1040 for free. INSERT  State of New Jersey Department of the Treasury Division of Taxation Dear Taxpayer, We are pleased to introduce the 2023 NJ-1040 return and instructions, which are enclosed for your convenience. Important changes were made this tax year to assist residents. New Jersey has doubled the amount of the Child Tax Credit available for taxpayers with children who are age 5 or younger. Credits range from $200 to $1,000 for filers with incomes up to $80,000. Another change involves GetCoveredNJ, the health insurance marketplace where you can obtain affordable healthcare coverage. If any member of your tax household has no health insurance, you must complete the new NJ-EZ Enroll form. If you agree to get coverage, you will not have to make a shared responsibility payment. Simply fill in the oval at line 53b, and complete the new NJ-EZ Enroll form to receive information on how to get covered. We also offer an online e-filing service designed to make completing your State tax return as simple and convenient as possible. This service allows most New Jerseyans to file a tax return free of charge. You can start your return now and finish it later without losing any information, and you can upload copies of W-2s and other financial documents. Once submitted, you will receive immediate confirmation that your return has been received by the State of New Jersey. Visit our website at nj.gov/treasury/taxation to get started. As always, feel free to contact us if you have any questions. I wish you and your family all the best in the New Year. Sincerely, Marita R. Sciarrotta Acting Director Division of Taxation Table of Contents When to File............................................................................................................. 4 Extension of Time to File.......................................................................................... 4 Taxpayer Identification.............................................................................................. 5 Part-Year Residents................................................................................................. 5 Filing Status.............................................................................................................. 5 Exemptions............................................................................................................... 6 Dependent Information............................................................................................. 7 Income...................................................................................................................... 7 Schedule NJ-DOP — Disposition of Property........................................................ 11 Schedule NJ-BUS-1 — Business Income Summary.............................................. 16 Pension/Retirement Exclusion and Other Retirement Income Exclusion............... 20 Deductions............................................................................................................. 23 Property Tax Deduction/Credit................................................................................ 25 Calculating Your Tax Liability.................................................................................. 31 Credit for Income Taxes Paid to Other Jurisdictions............................................... 31 Schedule NJ-COJ — Taxes Paid to Other Jurisdiction........................................... 31 Use Tax Due........................................................................................................... 35 Shared Responsibility Payment............................................................................. 37 Withholdings/Payments.......................................................................................... 41 New Jersey Earned Income Tax Credit.................................................................. 42 Wounded Warrior Caregivers Credit...................................................................... 43 Child and Dependent Care Credit.......................................................................... 43 New Jersey Child Tax Credit.................................................................................. 44 Charitable Contributions......................................................................................... 44 How to Pay............................................................................................................. 46 Where to Mail Your Return..................................................................................... 47 Military Personnel................................................................................................... 47 Deceased Taxpayers.............................................................................................. 48 NJ-1040-HW — Property Tax Credit/Wounded Warrior Caregivers Credit Application............................................................................................. 49 County/Municipality Codes..................................................................................... 52 Tax Table................................................................................................................ 54 Tax Rate Schedules............................................................................................... 63 Index....................................................................................................................... 66 2023 Form NJ-1040 3 Do You Have to File a New Jersey Income Tax Return? You are required to file a return if – your filing status is: and your gross income from everywhere for the entire year was more than the filing threshold: Single Married/CU partner, filing separate return $10,000 Married/CU couple, filing joint return Head of household Qualifying widow(er)/surviving CU partner $20,000 Also file a return if – •• You had New Jersey Income Tax withheld and are due a refund. •• You paid New Jersey estimated taxes for 2023 and are due a refund. •• You are eligible for a New Jersey Earned Income Tax Credit or other credit and are due a refund. If you are NOT required to file a return and you: •• Are a homeowner or tenant age 65 or older or disabled, you may be eligible for a Property Tax Credit. See the instructions for Form NJ-1040-HW on page 49; •• Provided care for a disabled veteran who is related to you and lived with you, you may be eligible for a Wounded Warrior Caregivers Credit. See the instructions for Form NJ-1040-HW on page 49. Which Form to File Military personnel and their spouses/civil union partners, see page 47. Was New Jersey your domicile (see definition on page 4) for any part of the year? Yes Did you maintain a permanent* home in New Jersey? Yes No No Did you maintain a permanent home outside New Jersey? No Yes Did you spend more than 30 days in New Jersey? Yes No No Did you maintain a permanent* home in New Jersey for any part of the year? File Form NJ-1040NR if you had income from New Jersey sources. No Yes Did you spend more than 183 days in New Jersey? File Form NJ-1040 Part-year residents: If New Jersey was your domicile for only part of the year and you received income from New Jersey sources while you were a nonresident, also file NJ-1040NR. Yes File Form NJ-1040 Part-year residents: If you had a permanent home in New Jersey for only part of the year and you received income from New Jersey sources while you were a nonresident, also file NJ-1040NR. * A home is not permanent if it is maintained only for a temporary period to accomplish a particular purpose (e.g., temporary job assignment). A home used only for vacations is not a permanent home. New Jersey Residents Working/Living Abroad. Use the chart above to determine if you are considered a New Jersey resident for tax purposes. New Jersey residents working or living abroad have the same filing and payment requirements as residents living in New Jersey. Part-Year Residents. There is no part-year resident return. You may have to file both Form NJ-1040 to report income you received for the part of the year you were a resident and Form NJ-1040NR if you had income from New Jersey sources for the part of the year you were a nonresident.  2023 Form NJ-1040 4 Things to Know Before You Begin Your 2023 NJ-1040 Check the following items to avoid mistakes that delay returns and refunds. When to File In general, your New Jersey Income Tax return is due when your federal income tax return is due. If you are a calendar year filer, your 2023 New Jersey Income Tax return is due by April 15, 2024. Fiscal year filers, see page 5. Postmark Date All New Jersey Income Tax returns postmarked on or before the due date of the return are considered filed on time. Tax returns postmarked after the due date are considered filed late. If the postmark date on your return is after the due date, the filing date for that return is the date we received your return, not the postmark date. Extension of Time to File There is no extension of time to pay your tax due – only to file. Penalties and interest will be charged if you pay your tax after April 15, 2024. (Military personnel and civilians providing support to the Armed Forces, see page 47.) You can receive a six-month extension of time to file if you pay at least 80% of your tax liability (line 45) through withholdings, estimated payments, or other payments by the original due date, and •• You enclose a copy of your federal Application for Automatic Extension, if filed by paper, and fill in the oval on the front of your NJ-1040; or •• You file Form NJ-630, Application for Extension of Time to File New Jersey Gross Income Tax Return, by April 15, 2024. You can file an extension application online until 11:59 p.m., April 15, 2024, at nj.gov/taxation or use the NJ-630 provided at the front of this booklet. If you do not meet the requirements for an extension, or you do not file your return by the extended due date, we will deny your extension request and charge penalties and interest from the original due date of the return. (See “Penalties and Interest” on page 47.) You will not receive an approved copy of your extension request. We will notify you only if we deny your request, but not until after you actually file your return. Filling Out the Form Properly •• Use only a 2023 return for the 2023 Tax Year. •• Use only blue or black ink. •• Enter last name first on the return. This is different from the federal return. •• Use “State Wages” from box 16 of your W-2, not federal wages (box 1). •• Do not use dollar signs or dashes. •• Do not report a loss on Form NJ-1040 (see page 7). •• If a line does not apply to you, leave it blank. There is an exception for Use Tax, line 51. See page 35. •• To request a refund, you must enter an amount on line 80. Rounding Instead of making dollars-and-cents entries on your return, you can round and use whole dollar amounts. If you round, do so for all lines, and enter “00” after the decimal for cents. Round amounts of 50 cents or more up to the next whole dollar. For example, $26.78 becomes $27.00. Round amounts of less than 50 cents down to the next whole dollar. For example, $13.45 becomes $13.00. Round the total, not the amounts used to calculate the total. For example, the sum of $13.45 and $46.24 is $59.69, which becomes $60.00. Terms to Know Domicile. A domicile is the place you consider your permanent home – the place where you intend to return after a period of absence (e.g., vacation, business assignment, educational leave). You have only one domicile, although you may have more than one place to live. Your domicile does not change until you move to a new location with the intent to establish your permanent home there and to abandon your New Jersey domicile. Moving to a new location, even for a long time, does not change your domicile if you intend to return to New Jersey. Your home, whether inside or outside New Jersey, is not permanent if you maintain it only for a temporary period to accomplish a particular purpose (e.g., temporary job assignment). For more information, see GIT-6, Part-Year Residents and Nonresidents. Principal Residence (Main Home). A principal residence (main home) is a home you own or rent and actually occupy as your permanent residence. It does not include a vacation home, a “second home,” or property you own and rent to someone else. The term main home may be used in place of principal residence in these instructions. Spouse/Civil Union Partner. The term spouse also refers to a spouse who entered into a valid same-sex marriage in another state or foreign nation and a partner in a civil union (CU) recognized under New Jersey law. 2023 Form NJ-1040 Line-by-Line Instructions Name and Address Place the peel-off label from the front of this booklet in the name and address section at the top of the return. Do not use the label if any of the information is incorrect. If it has incorrect information or you do not have a label, print or type the information in the spaces provided. If you are filing jointly, include your spouse’s name. Your refund and next year’s form will be sent to the address you provide. Foreign Address. Fill in the oval if your mailing address is outside the United States. Change of Address. Fill in the oval if your address has changed since you last filed a New Jersey return or if any of the address information on your label is incorrect. Social Security Number You must enter your Social Security number in the boxes provided on the return, one digit in each box. If you are filing jointly, enter both filers’ numbers in the same order as the names. If you (or your spouse) do not have a Social Security number, contact the Social Security Administration to apply for one. If you are not eligible for a Social Security number, contact the Internal Revenue Service to get an individual taxpayer identification number (ITIN) and enter your ITIN in the boxes provided for your Social Security number. If you (or your spouse) applied for but have not received an ITIN by the return due date, enclose a copy of your federal Form W-7. County/Municipality Code Enter the four-digit code of your current residence from the table on page 52. Enter one digit in each box. Federal Extension Filed Fill in the oval if you filed a federal Application for Automatic Extension. Enclose a copy of the federal extension request with your return if you filed it by paper. For more information on extensions, see page 4. Part-Year Residents If you were a New Jersey resident for only part of the year, list the month and day in the tax year your residency began and the month and day in the tax year it ended. For example, if you moved to New Jersey August 4, 2023, enter 08/04/23 to 12/31/23. 5 You must file a return if your income for the entire year (not just your period of New Jersey residency) was more than the filing threshold for your filing status (see page 3). Only report income you earned while a New Jersey resident. You must prorate exemptions, deductions, credits, and the pension/retirement and other retirement income exclusions based on the number of months you were a New Jersey resident. For this calculation, 15 days or more is considered a month. If you received income from a New Jersey source while you were a nonresident, you must also file a New Jersey nonresident return. For more information, see GIT-6, Part-Year Residents and Nonresidents. Fiscal Year Filers If you are a fiscal year filer, you must file your New Jersey Income Tax return by the 15th day of the fourth month following the close of the fiscal year. Enter the month that your fiscal year ends in the boxes provided. Lines 1–5 – Filing Status In general, you must use the same filing status as you do for federal purposes. Fill in only one oval. Single. Your filing status is single if you were not married or a partner in a civil union on the last day of the tax year, and you do not qualify to file head of household or qualifying widow(er)/surviving CU partner. Married/Civil Union Couples. If you are married and file a joint federal return, you must also file a joint New Jersey return. If you file separate federal returns, you must also file separate State returns. However, if you are a partner in a civil union, your filing status for New Jersey may not match your federal filing status. If during the entire tax year one spouse was a resident and the other a nonresident, the resident can file a separate New Jersey return. The resident calculates income and exemptions as if a federal married, filing separate return had been filed. You have the option of filing a joint return, but in that case, your joint income would be taxed as if you both were residents. If you are filing separately, enter your spouse’s Social Security number in the boxes provided. Note: You can file jointly or separately only if you were married or a partner in a civil union on the last day of the tax year. Head of Household. You can use this filing status if you meet the requirements to file as head of household for federal purposes. Visit the IRS website at irs.gov for more information. 6 2023 Form NJ-1040 Qualifying Widow(er)/Surviving CU Partner. You can use this filing status if your spouse died in 2021 or 2022 and you meet the requirements to file as Qualifying Surviving Spouse for federal purposes. Visit the IRS website at irs.gov for more information. You must enclose a copy of the doctor’s certificate or other medical records evidencing legal blindness or total and permanent disability the first time you claim the exemption(s). Fill in the oval indicating the year in which your spouse died. You can claim a $6,000 exemption if you are a military veteran who was honorably discharged or released under honorable circumstances from active duty any time before the last day of the tax year. If you are filing jointly, your spouse can also take this exemption if they are a military veteran who meets the requirements. You cannot claim this exemption for your domestic partner or dependents. Civil Unions. Partners in a civil union must file their New Jersey Income Tax returns using the same filing statuses as spouses under New Jersey Gross Income Tax Law. If you are a partner in a civil union, your New Jersey filing status may not match your federal filing status. For more information, see GIT-4, Filing Status. Exemptions – Lines 6–12 Fill in the ovals that apply. For each line, enter a total in the boxes to the right and complete the calculation. The number of exemptions you are claiming must be entered in the boxes or the exemption(s) will be disallowed. The number of ovals filled in must equal the number of exemptions claimed. Line 6 – Regular Exemptions You can claim a $1,000 exemption for yourself and your spouse/CU partner (if filing a joint return) or your domestic partner. Line 9 – Veteran Exemptions You must provide official documentation showing that you were honorably discharged or released under honorable circumstances from active duty the first time you claim the exemption(s). Your documentation must list your character of service (discharge). A list of acceptable documentation and ways to submit it is available on our website at nj.gov/treasury/taxation/military/ vetexemption-documentation.shtml Line 10 – Qualified Dependent Children You can claim a $1,500 exemption for each child who qualifies as your dependent for federal tax purposes. Note: The domestic partnership must be registered in New Jersey by the last day of the tax year. You can only claim your domestic partner if they do not file a New Jersey return. You must enclose a copy of your Certificate of Domestic Partnership the first time you claim the exemption. Line 11 – Other Dependents Line 7 – Senior 65+ You can claim an additional $1,000 exemption for each dependent student if all the requirements below are met. You cannot claim this exemption for yourself, your spouse, or your domestic partner. •• Student must be claimed as a dependent on line 10 or 11. •• Student must be under age 22 on the last day of the tax year (born 2002 or later). •• Student must attend full-time. Full-time is determined by the school. •• Student must spend at least some part of each of five calendar months of the tax year at school. •• The educational institution must be an accredited college or post-secondary school, maintain a regular faculty and curriculum, and have a body of students in attendance. You can claim a $1,000 exemption if you were 65 or older on the last day of the tax year (born in 1958 or earlier). If you are filing jointly, your spouse can take a $1,000 exemption if they were 65 or older on the last day of the tax year. You cannot claim this exemption for your domestic partner or dependents. You must enclose proof of age such as a copy of a birth certificate, driver’s license, or church records the first time you claim the exemption(s). Line 8 – Blind or Disabled You can claim a $1,000 exemption if you were blind or disabled on the last day of the tax year. If you are filing jointly, your spouse can take a $1,000 exemption if they were blind or disabled on the last day of the tax year. You cannot claim this exemption for your domestic partner or dependents. You can claim a $1,500 exemption for each other dependent who qualifies as your dependent for federal tax purposes. Line 12 – Dependents Attending Colleges •• You must have paid one-half or more of the tuition and maintenance costs for the student. Financial aid received by the student is not calculated into your cost when totaling one-half of your dependent’s tuition and maintenance. However, the money earned by students in college work study programs is income and is taken into account. 2023 Form NJ-1040 Line 13 – Total Exemption Amount Add the amounts on lines 6 through 12 and enter the total. Add the amounts from the lines, not the numbers in the boxes. Line 14 – Dependent Information Enter the full name, Social Security number, and birth year for each dependent child or other dependent you claimed on line 10 or 11. Fill in the oval for each dependent who does not have health insurance coverage (including NJ Family Care/Medicaid, Medicare, private, or other health insurance) on the date you file the return. Enter the same Social Security number, individual taxpayer identification number (ITIN), or adoption taxpayer identification number (ATIN) for each dependent that you entered on your federal return. If you do not provide a valid Social Security number, ITIN, or ATIN for a dependent, the exemption will be denied. If you have more than four dependents, enter the information for your first four dependents on the lines provided. Enclose a statement listing the information for your additional dependents. Note: If you qualify for the New Jersey Earned Income Tax Credit (see instructions for line 58) and you listed a “qualifying child” on your federal Schedule EIC who is not claimed as your dependent for New Jersey purposes, you must enter the child’s name, Social Security number, and birth year. Income Lines 15–26 Gross income means all income you received in the form of money, goods, property, and services unless specifically exempt by law. You must report taxable income from everywhere, whether from inside or outside the State (worldwide). Report all income on the proper lines. For example, do not enter pension income on the wage line. Accounting Method. Use the same accounting method for New Jersey Income Tax that you used for federal income tax purposes. Income must be recognized and reported in the same period as it is recognized and reported for federal purposes. Reporting Losses. If you have a net loss in any category of income, remember the following: •• You cannot report a loss on your NJ-1040 (e.g., in parentheses or as a negative number); •• You can net losses with gains in the same category of income. For example, you can subtract gambling losses from gambling winnings during the tax year; •• You cannot apply a net loss in one category of income against income or gains in a different category on your NJ-1040. For example, you cannot subtract gambling losses from your wages; 7 •• If you have a net loss in any income category, make no entry on that line of your NJ-1040. Do not enter zero. Do not enter the amount of the loss in parentheses or as a negative number; •• No carryback or carryover of losses is allowed when reporting income on your NJ-1040. Income Taxed by Another Jurisdiction. If you have income that is taxed both by New Jersey and another jurisdiction outside New Jersey, you may be eligible for a credit against your New Jersey tax. (See instructions for line 44.) Examples of Taxable Income New Jersey taxable income includes: •• Wages and other compensation; •• Interest and dividends (including interest paid on income tax refunds); •• Earnings on nonqualified distributions from (1) qualified tuition program accounts or (2) qualified state 529A Achieving a Better Life Experience program (ABLE) accounts; •• Earnings on nonqualified distributions from NJBEST accounts, and any portion of the distributions that are attributable to contributions previously deducted on a New Jersey Income Tax return; •• Net profits from business, trade, or profession; •• Net gains or income from sale or disposition of property; •• Pensions, annuities, and IRA withdrawals; •• Net distributive share of partnership income; •• Net pro rata share of S corporation income; •• Net rental, royalty, and copyright income; •• Net gambling winnings, including New Jersey Lottery winnings from prize amounts over $10,000; •• Alimony; •• Estate and trust income; •• Income in respect of a decedent; •• Prizes and awards, including scholarships and fellowships (unless they satisfy the conditions on page 19); •• Value of residence provided by employer; •• Fees for services rendered, including jury duty. New Jersey taxable income also includes the following that are not subject to federal income tax: •• Interest from obligations of states and their political subdivisions, other than New Jersey and its political subdivisions; •• Income earned by a resident from foreign employment; •• Certain contributions to pensions and tax-deferred annuities; •• Employee contributions to federal Thrift Savings Funds, 403(b), 457, SEP, or any other type of retirement plan other than 401(k) Plans. 8 2023 Form NJ-1040 Examples of Exempt (Nontaxable) Income Do not include the following income when determining if you must file a return. These items should not appear anywhere on your form except for tax-exempt interest, which you report on line 16b. •• Federal Social Security •• Railroad Retirement (Tier 1 and Tier 2) •• United States military pensions and survivor’s benefit payments •• Life insurance proceeds received because of a person’s death •• Employee’s death benefits •• Permanent and total disability, including VA benefits •• Temporary disability received from the State of New Jersey or as third-party sick pay •• Workers’ Compensation •• Election worker compensation •• Gifts and inheritances •• Qualifying scholarships or fellowship grants •• New Jersey Lottery winnings from prizes in the amount of $10,000 or less •• Unemployment Compensation received from the state (but not supplemental unemployment benefit payments) •• Family Leave Insurance (FLI) benefits •• Interest and capital gains from (1) obligations of the State of New Jersey or any of its political subdivisions; or (2) direct federal obligations exempt under law, such as U.S. Savings Bonds and Treasury Bills, Notes, and Bonds •• Distributions paid by mutual funds to the extent the distributions are attributable to interest earned on federal obligations •• Certain distributions from New Jersey qualified investment funds •• Earnings on qualified distributions from (1) qualified tuition program accounts or (2) qualified state 529A Achieving a Better Life Experience program (ABLE) accounts •• Qualified distributions from NJBEST accounts •• Employer and employee contributions to 401(k) Plans up to the federal limit (but not federal Thrift Savings Funds) •• Some benefits received from certain employer-provided cafeteria plans (but not salary reduction or premium conversion plans). See Technical Bulletin TB-39. •• Benefits received from certain employer-provided commuter transportation benefit plans (but not salary reduction plans). See Technical Bulletin TB-24(R). •• Contributions to and distributions from Archer MSAs if they are excluded for federal income tax purposes •• Direct payments and benefits received under homeless persons assistance programs •• ANCHOR Benefits •• Homestead Benefits •• Senior Freeze (Property Tax Reimbursement) program benefits •• Income Tax refunds (New Jersey, federal, and other jurisdictions), but not interest paid on refunds •• New Jersey Earned Income Tax Credit payments •• Middle-Class Tax Rebates •• Paycheck Protection Program (PPP) loan amounts forgiven through the federal CARES Act or federal Paycheck Protection Program •• Economic Impact Payments (stimulus payments) •• Welfare •• Child support •• Amounts paid as reparations or restitution to Nazi Holocaust victims •• Assistance from a charitable organization, whether in the form of cash or property •• Cancellation of debt •• Amounts received as damages for wrongful imprisonment •• Qualified disaster relief payments excluded under IRC §139 •• Payments from the September 11th Victim Compensation Fund Line 15 – Wages, Salaries, Tips, etc. Enter the total of State wages, salaries, tips, bonuses, commissions, etc., from all employment both inside and outside New Jersey. Take the amount from box 16 of your W-2 (see sample on page 9). Include all payments whether in cash, benefits, or property. If you were employed outside New Jersey, you may need to adjust your wages to reflect New Jersey tax law. For example, if you had a Section 125 cafeteria plan that is taxable for New Jersey purposes but is not included in box 16 of your W-2, you must add that amount back into your State wages. Retirement Plans. Under New Jersey law, contributions to retirement plans (other than 401(k) Plans) are included in State wages on the W-2 in the year the wages are earned. This may cause your State wages (box 16) to be higher than your federal wages (box 1). Meals and/or Lodging. You can ex­clude meals and/or lodging reported as wages on your W-2 if: 1. The meals and/or lodging were provided on the business premises of your employer; and 2. The meals and/or lodging were provided for the convenience of your employer; and 2023 Form NJ-1040 For lodging only: 3. You were required to accept the lodging as a condition of your e­ mployment. If you exclude the value of meals and/or lodging from your wages, you must en­close a signed statement explaining how you met these conditions. If you do not enclose the statement, your wages will be changed back to the full amount shown on your W-2. New Jersey State Police officers cannot ex­clude food and maintenance payments received as part of their union contract. These pay­ments do not meet the criteria on page 8. Employee Business Expenses. Employee business expenses are not deductible for New Jersey tax purposes. However, you can exclude reimbursements for employee business expenses reported as wages on your W-2 if: 1. The reim­bursements are for job-related expenses; 2. You are required to and do account for these expenses to your employer; and 3. You are reimbursed by your employer in the exact amount of the allowable expenses. If you received excludable reimbursements for employee business expenses that were included in wages on your W-2, en­ close a statement explaining the amount you are excluding and your reasons. Also, enclose a copy of your federal Form 2106. 9 Federal Statutory Employees. If you are considered a “statutory employee” for federal tax purposes, you cannot deduct your business expenses unless you are self-employed or an independent contractor under New Jersey law. The federal label of “statutory employee” has no meaning for New Jersey tax purposes. Business expenses can only be deducted from the business in­come of a self-employed individual. See the instructions for Schedule NJ-BUS-1, Part I (Net Profits From ­Business) on page 16. Moving Expenses. Moving expenses are not deductible for New Jersey Income Tax purposes. You can, however, exclude reimbursements for the following moving expenses if you met the federal require­ments to claim moving expenses that were in effect on December 31, 2017, and the expenses were included in wages on your W-2: 1. The cost of moving your household goods and personal effects from the old home to the new home. 2. The actual expenses you incurred for traveling, meals, and lodging when moving yourself and your family from your old home to your new home. Reimbursements for any other moving expense cannot be excluded from i­ncome. If you received excludable reimbursements for moving expenses that were included in wages on your W-2, enclose a statement explaining the amount you are excluding and your reasons. Sample W-2 (This form is for illustration only and is not reproducible.) 2 2 2 2 2 Void a Employee’s social security number For Official Use Only  OMB No. 1545-0008 b Employer identification number (EIN) 1 Wages, tips, other compensation 2 Federal income tax withheld c Employer’s name, address, and ZIP code 3 Social security wages 4 Social security tax withheld 5 Medicare wages and tips 6 Medicare tax withheld 8 Allocated tips 7 Social security tips 9 d Control Number 9 e Employee’s first name and initial Last name 11 10 Dependent care benefits Nonqualified plans 12a See instructions for box 12 13 Statutory employee Retirement plan Third-party sick pay 12b 14 Other 12c UI/WF/SWF - $174.68 DI - $0.00 12d DI P.P. #(Private Plan No.) f Employee’s address and ZIP code 15 State NJ Employer’s state ID number 16 State wages, tips, etc. 234-567-890/000 142,900.00 FLI P.P. # (Private Plan No.) Wage and Tax Statement Form W-2 17 State income tax 18 Local wages, tips, etc. 6,977.00 19 Local income tax 20 Locality name 94.08 - FLI 2023 Department of the Treasury—Internal Revenue Service For Privacy Act and Paperwork Reduction Act Notice, see the separate instructions. 2023 Form NJ-1040 10 Compensation for Injuries or Sickness. Certain amounts received for personal injuries or sickness are not subject to tax. You can exclude such amounts included as wages on your W-2 if: 1. The payments were compensation for wage loss that resulted from absence due to your injury or sickness; and 2. The payments were due and pay­able under an enforceable contractual obligation under the plan; and 3. The payments were not related to sick leave wage continuation, which is largely discretionary and payments are made regardless of the reason for absence from work. If such payments are included in wages on your W‑2, enclose Form NJ‑2440. You must enclose all W-2s with your tax return. Do not attach them to your return. If you paid taxes to another jurisdiction on wages entered on this line, see the instructions for line 44. Part-Year Residents. You must determine from each W-2 the portion of your “State wages, tips, etc.” (box 16) that you earned while you were a New Jersey resident. If your W-2 includes only wages you earned while you were a resident, use the amount from box 16. If your employer did not separate your resident and nonresident wages on the W-2, you must apportion the amount in box 16 according to the time you lived in New Jersey. Include only the actual amount you earned while you were a resident. If the total amount reported on a W-2 is for income from an out-of-State source while you were a nonresident, do not include that income on your resident return. Line 16a – Taxable Interest Income Enter all of your taxable interest from sources both inside and outside New Jersey. Common sources of taxable interest: •• Banks; •• Savings and loan associations; •• Credit unions; •• Savings accounts; •• Checking accounts; •• Bonds and notes; •• Certificate of deposit; •• Life insurance dividends; •• Earnings on nonqualified distributions from qualified tuition program accounts including NJBEST (New Jersey Better Educational Savings Trust program) accounts; •• Earnings on nonqualified distributions from qualified state 529A ABLE (Achieving a Better Life Experience) accounts; •• Distributions from Coverdell education savings accounts (ESAs), but only the earnings portion; •• Ginnie Maes, Fannie Maes, Freddie Macs; •• Repurchase agreements; •• Obligations of states and their political subdivisions, other than New Jersey; •• Grantor trusts; •• Any other interest not specifically exempt. Do not include on this line: •• Interest that was earned and paid to a sole proprietorship, a partnership, or an S corporation. Report on Schedule NJ-BUS-1. Note: If you received a Form 1099 from a partnership or an S corporation for interest paid or deemed to have been paid to you, you must include that interest on line 16a; •• Interest that was earned and paid to an estate or trust (other than a grantor trust). Report on line 26. Forfeiture Penalty for Early Withdrawal. If you incur a penalty by withdrawing a time deposit early, you can subtract the amount of the penalty from your interest income. If line 16a is more than $1,500, enclose a copy of Schedule B, federal Form 1040. Part-Year Residents. Include only the interest you received while you were a resident of New Jersey. Line 16b – Tax-Exempt Interest Income Enter all of your tax-exempt interest, including the exempt portion of a distribution from a New Jersey qualified investment fund. Do not include interest earned on your IRA(s) on this line. If you made a withdrawal from your IRA, see the instructions for lines 20a and 20b. For more information on tax-exempt interest income and New Jersey qualified investment funds, see GIT-5, Nontaxable Investment Income. If line 16b is more than $10,000, you must enclose a listing of the amount received from each source. If the total of lines 16a and 16b is different from the federal interest total, enclose a statement explaining the difference. Part-Year Residents. Include only the interest you received while you were a resident of New Jersey. 2023 Form NJ-1040 Line 17 – Dividends Enter the dividends you received from investments (e.g., from stocks, mutual funds) or other income-producing activities that do not constitute a trade or business. The total taxable dividends received, regardless of where earned, must be reported. Taxpayers, including partners in a partnership and shareholders of an S corporation, report global intangible low-taxed income (GILTI) as dividend income when the income is actually distributed from earnings and profits. See “IRC §951A: Reporting and Payment/Pass-through Entities” at nj.gov/treasury/ taxation/TCJA.shtml for more information. Do not include on this line: •• Dividends that were earned and paid to a sole proprietorship, a partnership, or an S corporation. Report on Schedule NJ-BUS-1. For more information on reporting partnership or S corporation income, see GIT-9P, Partnership Income, or GIT-9S, Income From S Corporations; •• Dividends that were earned and paid to an estate or trust (other than a grantor trust). Report on line 26. Capital Gains Distributions. Do not report capital gains distributions you received from mutual funds or other regulated investment companies on this line. Report this income on line 2, Schedule NJ-DOP. Tax-Free Distributions. A distribution that is a return of your investment or capital and does not come from earnings or profits is a nontaxable capital or tax-free distribution. These distributions reduce the basis of the stock or investment and are not taxable until your investment is fully recovered. 11 Insurance Premiums. Dividends you received from insurance companies are not taxable unless the amount you received is more than the premiums paid. Any interest from accumulated insurance dividends is taxable, and you must report it on line 16a. Part-Year Residents. Include only the dividends you received while you were a resident of New Jersey. Line 18 – Net Profits From Business Complete Part I of Schedule NJ-BUS-1 and enter on line 18 the amount from line 4 of Part I. If the amount on line 4 is a loss, make no entry on line 18. See instructions on page 16. Enclose Schedule NJ-BUS-1 and a copy of the federal Schedule C (or C-EZ or F) for each business with your return. Line 19 – Net Gains or Income From Disposition of Property Complete Schedule NJ-DOP and enter the amount from line 4. If the amount on line 4 is a loss, make no entry on line 19. Do not include on Schedule NJ-DOP: •• Gains/losses from the disposition of property owned by a sole proprietorship, a partnership, or an S corporation. Report on Schedule NJ-BUS-1; •• Gains/losses from the disposition of property owned by an estate or trust (other than a grantor trust). Report on line 26. Enclose Schedule NJ-DOP with your return. Schedule NJ-DOP Net Gains or Income From Disposition of Property Report your capital gains and income from the sale or exchange of property. You can deduct the expenses of the sale and your basis in the property from the sales price. In general, when calculating your gain or loss, you will use the cost or adjusted basis that you used for federal purposes. However, in certain situations, you may use a different basis. • Sale of interest in a partnership, a sole proprietorship, or rental property. You may be required to use a New Jersey adjusted basis. • Sale of S corporation shares. You must use your New Jersey adjusted basis. Sale of Principal Residence (Main Home). Capital gain is calculated the same way as for federal purposes. Any amount that is taxable for federal purposes is taxable for New Jersey purposes. Visit the IRS website at irs.gov for more information on reporting capital gains from the sale of a main home. Installment Sales. You must report all gains from installment sales in the same year as they are reported for federal purposes. If the New Jersey basis is different from the federal basis, you must make a New Jersey installment sale calculation and report the New Jersey gain. 12 2023 Form NJ-1040 Depreciation and Expense Deduction. New Jersey and federal depreciation and expense deduction limits are different. A New Jersey depreciation adjustment may be required for assets placed in service on or after January 1, 2004. Complete the Gross Income Tax Depreciation Adjustment Worksheet GIT-DEP to calculate the adjustment. Complete Liquidation. If you had an interest in a partnership, sole proprietorship, or S corporation that sold or disposed of virtually all of its assets in conjunction with the complete liquidation of the entity, you must report your portion of the gain or loss from the sale or disposition of those assets. Line 1: List of Transactions List any New Jersey taxable transaction(s) as reported on your federal Schedule D, indicating the gain or loss for each transaction in column f. In listing the gain or loss on disposition of rental property, you must take into consideration the New Jersey adjustment from Worksheet GIT-DEP, Part I, line 6. Do not include gains or losses from the sale of exempt obligations. See GIT-5, Nontaxable Investment Income. There is no distinction between active and passive losses for New Jersey purposes. You cannot carry back or carry forward such losses when reporting income on Form NJ-1040. You can deduct federal passive losses in full in the year incurred against any gain within the same category of income, but only in the year that it occurred. Line 2: Capital Gains Distributions Enter your capital gains distributions from Form 1099-DIV(s) or similar statement(s). Do not include capital gains from a New Jersey Qualified Investment Fund that are attributable to qualified exempt obligations or gains from mutual funds to the extent attributable to federal obligations. For more information on New Jersey qualified investment funds, see GIT-5, Nontaxable Investment Income. Line 3: Other Net Gains Enter the net gains or income less net losses from disposition of property not included on lines 1 or 2 of Schedule NJ-DOP. Line 4: Net Gains Enter the total of the amounts listed on line 1, column f and lines 2 and 3, netting gains with losses. Enter this amount on line 19, Form NJ-1040. If the netted amount is a loss, enter zero here and make no entry on line 19, Form NJ‑1040. Part-Year Residents. Include only the amounts you received while you were a resident of New Jersey. Line 20a – Taxable Pension, Annuity, and IRA Distributions/Withdrawals Retirement income such as pensions, annuities, and certain IRA withdrawals is taxable in New Jersey. The New Jersey taxable amount may be different from the federal amount. Enter the taxable portion on line 20a. Common types of taxable retirement income: •• Pensions from the private sector; •• Federal, state, and local government, and teachers’ pensions; •• Keogh Plan distributions; •• 401(k) Plan distributions; •• Early retirement benefits; •• Amounts reported as pension on Schedule NJK-1, Partnership Return Form NJ-1065; •• Civil Service pensions and annuities, even if based on credit for military service. These are received from the U.S. Office of Personnel Management. Common types of nontaxable retirement income (do not report on this return): •• Social Security benefits; •• Railroad Retirement benefits; •• Public or private disability pension benefits until the year you turn 65. Beginning with the year you turn 65, the benefits are treated as ordinary pension income; •• U.S. Military pensions and survivor’s benefit payments. (Most are received from the U.S. Department of Finance and Accounting Service.) Part-Year Residents. Include only the taxable amounts you received while you were a resident of New Jersey. Types of Retirement Plans Retirement plans are either noncontributory or contributory. Noncontributory. You made no contributions to your plan. Amounts you receive from these plans are fully taxable. Enter the amount from your 1099-R on line 20a. 2023 Form NJ-1040 Contributory (Other Than IRAs). You made contributions to your plan. Contributions are usually made through payroll deductions and, in general, are taxed when they are made. Contributions made to a retirement plan (other than a 401(k) Plan) prior to moving to New Jersey are considered to have been previously taxed. These plans also may include employer contributions and earnings, which have not been taxed. Since you have already been taxed on your contributions, you must determine which portion of your distribution is taxable and which is excludable. There are two methods of calculating the taxable and excludable amounts: Three-Year Rule Method and General Rule Method. To determine which method to use, complete Worksheet A below the year you begin receiving pension and annuity payments. Note: If you received a distribution from a 401(k) Plan, do not complete Worksheet A. See the section on 401(k) Plans on page 15. If you made a withdrawal from an IRA, do not complete Worksheet A or B. Instead, complete Worksheet C. See the section on IRAs on page 15. 13 Three-Year Rule Method. Use this method if you will recover all your contributions within 36 months from the date you receive your first payment from the plan, and both you and your employer contributed to the plan. Do not report pension and annuity payments as income on line 20a until you have recovered all of your contributions. Instead, report these amounts on line 20b. Once you have recovered your contributions, the payments you receive are fully taxable and must be reported on line 20a. General Rule Method. You must use this method if you will not recover your contributions within 36 months from the date you receive your first payment from the plan or if your employer did not contribute to the plan. Part of your pension is excludable and part is taxable every year. The excludable amount represents your contributions. Complete Worksheet B in the year you receive your first payment from the plan and keep it for your records. You will need it for calculations in future years. Recalculate the percentage on line 3 of Worksheet B only if your annual pension payments decrease. Worksheet A Which Pension Method to Use 1. Amount of pension you will receive during the first three years (36 months) from the date of the first payment ............................................................................................................................ 1. _____________ 2. Your contributions to the plan . ....................................................................................................................... 2. _____________ 3. Subtract line 2 from line 1 .............................................................................................................................. 3. _____________ (a) If line 3 is “0” or more, and both you and your employer contributed to the plan, you can use the Three-Year Rule Method. (b) If line 3 is less than “0,” or your employer did not contribute to the plan, you must use the General Rule Method. (Keep for your records) Worksheet B General Rule Method 1. Your previously taxed contributions to the plan ............................................................................................. 2. Expected return on contract* .......................................................................................................................... 3. Percentage excludable (Divide line 1 by line 2) ............................................................................................. 4. Amount received this year .............................................................................................................................. 5. Amount excludable (Multiply line 4 by line 3) Enter here and on line 20b, Form NJ-1040 ..................................................................................................... 6. Taxable amount (Subtract line 5 from line 4. Enter here and on line 20a, Form NJ-1040) . .................................................................................................. 1. _____________ 2. _____________ 3. _____________% 4. _____________ 5. _____________ 6. _____________ *The expected return on the contract is the amount receivable. If life expectancy is a factor under your plan, you must use federal actuarial tables to calculate the expected return. The federal actuarial tables are contained in the Internal Revenue Service’s Publication 939, General Rule for Pensions and Annuities. Contact the IRS for this publication. If life expectancy is not a factor under your plan, the expected return is found by totaling the amounts to be received. (Keep for your records) 14 2023 Form NJ-1040 Worksheet C IRA Withdrawals Part I – Calculating Taxable and Excludable Amounts 1. Value of IRA on 12/31/23. Include contributions made for the tax year from 1/1/24 – 4/15/24.....................................1. _ _______________________ 2. Total distributions from IRA during the tax year. Do not include tax-free rollovers...... 2. _ _______________________ 3. Total Value of IRA. Add lines 1 and 2................................................................................3. _ _______________________ Unrecovered Contributions: Complete either line 4a or 4b. Then continue with line 5. 4a. First year of withdrawal from IRA: Enter the total of IRA contributions that were previously taxed..........................................4a. _ _______________________ 4b. After first year of withdrawal from IRA: Complete Part II. Enter amount of unrecovered contributions from line 15..........................4b. _ _______________________ 5. Accumulated earnings in IRA on 12/31/23. Subtract either line 4a or 4b from line 3. ............................................................................5. _ _______________________ 6. Divide line 5 by line 3. (Enter the result as a decimal.).......................................................6. _ _______________________ 7. Taxable portion of this year’s withdrawal. Multiply line 2 by decimal amount on line 6. Enter here and on line 20a, Form NJ-1040...............................................................7. _ _______________________ 8. Excludable portion of this year’s withdrawal. Subtract line 7 from line 2. Enter here and on line 20b, Form NJ-1040....................................................................................8. _ _______________________ Part II – Unrecovered Contributions (For Second and Later Years) See Part III if you did not complete Worksheet C in prior years. 9. Last year’s unrecovered contributions. From line 4 of last year’s Worksheet C.............9. _ _______________________ 10. Amount withdrawn last year. From line 2 of last year’s Worksheet C.............................10. _ _______________________ 11. Taxable portion of last year’s withdrawal. From line 7 of last year’s Worksheet C......... 11. _ _______________________ 12. Contributions recovered last year. Subtract line 11 from line 10.....................................12. _ _______________________ 13. This year’s unrecovered contributions. Subtract line 12 from line 9...............................13. _ _______________________ 14. Contributions to IRA during current tax year. Do not include tax-free rollovers..........14. _ _______________________ 15. Total unrecovered contributions. Add lines 13 and 14. Enter here and on line 4b..........15. _ _______________________ Part III – Unrecovered Contributions (For Second and Later Years) Complete this section only if you did not complete Worksheet C in prior years. Calculate the amount of unrecovered contributions as follows: 16. Total amount of withdrawals made from the IRA in previous years..................................16. _ _______________________ 17. Total of previous year withdrawal(s) already reported as income on prior New Jersey tax returns.........................................................................................................17. _ _______________________ 18. Contributions already recovered. Subtract line 17 from line 16..........................................18. _ _______________________ 19. Unrecovered contributions. Subtract line 18 from the total amount of contributions made to the IRA. Enter here and on line 4b..................................................19. _ _______________________ (Keep for your records) 2023 Form NJ-1040 Lump-Sum Distributions and Rollovers When you receive a lump-sum distribution of the entire balance from a qualified employee pension, annuity, profitsharing, or other plan, any amount that exceeds your previously taxed contributions must be included in your income in the year received. New Jersey has no provision for income averaging of lump-sum distributions. Report the taxable amount on line 20a and the excludable amount on line 20b. If you roll over a lump-sum distribution from an IRA or a qualified employee pension or annuity plan into an IRA or other eligible plan, do not report the rollover on line 20a or 20b if it qualifies for deferral for federal tax purposes. The amount rolled over (minus previously taxed contributions) will be taxable when it is withdrawn. 401(k) Plans 1. Contributions made on or after January 1, 1984, were not taxed when they were made. If all of your contributions were made on or after that date, your distributions are fully taxable unless your contributions exceed the federal limit. If your contributions exceed the federal limit, you must calculate the taxable and excludable portions of your distributions using one of the methods described under contributory plans. 2. Contributions made before January 1, 1984, were taxed when they were made. If you made contributions before that date, you must calculate the taxable and excludable portions of your distributions using one of the methods described under contributory plans. For more information on pension and annuity income, see GIT-1 & 2, Retirement Income. IRAs Your IRA consists of contributions, earnings, and certain amounts rolled over from pension plans. In general, your contributions were taxed when they were made and are not taxable when you make a withdrawal. All the earnings and any amounts rolled over tax-free are taxable when withdrawn. Use Worksheet C to calculate the taxable and excludable portions of your IRA withdrawal. If you made withdrawals from multiple IRAs, you can use a separate worksheet for each or combine all IRAs on one worksheet. Lump-Sum Withdrawal. If you withdraw the total amount from an IRA, all the earnings and any amounts rolled over taxfree are taxable. You must report these amounts in the year you make the withdrawal. Periodic Withdrawals. If you make withdrawals over a period of years, the part of the annual distribution that represents earnings is taxable. The amount taxable for New Jersey purposes may be different from the amount you report on your federal return. 15 For more information on IRA withdrawals, see GIT-1 & 2, Retirement Income. Roth IRAs Your contributions to a Roth IRA were taxed by New Jersey when they were made. Distributions from a Roth IRA that meet the requirements of a qualified distribution are excludable. Do not include qualified distributions on Form NJ-1040. If you received a nonqualified distribution, you must report the earnings on line 20a, and report the excludable portion on line 20b. A distribution that is considered nonqualified for federal purposes is also considered nonqualified for New Jersey purposes. If you converted an existing IRA to a rollover Roth IRA during Tax Year 2023, any amount from the existing IRA that would be taxable if withdrawn must be included on line 20a. For more information on Roth IRAs, see Technical Bulletin TB-44. Line 20b – Excludable Pension, Annuity, and IRA Distributions/Withdrawals Enter the excludable portion of any distribution you received from a contributory pension, annuity, or IRA. This is the portion of the total distribution that was not reported on line 20a. This amount represents your previously taxed contributions. Three-Year Rule Method. Include the full amount received until you have recovered all of your contributions. General Rule Method. Include the amount from Worksheet B, line 5. IRA withdrawal. Include the amount from Worksheet C, line 8. If you converted an existing IRA to a rollover Roth IRA, report the excludable portion on this line. Lump-Sum Distribution. If you received a lump-sum distribution from a pension, annuity, or IRA, report the excludable portion on this line. For more information, see GIT-1 & 2, Retirement Income. Part-Year Residents. Include only the amounts you received while you were a resident of New Jersey. Line 21 – Distributive Share of Partnership Income Complete Part II of Schedule NJ-BUS-1 and enter on line 21 the amount from line 4 of Part II. If the amount on line 4 is a loss, make no entry on line 21. See instructions on page 17. Enclose Schedule NJ-BUS-1 and a copy of Schedule NJK-1, Form NJ-1065, for each partnership with your return. If you did not 2023 Form NJ-1040 16 receive a Schedule NJK-1, enclose a copy of the federal Schedule K-1. S corporation with your return. If you did not receive a Schedule NJ-K-1, enclose a copy of the federal Schedule K-1. Line 22 – Net Pro Rata Share of S Corporation Income Line 23 – Net Gains or Income From Rents, Royalties, Patents, and Copyrights Complete Part III of Schedule NJ-BUS-1 and enter on line 22 the amount from line 4 of Part III. If the amount on line 4 is a loss, make no entry on line 22. See instructions on page 17. Complete Part IV of Schedule NJ-BUS-1 and enter on line 23 the amount from line 4 of Part IV. If the net amount is a loss, make no entry on line 23. See instructions on page 18. Enclose Schedule NJ-BUS-1 and a copy of Schedule NJ-K-1, Form CBT-100S, for each Enclose Schedule NJ-BUS-1 with your return. Schedule NJ-BUS-1 Business Income Summary Schedule Part I – Net Profits From Business Report the net profits or loss from your business, trade, or profession. Make the following adjustments to your federal Schedule C (or C-EZ or F): 1. Add any amount you deducted for taxes based on income; 2. Subtract interest you reported on federal Schedule C (or C-EZ or F) that is exempt for New Jersey purposes but taxable for federal purposes; 3. Add interest not reported on federal Schedule C (or C-EZ or F) from states or political subdivisions outside New Jersey that is exempt for federal purposes; 4. Deduct meal and entertainment expenses that constitute ordinary expenses incurred in the conduct of a trade or business but that were not allowed on the federal return; 5. Deduct your qualified contributions to a self-employed 401(k) Plan. Contributions that exceeded the federal limits are not deductible for New Jersey purposes; 6. Add interest and dividends derived in the conduct of a trade or business; 7. Add or subtract income or losses derived in the conduct of a trade or business from rentals, royalties, patents, or copyrights; 8. Add or subtract gains or losses from the sale, exchange, or other disposition of the trade or business’s property; 9. Add or subtract the net adjustment from the Gross Income Tax Depreciation Adjustment Worksheet GIT-DEP, Part I, line 7; 10. Cannabis licensees: Deduct expenses that would have been eligible to be claimed as a deduction for federal purposes but were disallowed because cannabis is a controlled substance under federal law. If you are a sole proprietor who provides primary care services in a qualified medical or dental practice you own that is located in or within five miles of a designated Health Enterprise Zone (HEZ), you may be able to deduct a percentage of the net income from that practice on line 34. See Technical Bulletin TB-56 for eligibility requirements and instructions for calculating the HEZ deduction. Lines 1–3 For each business, enter the following information. If you need more space, enclose a statement with the return listing any additional businesses and the related profit or loss. •• Business name as listed on Schedule C, C-EZ, or F •• Social Security number or federal employer identification number (EIN) •• Profit or (loss) as adjusted for New Jersey purposes 2023 Form NJ-1040 17 Line 4 Add the amounts in the Profit or (Loss) column and enter the total on line 4, netting profits with losses. Enter this amount on line 18, Form NJ-1040. If the netted amount i
Extracted from PDF file 2023-new-jersey-individual-tax-instructions.pdf, last modified January 2024

More about the New Jersey Individual Tax Instructions Individual Income Tax TY 2023

If you need to file Form NJ-1040, reference this booklet to help you fill out and file your taxes. Individual Tax Instructions requires you to list multiple forms of income, such as wages, interest, or alimony .

We last updated the Form NJ-1040 Instructions in January 2024, so this is the latest version of Individual Tax Instructions, fully updated for tax year 2023. You can download or print current or past-year PDFs of Individual Tax Instructions directly from TaxFormFinder. You can print other New Jersey tax forms here.

Other New Jersey Individual Income Tax Forms:

TaxFormFinder has an additional 95 New Jersey income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form NJ-1040-ES Estimated Tax Voucher
Individual Tax Instructions Form NJ-1040 Instructions
Form NJ-1040 Individual Income Tax Return
Estimated Tax Instructions Form NJ-1040-ES Instructions
Form NJ-630 Application for Extension of Time to File NJ GIT Return

Download all NJ tax forms View all 96 New Jersey Income Tax Forms


Form Sources:

New Jersey usually releases forms for the current tax year between January and April. We last updated New Jersey Individual Tax Instructions from the Division of Revenue in January 2024.

Show Sources >

About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of New Jersey Individual Tax Instructions

We have a total of nine past-year versions of Individual Tax Instructions in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Individual Tax Instructions

2023 NJ-1040 Instructions

2022 Individual Tax Instructions

2022 Instructions for the NJ-1040

2021 Individual Tax Instructions

Instructions for the 2021 NJ-1040

2020 Individual Tax Instructions

Instructions for the 2020 NJ-1040

2019 Individual Tax Instructions

Instructions for the 2019 NJ-1040

2018 Individual Tax Instructions

Instructions for the NJ-1040

2017 Individual Tax Instructions

NJ-1040 - New Jersey Resident Income Tax Return Instructions

2016 Individual Tax Instructions

Instructions for the NJ-1040

Instructions for the NJ-1040 2015 Individual Tax Instructions

Instructions for the NJ-1040


TaxFormFinder Disclaimer:

While we do our best to keep our list of New Jersey Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.

** This Document Provided By TaxFormFinder.org **
Source: http://www.taxformfinder.org/newjersey/individual-tax-instructions