New Jersey CREDIT FOR INCOME OR WAGE TAXES PAID TO OTHER JURISDICTIONS

CREDIT FOR INCOME OR WAGE TAXES PAID TO OTHER JURISDICTIONS
Schedules A & B - NJ 1040
SCHEDULES

A&B

2017

NEW JERSEY GROSS INCOME TAX

(Form NJ-1040)
Name(s) as shown on Form NJ-1040

Schedule A

Your Social Security Number

If you are claiming a credit for income taxes paid to more than one jurisdiction,
a separate Schedule A must be enclosed for each. See instructions page 40.

CREDIT FOR INCOME OR WAGE TAXES
PAID TO OTHER JURISDICTION

A COPY OF OTHER STATE OR POLITICAL SUBDIVISION TAX RETURN MUST BE RETAINED WITH YOUR RECORDS
1.

Income properly taxed by both New Jersey and other jurisdiction
during tax year. See instructions page 40. (Indicate jurisdiction name____________________________________)
(DO NOT combine the same income taxed by more than one jurisdiction)
(The amount on Line 1 cannot exceed the amount shown on Line 2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

1.

2.

Income subject to tax by New Jersey (From Line 28, Form NJ-1040) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2.

3.

Maximum Allowable Credit Percentage
(Divide Line 2 into Line 1)

3.

1_____________
2

IF YOU ARE NOT ELIGIBLE FOR A PROPERTY TAX BENEFIT, ONLY COMPLETE COLUMN B.

4.

Taxable Income (after Exemptions and Deductions) from Line 36, Form NJ-1040

5.

Property Tax
Enter in Box 5a the amount from Worksheet G,
and Deduction line 1. See instructions page 34.
5a.
Property Tax Deduction. Enter the amount from Worksheet G, line 2.
See instructions page 35.

COLUMN A

COLUMN B

4.

4.

5.

5.

6.

New Jersey Taxable Income (Line 4 minus Line 5)

6.

6.

7.

Tax on Line 6 amount (From Tax Table or Tax Rate Schedules)

7.

7.

8.
9.

Allowable Credit (Line 3 times Line 7)

8.

8.

9.

9.

Credit for
Taxes Paid to
Other
Jurisdiction

Enter in Box 9a the income or wage
tax paid to other jurisdiction during
tax year on income shown on Line 1.
See instructions page 43.

%

-0-

9a.

Credit allowed. (Enter lesser of Line 8 or Box 9a). (The credit
may not exceed your New Jersey tax on Line 40).

• If you are not eligible for a Property Tax benefit, enter the amount from Line 9, Column B, on Line 41, Form NJ-1040. Make no entry on Lines 38
or 49, Form NJ-1040.
• If you are eligible for a Property Tax benefit, you must complete Worksheet J on page 43 to determine whether you receive a greater benefit by
claiming a Property Tax Deduction or taking the Property Tax Credit.

Schedule B
1.

NET GAINS OR INCOME FROM
DISPOSITION OF PROPERTY

a. Kind of property and
description

b. Date
acquired
(Mo., day, yr.)

List the net gains or income, less net loss, derived from the sale, exchange, or other
disposition of property including real or personal whether tangible or intangible.
c. Date sold (Mo.,
day, yr.)

d. Gross
sales
price

e.Cost or other basis
as adjusted
(see instructions)
and expense of sale

f. Gain or
(loss)
(d less e)

2.

Capital Gains Distributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2.

3.

Other Net Gains . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3.

4.

Net Gains (Add Lines 1, 2, and 3) (Enter here and on Line 18. If loss enter ZERO here and make no entry on Line 18)

4.