Question

Is gross income same as adjusted gross income?

Forum|Forum|7 years ago
June 6, 2019
1 reply
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The filing treshold for NJ state income tax return for a single is "$10 000 gross income for the entire year from everywhere". I'm a NJ resident and my ONLY income is from a rental property in FL making $18700 in rent, with net profit $5740. My adjusted gross income is $6450. Do I need to file NJ state taxes? Which number do I use to determine if I need to file state taxes at all? ( $18700 or $6450?) I was told I don't need to file FL state taxes since Florida doesn't have an income tax.

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Irene2805

No - gross income is all your income, before any deductions. Your adjusted gross income (AGI) is equal to your gross income minus any eligible adjustments that you may qualify for.

Since you gross income is $18,700, over the $10,000 threshold, you must file a NJ return.