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Why is Turbo tax giving me a $20,000.00 exclusion on my N.J. tax return?
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Because you are 62 or older! (well, I'm assuming)
That's one of very few tax breaks with the State of New Jersey.
http://www.state.nj.us/treasury/taxation/njit7.shtml
It's automatic if you have qualified retirement income. Is there any reason you don't think you should have this exclusion?
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