Yes, but to qualify for the exclusion, the taxpayer must:Be age 62 or older on 12/31/2020, or be considered disabled under Social Security guidelines; andHave a 2020 gross household income of no more than $100,000.TT handles this automatically, so be sure your Date of Birth is correct.

Question

Can I take NJ retirement income exclusion if I don't have pension, IRA or Annuity income?

Forum|Forum|5 years ago
February 23, 2021
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S

SweetieJean

Employee

Yes, but to qualify for the exclusion, the taxpayer must:

Be age 62 or older on 12/31/2020, or be considered disabled under Social Security guidelines; and
Have a 2020 gross household income of no more than $100,000.

TT handles this automatically, so be sure your Date of Birth is correct.