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March 4, 2024
Question

1st co.W2 Fedrl tax; state - NJ.W2 STATE -NY. 2/3 rd year. W2 in 2nd co.1/3rd year shows State and Fed as NJ. I did as NJ It imported all NY tax in NJ filing.How todo?

  • March 4, 2024
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first company worked as contractor. 2nd company as new company.. Should I file NY and NJ state separately along with Federal returns. or just do NJ state with Federal taxes.

1 reply

DMarkM1
March 4, 2024

From your post it appears you lived in NJ all year and worked in NY for 2/3 of year.  If my reading is correct you would file a resident NJ return with all income as your resident state taxes income no matter where it is earned.  You also file a NY non-resident return allocating to NY only the income earned in NY.  That sets up double taxation on that NY income but NJ offers a credit for taxes paid to another state to help mitigate that double taxation.  

 

You should work the NY non-resident return first and take note of the income taxed and the NY tax liability.  Those numbers are carried to your NJ resident return to calculate the credit for taxes paid to another state.  

 

Both of the state returns can be filed with TurboTax along with your federal return.  

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