401 rollover to 403b taxable by nj

The amount will be taxable upon withdrawal.

If you rollover a lump-sum distribution into another traditional IRA or other eligible plan, do not report the rollover on your New Jersey return if the rollover qualifies for deferral for federal tax purposes.

However, because you are rolling over never taxed money [401(k)] into a 403(b) plan, your 401(k) amount will be taxable upon withdrawal from your 403(b) account.

It is similar to this case: However, any amounts you roll over from a traditional IRA to a Roth IRA that were not previously taxed by New Jersey - such as a rollover distribution to an IRA from an employer’s 401(k) plan must be included in your New Jersey income in the year the funds are withdrawn from the traditional IRA.

Related Resources:

• Tax Topic Bulletin GIT-2 IRA Withdrawals