Question

NJ Return - 4a & 4b IRA contributions

Forum|Forum|4 years ago
April 3, 2022
1 reply
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I have read previous posts about New Jersey tax return Ira contributions previously taxed 4a & 4b. The responses are not answering my question and this is confusing to me on many levels. I took out a disaster relief distribution (cares act) from my employer's 401K plan in 2020, which is also partly a Roth account. I opted to pay the taxes on this distribution over 3 years, 2021 return being my 2nd tax payment. Also in 2021 I took a distribution from an Ira that was left to me by my father. The federal income tax was withheld from the distribution, however, not the state. That being said, how do I calculate the total of Ira contributions previously taxed? Please keep in mind that I have not contributed to the IRA left to me, only to my employer's 401k plan. So how would I determine this number?

TurboTax Deluxe Online

E

ErnieS0

A 401(k) is not an IRA. You would not fill out the IRA worksheet for a withdrawal from a 401(k) plan. A 401(k) Roth is not a Roth IRA. It's a Roth within a 401(k) plan.

If you are 62 or older you may qualify for the other retirement income exclusion.

Retirement Income Exclusions

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K

KrysieAuthor

I understand that an IRA is not a 401k. However, TT kept prompting me to include 4a and/or 4b untaxed contributions and when I put in $0, since I haven't made any contributions, TT is telling me to fix it. I requested Live help from TT and we were able to fix it.