Question

StateTax

Forum|Forum|5 years ago
January 26, 2021
2 replies
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I live in NJ State. I am retired and receive pension from NYC the place where I used to work and retired from 4 years ago. Do my pension from NYC considered as income in NJ?

Thanks for your help.

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E

ErnieS0

Yes. If you live in New Jersey, then all your income is taxable to NJ including your NYC pension.

NJ also has a pension exclusion. You qualify if:

if you were 62 or older or disabled as defined by Social Security guidelines on the last day of the tax year (December 31 for calendar year filers); and
your total income for the entire year was $100,000 or less.

Married couples can exclude $100,000 in pension income ($50,000 if married filing separate). Single and head of household filers can exclude $75,000.

To learn more see NJ Income Tax – Income Exclusions.

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E

ErnieS0

Yes. If you live in New Jersey, then all your income is taxable to NJ including your NYC pension.

NJ also has a pension exclusion. You qualify if:

if you were 62 or older or disabled as defined by Social Security guidelines on the last day of the tax year (December 31 for calendar year filers); and
your total income for the entire year was $100,000 or less.

Married couples can exclude $100,000 in pension income ($50,000 if married filing separate). Single and head of household filers can exclude $75,000.

Learn more at NJ Income Tax - Income Exclusions.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"