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March 18, 2025
Question

Turbotax deduct on CD early withdraw penalty on the NJ state income.

  • March 18, 2025
  • 0 replies
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I see on my generated NJ 1040 line 16 a for total interest is a bit less than the total interest list in Federal 1040. The difference seems like NJ 1040 is display value that total - early withdraw penalty CD fee. My understand is that for Federal, this is deductible, but NJ State it should not. Can someone please advise on it?