MAC222
Level 1
03-02-2021
12:24 PM
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NJ does not recognize the the 3 year deferral on a Covid withdrawal from a pension plan. How do you get the NJ return to tax the full amount when you are only recognizing 1/3 of it on the federal return.
I tried State amount if different, but it always uses the 1/3 federal amount.
Any solutions?
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Accountant-Man
Level 13
03-02-2021
12:49 PM
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Good question. I will look into it, since I have a client in the same situation.
** I'm still a champion... of the world! Even without The Lounge.
Accountant-Man
Level 13
03-02-2021
01:04 PM
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On my NJ client, it is taxing the full amount, not the one-third. Did you use the 8915E and 1099R box A to get the spread? {Sorry, I use Pro Series. But it should work, unless Lacerte is not smart enough.}
Like I said, NJ is taxing 100%.
** I'm still a champion... of the world! Even without The Lounge.
MAC222
Level 1
03-04-2021
09:04 AM
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Yes, Lacerte is not smart enough.
