State Income Tax Refund & Alimony LEVEL 2 TOPIC 4491-08-C Income - State Income Tax Refund and Alimony v1.0 VO.ppt 11/30/20101NJ Training TY2010 v1.0.

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Presentation transcript:

State Income Tax Refund & Alimony LEVEL 2 TOPIC C Income - State Income Tax Refund and Alimony v1.0 VO.ppt 11/30/20101NJ Training TY2010 v1.0

New Jersey Income Tax Refunds Reported only if Taxpayer itemized deductions last year. Claimed deduction for state/local income tax Not reported if Sales Tax deducted in prior year Report on line 10 – Form 1040 Link to “State Tax Refund Worksheet” Need prior year data to calculate whether partially taxable If do not have prior year data, then all taxable 11/30/2010 2NJ Training TY2010 v1.0

1099-G With State Refund /30/2010 3NJ Training TY2010 v1.0

Alimony Alimony Received Is Taxable 11/30/2010 4NJ Training TY2010 v1.0