Legal Question in Tax Law in New Jersey
Resident - Non Resident Interest Income
I lived in NJ from 1/1/07 through 9/31/07. I have to file a resident and non resident return. For taxable interest income, do they want it broken down between what I received as a NJ resident and when I was a FL resident? On my Turbo Tax, the question shows up as ''NJ source taxable Interest Income'' The interest income is not from NJ, but from an online bank account. How should I be splitting up bank interest between the non resident and resident returns when neither is from any particular state?
1 Answer from Attorneys
Re: Resident - Non Resident Interest Income
NJ source income is such things as wages, etc., earned while you were employed in NJ or living here (like NY wages received as a NJ resident), plus investment income earned while you were a NJ resident, regardless where the source is located (e.g., bank interest from a non-NJ bank).
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