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Do I have to file a New Jersey Tax return? - Weird situtation..

I live in New York. I'm a resident of NY. I worked in NJ till Nov.

2008. Got laid off and have been collecting Unemployment for the last 14 months w/ all the extensions..So, for 2009 my only income came from New Jersey Unemployment and interest 1099-int's, and a brockerage acct composite w/ 1 stock trade. gain of 749.00 I got a 1099-g from NJ around 25K, and my 1099-int's. - Do I need to file NJ?. My acct. sent me back my taxes with a note no need to file NJ this year. So, I'm looking for someone that's been in this situation or has knowldege on whether I need to send a 1040NR?? to NJ..Not that I don't trust my acct. nevr led me wrong before, but there is always that one guy that will plant a seed for me to have to ask.. Please don't speculate if you don't know the answer. Thanks in advance.
Reply to
steve-o
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People here are too busy to go do a lot of free research. Here you get a lot of educated guesses, which give other people ideas, and remind some of the rules they might not have before that. This forum, for all the good it does, will not substitute for having your own tax professional handle your situation.

If you want to tell people to give you a good answer without discussion or speculation (which much of the time can't be done whether you know the rule in question or not), go pay your own tax professional to do that, and don't waste the time of knowledgeable, dedicated people.

Reply to
Stuart A. Bronstein

No offense,, Speculate all you want.. I didn't want to waste bandwidth. I respect this group. Hence, I post here. I used the wrong wording.. Sorry if I offended anyone.

Reply to
steve-o

You're not earning any income from an NJ employer or business you own in NJ.

But even if NJ called the unemployment compensation as earned NJ income, it wouldn't matter because NJ doesn't tax unemployment compensation.

Signed: a resident of NJ currently collecting unemployment compensation.

Reply to
Stan K

Stan - Thanks - I live in NY. I would think NJ residents would have to file but not get taxed on the UI. You would have to pay income on interest, stock trades, etc.

Reply to
steve-o

I had to file a UT tax return for one of my CO clients whose only income in 2009 was UT unemployment (they withheld UT tax, so even if it weren't UT income, we needed to file so client could get the withholding back. Since I believe NJ is an "AGI" state, rather than a state that includes itemized/standard deductions, my initial take is that you do need to file NJ. If you do owe tax there, it would provide a credit against any NY tax you owe.

Reply to
Tom Healy CPA

NJ residents don't have to file if NJ taxable income is under the threshhold for paying income tax. In that case, what we should file is a separate Homestead Rebate application, since our state constitution, as amended, requires that the state income tax be dedicated to property tax relief.

Reply to
Stan K

In NJ non residents or residents are not required to file if there only NJ income is unemployment, since NJ unemployment is not taxable.

Reply to
Luka

Steve, as a nonresident of NJ you are not taxable there on your income from intangibles (interest, dividends, etc.). Nonresidents are taxed only on income from sources within the taxing state. Income from intangibles generally has its source at the residence of the owner -- not the location of the issuer or payer of the obligation or income.

If your only income related to NJ is your unemployment compensation, you have no need to file a NJ return. Your accountant is correct.

Katie in San Diego

Reply to
Katie

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