I took a non-hardship early withdrawal from my 401(k). My question is about NJ state taxes due. Do I owe NJ state taxes on this amount for the April filing? Thanks
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I took a non-hardship early withdrawal from my 401(k). My question is about NJ state taxes due. Do I owe NJ state taxes on this amount for the April filing? Thanks
Yes the amount listed on your 1099 is added to your total income on both Federal and state returns to be used in calculating the taxes owed.
The 10% penalty however is only Federal.
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