I own a home in New Jersey and work in New York. I NEVER get anything back from New Jersey. I feel all the property taxes and interest from my New Jersey home has been going to waste for the past 3 years. Is my tax filer doing something wrong? I've heard you can import all the New York state taxes to New Jersey and file as a New Jersey resident.
Please help! :mad:

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Originally Posted by mantasdad

i own a home in new jersey and work in new york. i NEVER get anything back from new jersey. i feel all the property taxes and interest from my new jersey home has been going to waste for the past 3 years. is my tax filer doing something wrong?. i've heard you can import all the new york state taxes to new jersey and file as a new jersey resident.
please help!!:mad:

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You file in both states. For NY, liability is based on wages earned in NY. For NJ file a return based on income from all sources, getting a credit for taxes paid to NY. There is a special provision on the NJ return wherein there is a partial rebate for property taxes.

Delite pretty much has it right. Since the NY taxes are higher than NJ, they usually completely offset any NJ taxes due. The only thing the NJ filer gets is a renter or property tax rebate, usually only $50.

In 2006, the state tax workers will calculate the rebate instead of the tax preparers.