TaxPrep4Free.org |
NJ IRA (Worksheet C) (also 403b/457b/TSP) |
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Part I | |||||
1a |
Value of this account on 12-31-2017
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1a | |||
1b |
Any contributions to this account for 2017
made in 2018.
Do not include tax-free rollovers
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1b | |||
1 |
Total Value of this account
(Add lines 1a and 1b)
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1 | |||
1 |
Value of this account on 12-31-2017
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1 | |||
2 |
Total distributions from this account during the tax year.
Do not include tax-free rollovers
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2 | |||
3 |
Total value of this account
(Add lines 1 and 2)
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3 | |||
Unrecovered contributions:
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4a |
First year of withdrawal from this account:
Enter the total of contributions to this acount
that were previously taxed.
Include any contributions to this
account for 2017 made in 2018 (line 1b, above)
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4a | |||
4b |
After first year of withdrawal from this account:
Complete Part II.
Enter the remaining unrecovered contributions from Part II, line (g)
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4b | |||
4c |
After first year of withdrawal from this account:
Complete Part III.
Enter amount of unrecovered contributions from Part III, line D
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4c | |||
4d |
After first year of withdrawal from this account:
Enter the known remaining carry over unrecovered contributions
to this account
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4d | |||
5 |
Accumulated earnings in IRA on 12-31-2017.
Subtract either line 4a, 4b, 4c, or 4d from line 3
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5 | |||
6 |
Divide line 5 by line 3 and enter the result as a decimal
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6 | |||
7 |
Taxable portion of this year's withdrawal.
Multiply line 2 by decimal amount on line 6.
Enter here and on Line 19a, Form NJ-1040
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7 | |||
8 |
Excludable portion of this year's withdrawal.
Subtract line 7 from line 2.
Enter here and on Line 19b, Form NJ-1040
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8 | |||
9 |
Unrecovered amount to carry over to next year.
Subtract line 8 from line 4
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9 |
Part II | |||||
(a) |
Last year's unrecovered contributions.
From line 4 of last year's worksheet
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(a) | |||
(b) |
Amount withdrawn last year.
From line 2 of last year's worksheet
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(b) | |||
(c) |
Taxable portion of last year's withdrawal.
From line 7 of last year's worksheet
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(c) | |||
(d) |
Contributions recovered last year.
Subtract line (c) from line (b)
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(d) | |||
(e) |
This year's unrecovered contributions.
Subtract line (d) from line (a)
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(e) | |||
(f) |
Contributions to this account during current tax year.
(Always 0 for non-IRA accounts)
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(f) | |||
(g) |
Total unrecovered contributions.
Line (e) plus line (f).
Enter here and on Part I, line 4b
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(g) |
Part III | |||||
A |
Determine the total amount of withdrawal(s)
made from the account in previous years
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A | |||
B |
Total the portion(s) of these previous year withdrawal(s)
already reported as income on prior New Jersey tax returns.
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B | |||
C |
Subtract the amount of previous year withdrawals reported (B)
from the total amount of previous year withdrawals (A).
This difference is the amount of contributions
that have been recovered thus far.
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C | |||
Total amount of contributions made to this account.
Include any contributions to this
account for 2017 made in 2018 (line 1b, above)
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D |
Subtract the amount of recovered
contributions (C) from the
total amount of contributions made the this account.
This is the amount of unrecovered contributions
to enter on line 4c of Part I
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D |