New Jersey state return and RRSP income

This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.

Moderator: Mark T Serbinski CA CPA

Post Reply
redbeer
Posts: 23
Joined: Wed Apr 09, 2014 8:32 pm

New Jersey state return and RRSP income

Post by redbeer »

Many states, including New Jersey do not recognize US-Canada tax treaty.

When you have interest or dividend in your RRSP that is still in your account (not withdrawn), do you report it in your NJ return or you wait until withdrawal?

In the Federal case, you would wait until withdrawal (assuming 8891 was filed to defer tax).

Thank you.
nelsona
Posts: 18311
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

The only state that includes RRSP income as taxable even if you defer federally is california. All other states follow the federal return results for foreign pension taxation.

Ironically, it was individuals constantly asking the state that woke them up to the possibility of this extra tax.

So never call a state up to find out if something they don't mention is taxable or not: it will just make them chnage their regs!
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
redbeer
Posts: 23
Joined: Wed Apr 09, 2014 8:32 pm

Post by redbeer »

Well, that is great, albeit surprising. Thanks.
Post Reply