NJ Taxation of RRSP Withdrawal

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Jojo
Posts: 12
Joined: Wed May 29, 2019 11:20 am

NJ Taxation of RRSP Withdrawal

Post by Jojo »

Does NJ follow federal treatment of RRSP withdrawals, i.e. taxing only the growth since entry to the U.S.?

Scenario: NJ full year resident since entry into US from Canada. Dual citizen.
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nelsona
Posts: 18359
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: NJ Taxation of RRSP Withdrawal

Post by nelsona »

Were you a US citizen before moving to US, if so, you are responsible for more that just gain since moving to US, you are responsible for all gains.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
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Jojo
Posts: 12
Joined: Wed May 29, 2019 11:20 am

Re: NJ Taxation of RRSP Withdrawal

Post by Jojo »

No. I became a USC after moving to US.
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nelsona
Posts: 18359
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: NJ Taxation of RRSP Withdrawal

Post by nelsona »

Then you will be taxed on the taxable portion determined for your federal return.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
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