New Jersey State Tax Deductions - 2012, 2013
2013 New Jersey Income Tax Deductions
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New Jersey Standard Deduction |
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New Jersey Personal Exemption |
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New Jersey Dependent Deduction |
New Jersey income tax deductions are above-the-line expenses that can be deducted from your gross income before you calculate your taxable income.
By carefully choosing your deductions in order to minimize your taxable income, you can ensure that you get the largest possible refund when you file your New Jersey and Federal income taxes.
New Jersey does not support all of the deductions that are allowed on your Federal income tax return, so be sure to double-check any deductions or tax credits you want to claim on your New Jersey return. Some states specifically eliminate deductions to reduce the complexity of their tax system. For more information about the New Jersey income tax, see the main New Jersey income tax page.
New Jersey Standard Deduction
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Unlike many other states, New Jersey has no standard deduction. Certain itemized deductions (including property tax, qualified charitable contributions, etc) may be allowed depending on the income level and filing type of the taxpayer. Keep in mind that not all deductions allowed on your federal income tax return are necessarily going to be allowed on your New Jersey income tax return.
New Jersey Personal Exemption
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New Jersey's personal income tax exemptions include a personal exemption of $1,000.00 for single individuals and $1,000.00 for couples filing jointly.
You can deduct one single exemption from your gross income if you are responsible for supporting yourself financially. You may not, however, claim a personal exemption if someone else has declared you as a dependent on their tax return.
New Jersey Dependent Deduction
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New Jersey has a dependent exemption of $1,500.00. You may claim one dependent examption for each of the children, relatives, or others who live with and are supported by you as described § 152 of the IRC (Internal Revenue Code). Children claimed as dependants must be age 18 or younger, or a student age 23 or younger § 152(c)(3).
New Jersey Itemized Deductions
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New Jersey does not allow deductions to be itemized by any taxpayer. While you cannot use any of your Federal itemizations in New Jersey, there may be state-specific credits or deductions that parallel some of your deferal itemized deductions.
| New Jersey Income Tax Deductions Table | ||
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| $1,000.00 | $1,000.00 |
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| $1,500.00 |
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Visit the New Jersey income tax page for details on New Jersey's income tax. If you would like to learn about the income tax in other states, visit our listing of income taxes by state.
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References
- Before information on the 2013 New Jersey income tax deductions are released, provisional 2013 deduction information is based on New Jersey's 2012 tax deduction policy.
- The 2013 New Jersey standard deductions, personal exemptions, and dependent deduction amounts are sourced from the New Jersey Division of Revenue.
- Information on New Jersey's itemized deduction policy is updated from the New Jersey Division of Revenue and the Internal Revenue Service.
