Question
New Jersey (NJ) - Foreign (Retirement) Income Exclusion
Hi there, we moved from NY to NJ, I have a question regarding foreign pension-retirement exclusion. Does a foreign pension (government retirement pension paid every 2 months) qualify for the New Jersey's pension exclusion? In NY we were able to exclude $20,000, in NJ as far as I know we should be able to exclude 100% of retirement (pension) if our gross income is below 150K and one of us is 62 or older. I couldn't find any info regarding foreign retirement pension though. Any input will be appreciated.
