Welcome Guest. Register Now!  

LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 03-21-2014, 07:18 AM
Junior Member
Join Date: Mar 2014
Posts: 1
Individual 401K deductable at state level for self employed?

For tax year 2013, I contributed to an Individual 401K and I saw it was deductible at the Federal but not my NJ state level on my tax return. This was from my self employed income. My wife, who works for a company, contributed to her company 401K and it since the contribution was pretax, it was deductible at the Federal and NJ state level. Is this correct?

Are contributions to 401Ks deductible at the Federal and NJ state level to employees while retirement account contributions (e.g. individual 401K and SEP IRA) for the self employed are only deductible at the Federal level?

Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Deductable or not? jppatel CPA Forums 3 12-12-2012 11:09 AM
Self employed out of state... HELP! CrabbyAbby610 Filing Requirements 2 03-01-2012 10:44 AM
live in different states --how to file tax at State level? littlem Income 1 01-17-2012 09:55 PM
At what level of income besides SS am I required to file a return? rowena1 Filing Requirements 1 04-14-2011 03:50 AM
Would K-1 Losses be subject to any limitations at the shareholder level? Tanya Limited Liability Company 0 05-22-2008 09:41 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 » Income
 » IRA/Sep
 » Medical
 » Payroll
Forum for CPAs
Financial Planning

» Recent Tax Q&A
No Threads to Display.