I received Form 1099-INT which shows an interest amount and Form 1099-G which shows a refund amount. What am I supposed to report as income?
A. You may need to report both amounts as income. If so, the interest would be included with the other interest income you report on your Federal return. For information on Federal reporting requirements, visit the IRS web site The interest must also be included with any other taxable interest income you report on your New Jersey return, however, any amount shown on the Form 1099-G is exempt from New Jersey gross income tax and should not be reported on your return.
You may need to report both amounts as income. If so, the interest would be included with the other interest income you report on your Federal return. For information on Federal reporting requirements, visit the IRS website. The interest must also be included with any other taxable interest income you report on your New Jersey return, however, any amount shown on the Form 1099-G is exempt from New Jersey gross income tax and should not be reported on your New Jersey return.
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