What is Miscellaneous Income?
New Jersey defines Miscellaneous Income as: • Amounts received as prizes and awards. A prize won in a raffle, drawing, television, radio quiz show, contest, or any other event is taxable and must be included. • Income in respect of a decedent. If you had the right to receive income that the deceased person would have received had he or she lived, and the income was not included on the decedent’s final return, you must report the income on your own return when you receive it. • Income from Estates and Trusts. If you are a beneficiary who received income from an estate or trust, you need to include in your income the Total Distribution reported to you on a Schedule NJK-1, Form NJ-1041. If you didn’t receive this form, include a net of the items listed on the federal K-1 you received instead, after adjusting interest, dividends, capital gains, business or partnership income, etc. to reflect New Jersey tax law. • Scholarships and fellowships. Scholarships and fellowship grants are taxable
