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New Jersey Forfeiture Penalty for Early Withdrawal

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New Jersey Forfeiture Penalty for Early Withdrawal

Answer

Forfeiture Penalty for Early Withdrawal.

 If you incur a penalty by withdrawing a time deposit early, you may subtract the amount of the penalty from your interest income.

If your taxable interest income on Line 15a is more than $1,500, enclose a copy of Schedule B, Federal Form 1040 or 1040A.
 


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Article Details
Views: 223 Created on: Jun 15, 2013
Date updated: Aug 25, 2015
Posted in: STATES, New Jersey

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