For tax years beginning on or after January 1, 2004, if assets were placed in service on or after January 1, 2004, and the federal 50% Special Depreciation Allowance or Section 179 expense …

use this section to calculate the NJ basis for depreciation and the NJ depreciation allowable for assets placed in service on or after January 1, 2004, and for which Section 179 expense or …

May 27, 2025 · Add or subtract the net adjustment from the Gross Income Tax Depreciation Adjustment Worksheet GIT-DEP , Part I, line 7; Subtract the New Jersey allowable IRC …

In particular, the law disallowed the use of federal bonus depreciation for privilege periods starting on and after January 1, 2002. As a result, a taxpayer is required to uncouple the federal and …

New Jersey and federal depreciation and expense deduction limits are different. A New Jersey depreciation adjustment may be required for assets placed in service on or after January 1, 2004.

For tax years beginning on or after January 1, 2004, use this section to calculate the NJ basis for depreciation and the NJ depreciation allowable for assets placed in service on or after January …

Dec 3, 2025 · Print and download current New Jersey income tax returns, instructions, schedules, and supplemental forms.

This includes the choice of recognized methods of accounting, methods of calculating depreciation, capital-ization of organizational fees, and the use of the install-ment sale provisions.

Dec 3, 2025 · Prior Year Income Tax Returns Home All Taxes Individuals Individual Income Tax Income Tax Forms Prior Year Income Tax Forms Prior Year Income Tax Forms

The land value is added to the cost of the building improvements minus depreciation if not new construction to get the total value of the property. Sales Comparison