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Thread: Question on exit tax when moving from NJ
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Old 01-25-2014, 05:53 PM
NECHFalcon68 NECHFalcon68 is offline
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Quote:
Originally Posted by lewie View Post
Yes; we paid an exit tax to move from NJ to The Villages. Your best bet to finding the amount you would owe is to ask your attorney and/or your realtor. It is 2% of some amount as set forth by IRS & NJ deed guidelines. (Friends who moved to PA 10 years ago also paid an exit tax.) If you are 62+ years old when you sell then it was discounted. Those were the parameters when we sold last year but that is not to say that they are the same for now. Good luck!
How was it listed on the HUD-1 form? Which line#?
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