NJ/NY Preparers I need help fast

[lbbwest]

Common issue taxpayer lives in SOHO and works in Weehawken, UBS is the employer it appears that UBS is issuing 2 W2s for the same income, one being taxed in New Jersey and the same income being taxed in New York. Please advise.

[jainen]

double taxation

>>2 W2s for the same income<<

That is proper. Report the federal income once,as if it were a duplicate W-2. Report the state income on both state returns, and claim the Resident Credit on New York to eliminate the double taxation.

[lbbwest]

Thank YOU!

I tried to just post thank you and reached an error message that said my message was too short, that's a first.

[New York Enrolled Agent]

If the taxpayer lives in SOHO, then you will also have NYC resident tax. As Jainen notes, file a resident NY state return with a IT-112 to claim a credit for the income taxed in New Jersey.