Schedule NJ-DOP / Schedule NJ-WCC: Net Gains or Income from Disposition of Property and Wounded Warrior Caregivers Credit (2024)
New Jersey · NJ Division of Taxation · Used for tax years 2024
These 2024 New Jersey schedules report net gains or income from property dispositions and calculate the Wounded Warrior Caregivers Credit for Form NJ-1040. Schedule NJ-DOP includes property sales, capital gains distributions, and other net gains, while Schedule NJ-WWC calculates
Who files this form
For tax year 2024:
- Schedule NJ-DOP is used to list net gains or income, less net losses, from sales, exchanges, or other dispositions of property as reported on federal Schedule D. This includes real or personal property, whether tangible or intangible.
- Schedule NJ-WWC is used to calculate the Wounded Warrior Caregivers Credit. It asks whether you provided care for a relative who was a qualifying armed services member. If you answer “No,” the form says you are not eligible for the credit.
The form refers to instructions for determining whether the service member qualifies, but those instructions were not provided.
What you'll need
Have the following information available to complete the schedules:
- Your name as shown on Form NJ-1040 and your Social Security number.
- For NJ-DOP, federal Schedule D information, property descriptions, acquisition and sale dates, gross sales prices, adjusted cost or other basis, and sale expenses. The schedule also asks for capital gains distributions and other net gains.
- For NJ-WWC, the qualifying service member’s name and Social Security number, your relationship to that person, and their federal disability compensation. If you were not the only caregiver, you also need your percentage share of the total care expenses for the year.
Common mistakes
- Do not carry a net loss to NJ-1040 line 19. If the total on NJ-DOP line 4 is a loss, enter zero on line 4 and make no entry on line 19.
- Do not claim the caregiver credit after answering “No” to the qualifying-relative question. The form says to make no entry on NJ-1040 line 62.
- Do not use the full calculated credit if you shared caregiving. If you were not the only caregiver, multiply NJ-WWC line 3 by your percentage share of total care expenses from line 4.
- Keep a copy of the schedule for your records.
Questions people ask
How do I calculate the gain or loss for a property on NJ-DOP?
Subtract column (e), adjusted cost or other basis and sale expenses, from column (d), gross sales price. Enter the result in column (f).
Where does the NJ-DOP total go?
Add lines 1, 2, and 3 and enter the total on line 4 and NJ-1040 line 19. If the total is a loss, enter zero on line 4 and make no entry on line 19.
What is the maximum Wounded Warrior Caregivers Credit for 2024?
The schedule lists a maximum of $675. Line 3 is the lesser of the service member’s federal disability compensation or $675. If you were not the only caregiver, the amount is then multiplied by your percentage share of total care expenses.
Where do I enter the caregiver credit on NJ-1040?
Enter the amount calculated on NJ-WWC line 5 on NJ-1040 line 62.