New Jersey S2294 provides a $3,000 tax deduction for taxpayers supporting elderly relatives.

New Jersey S2294 offers a $3,000 gross income tax deduction for taxpayers who provide more than half the support for a relative aged 70 or older living in their home for at least six months. To qualify, individual taxpayers must have a gross income of no more than $35,000, and joint filers must have a gross income of no more than $50,000. The deduction applies to taxable years beginning after the bill's enactment.

New Jersey S2294 provides a $3,000 tax deduction for taxpayers supporting elderly relatives.

New Jersey S2294 offers a $3,000 gross income tax deduction for taxpayers who provide more than half the support for a relative aged 70 or older living in their home for at least six months. To qualify, individual taxpayers must have a gross income of no more than $35,000, and joint filers must have a gross income of no more than $50,000. The deduction applies to taxable years beginning after the bill's enactment.