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Hook said the home

Hook said the home improvements you mentioned would add to the basis of the property and thus reduce the tax owed on the tax return. It may or may not reduce the estimated tax payment, however, because New Jersey law requires a minimum of 2 percent be paid in as an estimate on the sales price. Because of this minimum, Hook said, the taxpayer may wind up with a refund once they file the actual New Jersey Non Resident Tax Return..

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