You won't be taxed by both states on inherited funds.
Karin Price Mueller | NJMoneyHelp.com for NJ.com
Q. Does the 10-year rule based on the CARES Act also apply to an inheritance that I received from a cousin who lives in New Jersey? I live in New Mexico and transferred the money to my own IRA. Would I owe separate New Jersey taxes when I withdraw money?The CARES Act had nothing to do with the treatment of inherited IRAs. That was the“The 10-year rule would apply as that is based on federal law and the recently proposed regulations issued by the U.S.
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