New Jersey Exit Tax Calculator

New Jersey Exit Tax Calculator for Home Sellers

Estimate the GIT/REP estimated income tax payment due at closing when you sell New Jersey real estate. Nonresident sellers generally pay the greater of 10.75% of the gain or 2% of the sale price, unless an exemption or waiver applies.

Call (732) 812-3102 Schedule Consultation
Seller status at closing
Sale
$
$
Broker commission, attorney fees, Realty Transfer Fee, and similar costs of sale
Adjusted basis
$
$
Additions, renovations, new roof, etc. Routine repairs do not count.
$
Title, legal, and recording fees. Not mortgage points or loan fees.
$
Rental or business use only; reduces basis
Principal residence

Your estimate

Adjusted basis$0
Amount realized (sale price − expenses)$0
Gain (or loss)$0
10.75% of taxable gain$0
2% of sale price (minimum)$0
Estimated payment at closing
$0
Form GIT/REP-1
DISCLAIMER: This calculator provides an estimate for general informational purposes only and is not legal or tax advice. The GIT/REP payment is an estimated prepayment of New Jersey Gross Income Tax, credited against your actual liability when you file Form NJ-1040NR. Your actual basis, gain, and eligibility for an exemption or waiver depend on your specific facts. Consult an attorney or tax professional before closing.