N.J. Stat. § 54A:5-2: Losses

Losses which occur within one category of gross income may be applied against other sources of gross income within the same category of gross income during the taxable year. However, a net loss in one category of gross income may not be applied against gross income in another category of gross income.

L.1976, c. 47, s. 54A:5-2, eff. July 8, 1976, operative Aug. 30, 1976.