27 Mar We moved. Do we qualify for the ANCHOR benefit?

Q. My husband and I moved to Florida. We lived in New Jersey for more than 40 years and sold the New Jersey home on March 13, 2020. We are 74 and 66 years old. Are we eligible for the ANCHOR benefit?
— Trying for a win

A. Eligibility for ANCHOR hinges on a few eligibility criteria based on 2020 residency, income, and age.

But let’s look at your timing.

The ANCHOR benefit that was just paid was for the 2020 tax year. To be eligible for that benefit, you must have owned and occupied a home in New Jersey that was your principal residence on Oct. 1, 2020.

You sold the home before that date so on that alone, you would not be eligible for the 2020 ANCHOR, even if you otherwise qualified.

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This story was originally published in March 2024.

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