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March 24, 2023
Question

I worked in Mass. and contributed to a traditional IRA for 25 years. IRA Contribs are not deductible so can I now exclude all my Distribs from taxable income?

  • March 24, 2023
  • 1 reply
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Schedule X (other Income) on the Mass Return.  Lines C and D.

1 reply

March 24, 2023

Yes, you can exclude your IRA distributions from Massachusetts income, up to your Basis Amount.  In other words, probably all distributions will be excluded until Earnings are distributed, in later years.

 

Here's more info on MA Taxable IRA Distributions.

 

@h2oskirich