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February 12, 2025
Question

TurboTax is showing that that 88% of my federally taxed pension is not taxable in Massachusetts. Is that correct?

  • February 12, 2025
  • 1 reply
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    1 reply

    JohnB5677
    February 12, 2025

    It is possible.

     

    • Is this from a traditional IRA?
    • If so, you did not get a tax break in Massachusetts for the contribution.
    • You would have to post it to the Massachusetts return, but that contribution will not be taxable when you withdraw it.
    • This does not apply to 401Ks or other employer provided retirement accounts.
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