- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
State tax filing
I am not making myself clear and perhaps I am misunderstanding something, but to recap
1. This is an inherited Roth IRA
2. The original owner passed away in 2021 and opened the account in 2002
3. I answered all questions in Fed and State interviews
Per mass.gov, Roth IRA distributions are excludable in their entirety if they are open at least five years AND meet one of the following conditions
(a) You were at least 59 and a half years old when it was distribute
(b) You are disabled
(c) The distribution is made to a beneficiary or your estate on or after your date of death
(d) The distribution is paying for a qualified first time homebuyer expense (up to $10,000)
In this case, the account was open for 5 years and (c) above is true. So excludable from Mass income
So why does entering different values for contributions and prior withdrawals change the taxable amount if it is all excluded to begin with?