This is not TurboTax it is Massachusetts.
Massachusetts Law
Massachusetts gross income equals federal gross income with certain modifications, and, as a result, generally follows federal income exclusions. G.L. c. 62, §§ 1, 2, 3. However, Massachusetts adopts federal gross income as determined under the Internal Revenue Code ("IRC") as amended and in effect on January 1, 1988. G.L.c.62,
- Roth and Education IRAs were enacted and became part of the IRC after January 1, 1988. I.R.C. §§ 408A; 530.
- Therefore, Massachusetts law does not adopt the federal exclusions for income accruing in these accounts.
- In addition, Massachusetts law does not adopt the Roth IRA rollover provisions because they are not part of the 1988 Code.
- Coincidentally, the 1988 Code provisions applicable to distributions from existing IRAs would include in Massachusetts gross income the same portion of the distributions that are includible in federal gross income under the current code.
Massachusetts Personal Income Tax Treatment of Roth and Education IRAs
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