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Retirement tax questions
I note the following, because I do not want folks to make the mistake of over-paying their taxes in Massachusetts..
On Intuit's own site it indicates that Massachusetts does not tax ROTH disbursements. But when I input from a 1099 for 2019 a ROTH disbursement, the TurboTax software increases my MA tax liability.
I am told by MA IRS, and a very experienced CPA that a ROTH disbursement under normal circumstances is NOT taxed by Massachusetts. As noted below, Massachusetts follows Federal guidelines.
The Intuit Tax specialist, a CPA, indicated to me that she believed that Massachusetts DOES tax ROTH disbursements, and that therefore the TurboTax software is correct.
I have been wrong on occasion, but since Massachusetts says they do not tax Roth Disbursements under normal circumstances, I am guessing there is a small glitch for for the software.