Hi,
I had a company 401K distribution last year. I am presented with the question "Is this retirement distribution from Fidelity Investments an excludable distribution for Massachusetts?". I already had both extra federal and state taxes withheld by Fidelity. Which one of the following two options do I select:
- Yes, this distribution is excludable (This does not include rollovers), or
- No, this distribution should not be excluded, or the distribution is a rollover to another retirement account.
If I choose Yes, then I can choose T - Taxable Pension from the Type drop-down list in the Verify or Adjust the type of Pensions and Annuities section.
I think I should select No. The next step, I am prompted on the Pension Adjustment - Federally Taxable page to enter Non-Taxable Massachusetts Pensions which is 0 by default. I left it as 0 and then clicked Continue and that seemed to work; i.e. I am not asked any further questions.
Did I get this right?
Thanks for your help!
Lauran
