- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
No - your Roth contributions have already been taxed. Massachusetts wants to know the amounts that were already taxed by MA in prior years, so MA doesn’t tax them again.
Massachusetts taxes income differently than federal law. They do NOT allow a deduction for traditional IRA contributions. Previously taxed contributions are what make up your MA basis.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
yesterday