Does Massachusetts tax Keogh retirement earnings?
New Member

Does Massachusetts tax Keogh retirement earnings?

Does Massachusetts tax Keogh retirement earnings? 

Fed TT says no, State TT says yes.  Which is correct?

This widget could not be displayed.
Level 6

Retirement tax questions

Are you referring to a contribution or withdrawal?
This widget could not be displayed.
New Member

Retirement tax questions

withdrawal
This widget could not be displayed.
New Member

Retirement tax questions

there is an error in TurboTax:  Keogh earnings cannot be untaxed in Mass as stated by Fed TT, and then taxed in the Mass State TT forms
This widget could not be displayed.
New Member

Retirement tax questions

Zbucklyo: thank you for your answer. It is the same as my understanding of the situation. My problem is actually with TT which has a serious flaw in its Fed forms. This was supposed to be corrected over a year ago. The error persists making me believe each year that I have missed something in understanding what I need to do.
This widget could not be displayed.
Level 6

Retirement tax questions

Earnings within a Keogh (before withdrawal) are not taxed.  The withdrawal itself may or not be taxable in MA.  Use Schedule X, Line 2 worksheet to determine the taxable amount, if any.  Basically, the amount you contributed is not taxed, but once all the contributions have been withdrawn, the earnings are considered taxable by MA.

View solution in original post

This widget could not be displayed.
Privacy Settings