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SMELOSA
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Is massachusetts teachers retirement contribution eligible for the retirement credit

The retirement amount is entered in box 14 of the w-2 and is not being picked up by the TT program

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Is massachusetts teachers retirement contribution eligible for the retirement credit

If you are referring to the MA state tax deduction for mandatory contributions to the MA pension system shown in Box 14Y on your W-2, it should be picked up if you enter it on your W-2 Box 14, and choose MA State or US Retirement System in the drop-down box.  It will then display properly on MA Form 1, Line 11, to a maximum deduction of $2000.

If, as @SteamTrain, indicates, it is for the Retirement Savings Contribution Credit, it is irrelevant.

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2 Replies

Is massachusetts teachers retirement contribution eligible for the retirement credit

If you are referring to the MA state tax deduction for mandatory contributions to the MA pension system shown in Box 14Y on your W-2, it should be picked up if you enter it on your W-2 Box 14, and choose MA State or US Retirement System in the drop-down box.  It will then display properly on MA Form 1, Line 11, to a maximum deduction of $2000.

If, as @SteamTrain, indicates, it is for the Retirement Savings Contribution Credit, it is irrelevant.

Is massachusetts teachers retirement contribution eligible for the retirement credit

No, box 14 contributions are not eligible for the Retirement Savings Contribution Credit.  The IRS specifically does not allow them to be used for that credit.

Only box 12 contributions, or actual separate IRA/ROTH IRA contributions.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
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