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GT620
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MA tax return question on inherited IRAs

I have IRA distributions from inherited IRAs of people who worked and lived in MA. All contributions would have been pretax and I pay tax on any amounts received in the year received. 

 

For the MA return, as for having to total distributions made in prior years, presumably I would only be concerned with distributions from my own MA IRA. Correct?

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1 Reply

MA tax return question on inherited IRAs

TurboTax Form 8606 won't handle the case where an inherited IRA and your IRA both have a basis.

Those must be handled separately requiring two Forms 8606.

 

The same problem exists for the state tax return. Given MA rules for basis taxation, there may be a workaround.

 

@GT620 

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