What do I put for Taxable IRA/Keogh Distributions (Mass)

[SabrinaD2]

Distributions from Keogh plans are fully taxable in Massachusetts and on federal return if contributions were deducted when made. Thus, full distribution amount should normally be reported as taxable.

Additional information:

• Keogh plan is a retirement plan designed for self-employed individuals and unincorporated businesses. Contributions to Keogh plans can be made with pre-tax dollars, which means they are tax-deductible, reducing your taxable income for the year
• The earnings on these contributions grow tax-deferred until you withdraw them during retirement - when they are generally taxable.

For more detailed information, you can visit the Massachusetts Department of Revenue page on retirement plan contributions and distributions

.