Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Not applicable
posted Jun 6, 2019 9:08:51 AM

What options does one have if he has no record of his IRA contributions in Massachusetts?

0 6 1016
1 Best answer
Level 9
Jun 6, 2019 9:08:57 AM

Unfortunately, you are out of luck unless you can make a conservative estimate of your contributions made while a resident of MA.  Absent other information (your IRA custodian might have records), you have to assume your MA basis is zero.

6 Replies
Level 15
Jun 6, 2019 9:08:52 AM

How was it made? By check?

Not applicable
Jun 6, 2019 9:08:53 AM

I am retired and now taking  my RMD's and have long since stopped making IRA contributions.  However to properly file my Mass return you are supposed to know what your total (lifetime) IRA contribution was.  I have no record of this.

Level 15
Jun 6, 2019 9:08:54 AM

I don't know anything about MA, but are you sure that it is not asking about previous *non-deductible* Traditional IRA contributions which would be the same as used for the Federal 8606 form if you had any non-deductible "basis"?

Level 9
Jun 6, 2019 9:08:56 AM

@macuser_22 MA does not allow deductions for Traditional IRA contributions, so that the MA basis differs from the federal basis.  Also, MA allows tax-free withdrawals up to the amount of basis first before withdrawals are taxed.

Level 9
Jun 6, 2019 9:08:57 AM

Unfortunately, you are out of luck unless you can make a conservative estimate of your contributions made while a resident of MA.  Absent other information (your IRA custodian might have records), you have to assume your MA basis is zero.

Level 15
Jun 6, 2019 9:09:00 AM

you don't have to assume your basis is zero.
did you always put in the max? or varying amounts? you must have some idea of the number of years you made contributions. this puts an upper bound on your total contribution.
PS. if you kept all your form 5498 records it would give you the exact amount.
also note. the max allowed has changed over the years.