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If you have paid into any of the retirement systems listed below during the tax year 2021, those contributions are deductible up to a maximum of $2,000:
Amount paid to Social Security (FICA)
Medicare
Railroad
U.S. or Massachusetts Retirement Systems
TurboTax automatically calculates the $2,000 deduction based on MA state tax law and the data you entered in Turbo Tax.
Can you clarify which state you are referring to and what type of retirement payment the $2,000 is for (contribution or distribution)?
This is for my Massachusetts filing, which is showing a summary that includes a retirement contribution of $2000. But I have no idea why. I went back to my federal info and made sure that I'd put in "zero" for retirement contributions.
If you have paid into any of the retirement systems listed below during the tax year 2021, those contributions are deductible up to a maximum of $2,000:
Amount paid to Social Security (FICA)
Medicare
Railroad
U.S. or Massachusetts Retirement Systems
TurboTax automatically calculates the $2,000 deduction based on MA state tax law and the data you entered in Turbo Tax.
Ah, the $2000 must be from my SS/medicare contributions. Thank you SO much for clarifying this! Much appreciated!
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