Cash balance plan for partner in Massachusetts
Posted: 21-Apr-2022 4:30amClient is partner in large MA law firm. She gets a K-1. The K-1 has contributions listed for a cash balance plan. These are treated like other self-employed retirement plan contributions on the federal 1040 and are not deductible on the MA personal return. Future distributions will be non taxable in MA to the extent of previously taxed contributions. Is this all correct?