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Amount Paid to Social Security (FICA), Medicare, Railroad, U.S. or Massachusetts Retirement Systems
If you have paid into any of the retirement systems listed above during 2005, you may deduct those contributions, up to a maximum of $2,000. Enter the amount you, and your spouse if filing jointly, paid to Railroad Retirement and the U.S. or Massachusetts retirement systems during the tax year as shown on your Form W-2, but not more than $2,000 each. (OnLine Taxes will pull the amounts paid to FICA and Medicare off your entered W-2) Payment amounts may not be combined or transferred from one spouse to the other. Be sure to add any amount of Medicare tax withheld as shown on Form W-2 to the amount of Social Security tax withheld, the total not to exceed $2,000 per person. Note: Medicare premiums deducted from your Social Security or retirement payments are not deductible. Payments to an IRA, Keogh, Simplified Employee Pension Plan (SEP), or Savings Incentive Match Plan for Employees (SIMPLE) Account are not deductible for Massachusetts income tax purposes.
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