Massachusetts requires Schedule B to be completed if you had:
- Dividend income over $1,500
- Any interest income taxed at 5.05% other than from Massachusetts banks.
- Any short-term capital gains or losses
- Any carry-over from prior years of short-term losses
- Any gains on long-term capital investments on pre-1996 installment sales and collectibles considered capital gain income for Massachusetts purposes
- Any gains or losses from the exchange, sale, or involuntary conversions of property used in a business or trade.
- Any net long-term capital gains and losses
- Any excess exemptions
If the information is entered into the Federal Section, the program will pull the information required to the state return and automatically create the Schedule B. As with all forms, we recommend you view the PDF prior to e-filing. To view the PDF, go to the Summary/Print screen and click on View/Print Return. Follow the prompts for printing and you can view the PDF before you e-file the return.
You can view the Schedule B instructions and requirements here.