Due to differences in Massachusetts and Federal laws, the following information must be added to the state return to calculate the Massachusetts Adjusted Gross Income amount correctly:
Allocated Tips (From box 8 of your W-2)
If you have tips reported in Box 8 of your W-2 that are Massachusetts source income, include the amount here.
Massachusetts Bank Interest
Total amount of interest reported on the federal return that is allocated to Massachusetts.
Taxable IRA/Keogh and Roth IRA Conversion Distributions
Complete the entries to figure the amount taxable to Massachusetts. To refer to the worksheet used to determine the taxable portion reported on Schedule X, please click here.
Additional Fees and Other 5.05% Income
- Fee income
- Prizes and Awards
- Forgiveness of debt
- Other Income (listed on form 1040 Line 7a, Do not include NOL)
- Pre-1996 installment sales (ordinary income)
- Embezzled or other income from illegal activities
The instructions for the Massachusetts Schedule X can be found here.