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MA State Tax: How to not include bank interest

 

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Subject Author Date
MA State Tax: How to not include bank interest Samik R. 04-09-2007
Posted by Samik R. on April 9, 2007, 2:51 am
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Hello,

Following is what I am doing in Schedule-B:
Line 1: XXX (This is the only interest I have obtained,
and while at CO)
Lines 2-3: 0
Line 4: XXX
Lines 5-6: 0
Line 7: XXX
Line 8: 0
Line 9: XXX

What am I missing in either Schedule-B or 1-NR/PY?

Mass tax forms are waaaay complicated than other states I
have filled (CO,WI,VT) :-(

Thanks.

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Posted by Katie on April 12, 2007, 12:06 am
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> Following is what I am doing in Schedule-B:
> Line 1: XXX (This is the only interest I have obtained,
> and while at CO)
> Lines 2-3: 0
> Line 4: XXX
> Lines 5-6: 0
> Line 7: XXX
> Line 8: 0
> Line 9: XXX
>
> What am I missing in either Schedule-B or 1-NR/PY?
>
> Mass tax forms are waaaay complicated than other states I
> have filled (CO,WI,VT) :-(

Well, I certainly feel your pain <G>. These forms are a
bear.

You subtract the interest income received while a
nonresident on Line 6 of Schedule B. See the Instructions
for Form 1-NR/PY, p. 28.

Katie in San Diego

<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ------------------------------------------------------- >>

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