The MA Schedule B instructions read:
Line 10. Massachusetts Short-Term Capital Gains Enter the gross short-term capital gains from U.S. Schedule D, lines 1 through 5, column h. Note: If there are any differences between U.S. and Massachusetts complete the line 10 worksheet
Line 16. Short-Term Capital Losses Enter the gross short-term capital losses included in U.S. Schedule D, lines 1 through 5, column h. If there are any differences between U.S. and Massachusetts complete the line 16 worksheet.
This is straightforward, unless TurboTax is implicitly including differences between U.S. and Massachusetts, none of which appear to apply:
If there are any differences between U.S. and Massachusetts amounts reported in lines 10, 11, 12, 16 and 17, be sure to enter the Massachusetts amount. Possible differences include:
- Short-term capital gains taxed directly to Massachusetts estates and trusts (reportable on a Massachusetts Fiduciary Return, Form 2);
- Upon the sale of stock of an S corporation, the federal basis must be modified according to Massachusetts Income Tax Regulation, 830 CMR 62.17A.1; and
- Massachusetts has adopted basis adjustment rules to take into account differences between Massachusetts and federal tax laws. For more information regarding basis adjustment rules, see TIR 88-7. Part-Year/Nonresident filers do not exclude your transactions not associated with a trade or business in Massachusetts from lines 10,12,16 and 17. See the lines 13b and 19b for these adjustments.
