I will have multiple short term capital gain transactions reported on my broker's 1099. The majority of those transactions were gains, but I also had some transactions that were losses. When I fill out my federal form schedule D, I plan to add up the gains and losses the transactions as a summary and report the total as a summary on line 1a.
When I fill out the Massachusetts tax return, which one the following 2 options is correct to do?
Option 1: input the total listed on the federal schedule D line 1a on the Massachusetts Schedule B line 10
Option 2: separate the transactions from the 1099 into the transactions that were gains and the transactions that were losses, add up the transactions that were gains and put the total on line 10, then add up the transactions that were losses and put the total on line 16?
Is option 1 above or option 2 correct?
