Thank you for your answer. This is what I suspected should be true. But this is the first time I have had to report Capital Gains of any kind in a few decades and I was unsure of the law.
If I may, can I as a follow-up question based on your answer. Since the current imported MA tax form shows the capital gains as taxable income, how can I change that to report it as non-Mass income so I don't take the tax hit from it? I did not see any area in the Turbo Tax program to note this as non Mass based income. Do I have to make a manual edit? Or is there an easier way? I will check FAQs to see if these is anything there.
