DaveF1006
Employee Tax Expert

Deductions & credits

This actually took me a moment to research this but i have found your answer. if you reported your loss carryover in the federal return, you do not need to enter this in the Massachusetts return. The loss carryover has already been factored into your Massachusetts Adjusted Gross income. Ignore that screen that you are looking at above.

 

To verify that the capital loss carry over has been applied, look at box 6 of your federal 1040 and see if you see $3000.  if you do, then you know you have reported the correct carry forward amount. Now look at your Adjusted Gross Income on line 8B of the 1040.  See if it matches Box B of Mass form 1. If it does, then you know that the capital loss is reflected in the Mass Adjusted Gross income amount. You will not see this anywhere in your Mass return other than what is reported as Massachusetts Adjusted Gross income.

 

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