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Investors & landlords
taxfile2020,
While it is true that MA taxes short term capital gains at a 12% rate versus a 5% rate for interest, dividends, and long term capital gains, TurboTax has that info already. MA document https://www.mass.gov/doc/2022-schedule-d-is-instructions/download does show a couple of exotic edge cases that TurboTax would not automatically handle. I doubt that any of those affect you.
As to wash sales, that is and adjustment to the cost basis of the asset and requires no changes in MA from the federal treatment. (https://answerconnect.cch.com/document/jma0109013e2c84f9268b/state/explanations/massachusetts/federa...)
‎January 23, 2023
8:05 PM