Why is my capital gain basis for my Massachusetts taxes 50% higher than for my federal taxes?

Different capital gain amounts for State and federal tax forms? Why?

posted

1. MA basis varies with the long term holding period, based on 2003.

2. MA has 3 different tax rates for capital gains. See page 11 of 2024 Form 1 Instructions.

3. Each state has their own tax rules and they are all very different. There is no requirement to conform to the IRS.

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