MA capital gains/losses for non-resident

[dbdd3]

Hi,

For MA taxes, I’m a non-resident (work in MA but don’t live in MA). I own stock in the company I work for in MA (truly own, not options, etc). I sold stock in 2024 and have a capital gain. For MA taxes, for each capital gain/loss I need to identify each item that is non-Massachusetts.  The company I work for is not headquartered in MA. However, since the company is located in MA, I assume that the capital gain is Massachusetts sourced and therefore I DO NOT list the gain as "non-Massachusetts". Is this correct? 

Thank you.

[DianeW777]

Yes, your capital gains from sale of stock that is derived from the company you work for is taxable as Massachusetts (MA) source income. You do need to identify those stock sales that are not part of the MA source.  Include only the income from the MA sources (wages and stock sales from your company).

• 2024 Form 1 NR/PY Instructions

[dbdd3]

Hi. Thank you for your response.  I have a follow-up question (which I can't find an answer to by searching Q&A from others).  I sold ~18 stocks last year and therefore have a gain or loss from each  One stock was for the company I work for in MA.  The ~17 others were for various publicly traded companies.  Some of these companies have physical locations in MA, even though they are not headquartered in MA (ex: Procter & Gamble), some have no physical location in MA (as far as I can determine) and one company is headquartered in MA.  My question is: do I need identify all the companies for which there is NOT a physical presence in MA and then marked the gain/loss for those companies as "non-Massachusetts sourced"?  Conversely, the gain/loss for all the companies that have a physical presence in MA are therefore Massachusetts sourced?  Thank you.

[DawnC]

Those should be sourced to your resident state.   The only MA sourced transaction is the stock you sold through your MA employer.