Massachusetts Fiduciary Estate INCOME tax return

[MassTax]

Massachusetts requires a Fiduciary INCOME tax return for an estate with Income of more than $100. Is a return necessary if the only "Income" was from a home sold within the estate for $5000 more than the basis but resulted in a capital loss after closing costs were subtracted from the sale proceeds?

[ShirlynW]

No. You indicated there was no taxable income. Every executor, administrator, trustee, guardian, conservator, trustee in a noncorporate bankruptcy or receiver of a trust or estate that received income in excess of $100 that is taxable must file.

[WTax1]

Thank you for the update. Just one quick clarification. In the Massachusetts instructions it says a fiduciary return must be filed if the taxable income is in excess of $100 “at the entry level”. I am not familiar with the term “entry level”. Is it the capitol income after the deductions which make it a loss and therefore a fiduciary return needs to be filed. Or is it the capitol income before the deductions  (and require a return to be filed although no tax would be due after the deductions are applied ?)

[WTax1]

Sorry correction: I meant to say in the first case No fiduciary form needs to be filed.