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-Reese-
Returning Member

MA non-resident short-term capital gain being taxed 12%

After finishing Federal and MA non-resident tax returns, I've noticed I'm being taxed on my short-term capital gain in Massachusetts.  My home state is NV, there are no state taxes here.  Is this correct?

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3 Replies
MarilynG1
Expert Alumni

MA non-resident short-term capital gain being taxed 12%

If you are preparing a Massachusetts Non-Resident return to report income earned there, enter only the MA-related income. 

 

If you lived part of the year in MA, you would Allocate a % of your Capital Gains to MA, based on % of year lived there. 

 

Click this link for more info on How to File a Non-Resident Return.

 

 

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-Reese-
Returning Member

MA non-resident short-term capital gain being taxed 12%

Hello, thank you for your answer.  I purchased TT federal and state together and the capital gains are transferring over from the federal return to the state return.  Even though I have checked "non-resident" MA state return, it seems to be taxing the capital gains on the state return.

MarilynG1
Expert Alumni

MA non-resident short-term capital gain being taxed 12%

There should be a place in your Massachusetts state interview where you can manually indicate 'subtractions from income'.

 

Click this link for more info from the Massachusetts Dept. of Revenue. 

 

 

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