Should I check the box under “Do any of these uncommon situations apply?” For “My state (MA) doesn’t tax all of this interest” for AmEx HY Savings interest? I live in MA

karendwehrle · ‎February 21, 2026

This is for interest earned in my HY Savings account. The explanation looks like it is for “Massachusetts banks” but I am not clear if it applies here. Thanks!

MaryK4

No, the exemption applied to Massachusetts banks, which AmEx did not qualify. Regardless, the exclusion of Massachusetts bank interest is not in effect for 2025 so it would still be taxable income. See TIR 24-14: Tax Provisions in the Fiscal Year 2025 Budget.

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MaryK4

No, the exemption applied to Massachusetts banks, which AmEx did not qualify. Regardless, the exclusion of Massachusetts bank interest is not in effect for 2025 so it would still be taxable income. See TIR 24-14: Tax Provisions in the Fiscal Year 2025 Budget.

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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Should I check the box under “Do any of these uncommon situations apply?” For “My state (MA) doesn’t tax all of this interest” for AmEx HY Savings interest? I live in MA