Interest earned in online banks (that is, banks with no locations in Mass.) are not counted as "Mass. bank interest." I had to go back into Federal form and enter an online bank in the section "Other Interest and Dividends to Exclude." This was reflected in my Mass. return, but did not show up in line 5a, nor did the $100 exemption in line 5b.
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When you enter the interest on the Federal return, you'll be asked - "Tell us if any of these uncommon situations apply" - Check the "Our state does not tax all of this interest" box - Then enter the state as MA
When you enter the interest on the Federal return, you'll be asked - "Tell us if any of these uncommon situations apply" - Check the "Our state does not tax all of this interest" box - Then enter the state as MA
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