The Capital Gains and Losses Summary section of my MA interview is not showing all the gains and losses that I input into the federal questionnaire. Is this a known bug?

[MarilynG1]

No, there is no known bug for reporting Schedule D Gains/Losses for Massachusetts.

However, Massachusetts does tax and report Capital Gains/Losses differently than on your Federal return, so this may be what you are seeing.

Make sure your program is updated. 

Click this link for some advice on Reporting Capital Gains in Massachusetts.

Also, here's a link to Massachusetts Dept. of Revenue with detailed information. 

[morgan-elizabeth]

The long-term capital gains amount matches the federal return, so I suspect this might be a quirk of the display. (I'm using TurboTax Premium, the cloud version.) The list itself is truncated - i.e., I don't see all the capital gains and losses entries I added to the federal questionnaire when looking at the Massachusetts summary.

I'm at a loss as to what could be causing the difference in the short-term capital gain amounts; I don't see anything in the linked documents that would apply to me, and I haven't been able to reverse engineer what's happening. These are short-term gains from stock sales. I think it's likely to calculation is correct; I'd just like to understand how TurboTax is arriving at the number.

[morgan-elizabeth]

The MA Schedule B instructions read:

Line 10. Massachusetts Short-Term Capital Gains Enter the gross short-term capital gains from U.S. Schedule D, lines 1 through 5, column h. Note: If there are any differences between U.S. and Massachusetts complete the line 10 worksheet

Line 16. Short-Term Capital Losses Enter the gross short-term capital losses included in U.S. Schedule D, lines 1 through 5, column h. If there are any differences between U.S. and Massachusetts complete the line 16 worksheet.

This is straightforward, unless TurboTax is implicitly including differences between U.S. and Massachusetts, none of which appear to apply:

If there are any differences between U.S. and Massachusetts amounts reported in lines 10, 11, 12, 16 and 17, be sure to enter the Massachusetts amount. Possible differences include:

• Short-term capital gains taxed directly to Massachusetts estates and trusts (reportable on a Massachusetts Fiduciary Return, Form 2);
• Upon the sale of stock of an S corporation, the federal basis must be modified according to Massachusetts Income Tax Regulation, 830 CMR 62.17A.1; and
• Massachusetts has adopted basis adjustment rules to take into account differences between Massachusetts and federal tax laws. For more information regarding basis adjustment rules, see TIR 88-7. Part-Year/Nonresident filers do not exclude your transactions not associated with a trade or business in Massachusetts from lines 10,12,16 and 17. See the lines 13b and 19b for these adjustments. 

[kws3]

I am having the same problem with long term. It seems to have not transferred the LT capital loss carryover from the federal to the state. Interestingly, my short term pulled over the net gain for short term. 

[Danz2397]

Did u figure this out? I am having this issue now and its driving me insane