turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

jadelucia
New Member

Do you know how to enter the Mass. bank interest exemption (2018 Form 1, line 5b)? TurboTax does not populate line 5. It displays 1099-INT interest only on line 20.

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.

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions

Do you know how to enter the Mass. bank interest exemption (2018 Form 1, line 5b)? TurboTax does not populate line 5. It displays 1099-INT interest only on line 20.

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

View solution in original post

1 Reply

Do you know how to enter the Mass. bank interest exemption (2018 Form 1, line 5b)? TurboTax does not populate line 5. It displays 1099-INT interest only on line 20.

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

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies