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.
You'll need to sign in or create an account to connect with an expert.
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
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
rayoh
New Member
nasiratk
New Member
kari32870-gmail-
New Member
Cat_Sushi
Level 2
nwhaley87
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.