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Massachusetts Income or Loss From Grantor-Type Trusts and Non-Massachusetts Estates and Trusts

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Massachusetts Income or Loss From Grantor-Type Trusts and Non-Massachusetts Estates and Trusts

Answer

Personal income taxpayers who have rental, royalty and REMIC income or loss and farm rental income and expenses; income or loss from partnerships and S corporations; and income or loss from grantortype trusts and non-Massachusetts estates or trusts are required to report income or loss from these sources on a Schedule E. For tax years beginning on or after January 1, 2008, any taxpayer with income or loss reported on a Schedule E must file his or her tax return using computer-generated forms produced by third-party software. The tax return may be generated by the taxpayer or by a tax professional. The taxpayer is encouraged, but not required, to submit the return electronically. Paper forms produced using the third-party software product will contain a two-dimensional (2D) bar code and will also be accepted. If the taxpayer hires an income tax preparer to complete the taxpayer’s taxes, the preparer must follow the Commissioner’s electronic filing rules. See TIR 08-22 for more information.

If you do not have access to a software package when filing your 2018 income tax return, you may file your Schedule E on paper.


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Views: 1137 Created on: Jun 15, 2013
Date updated: Dec 24, 2018
Posted in: States, Massachusetts

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