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Category: Massachusetts
40 Articles
Orange arrow Massachusetts Taxable IRA/Keogh and Roth IRA Distributions

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  Complete the Schedule X, Line 2 Worksheet to calculate the taxable portion of any amount you received from an Individual Retirement Account (IRA), Keogh, qualified charitable IRA distribution or Roth IRA conversion distribution. Since Massachusetts does not allow a deduction for amounts originally ...
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Orange arrow Massachusetts Election Fund

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  Massachusetts State Election Campaign Fund provides limited public financing for campaigns of eligible candidates for statewide and elective office. A taxpayer, and spouse if filing jointly, may voluntarily contribute $1 each to this fund....
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Orange arrow Massachusetts Adoption Expenses

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  Adoption Agency Fee You're allowed an exemption for fees you paid to a licensed adoption agency to adopt a minor child. The exemption is for: The full amount of the fees paid during the taxable year, and Includes fees you paid in the taxable year to an adoption agency for the adoption process of...
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Orange arrow Massachusetts Noncustodial Parent

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  A noncustodial parent is defined as a person who has a minor child, but does not live with the child. Note: If you are the biological parent of a child, but your parental rights have been terminated, you are not the noncustodial parent of that child....
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Orange arrow What Are My Massachusetts Contribution Options?

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  You may contribute any amount you choose to the following funds. Remember, these amounts are added to your tax. They increase the amount of your payment or reduce the amount of your refund. Endangered Wildlife Conservation The Natural Heritage and Endangered Species Fund is ad-ministered by the D...
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Orange arrow Do I Owe Use Tax for Massachusetts?

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  Massachusetts Use Tax Due On Internet, Mail Order and Other Out-ofState Purchases Made in 2018 If you purchased taxable tangible personal property out of state, over the Internet or from a catalog and did not pay Massachusetts sales tax at purchase, a Massachusetts use tax is due. If an item is ex...
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Orange arrow Can I Deduct the Amounts Paid to Social Security, Medicare, Railroad, U.S. or Massachusetts Retirement System?

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  Railroad, U.S. or Massachusetts Retirement Systems, Social Security (FICA) or Medicare If you have paid into any of the retirement systems listed above, you may deduct those contributions, up to a maximum of $2,000. Enter in lines 11a and 11b the amount you, and your spouse if filing jointly, paid...
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Orange arrow Are My Massachusetts Pensions and Annuities Taxable?

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  Taxable Pensions and Annuities Income from most private pensions or annuity plans is taxable in Massachusetts. Certain government pensions, however, are exempt under Massachusetts law. In general, exempt pensions include contributory pensions from the U.S. Government or the Commonwealth of Massachu...
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Orange arrow Am I Eligible for the Massachusetts Rental Deduction?

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  50% Rental Deduction You may be entitled to a rental deduction equal to one-half (50%) of the rent you paid during 2019 (up to a maximum of $3,000 per return) for your principal residence in Massachusetts. Enter the total amount of qualified rent paid by you during 2019 in line 14a. Divide line 1...
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Orange arrow Massachusetts College Tuition Deduction

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  College Tuition Deduction A deduction is allowed for tuition payments paid by you, for yourself or a dependent, to a qualifying two- or four-year college leading to an undergraduate or associate’s degree, diploma or certificate. Tuition payments for students pursuing graduate degrees at such...
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Orange arrow Massachusetts Fees and Other 5.05% Income

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  The following items should be reported on line 4 of Schedule X. Do not enter less than 0. Enclose additional statements if more space is needed. --All fee income, such as payments for jury duty, election worker payments, director’s fees, compensation received as executor or administrator of ...
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Orange arrow Massachusetts Student Loan Interest

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  Student Loan Interest Deduction Student Loan Interest Deduction Enter the amount from U.S. Form 1040, Schedule 1, line 20, not to exceed $2,500. This deduction is only allowed if not claiming the same expenses in line 12 of Schedule Y, Undergraduate Student Loan Interest Deduction....
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Orange arrow Massachusetts Low-Income Housing Credit

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  The Low Income Housing Tax Credit Program (LIHTC) is a federally authorized program for non-profit and for-profit developers to promote the construction and rehabilitation of affordable rental housing. The Low Income Housing Tax Credit (LIHTC) was created by Congress under Section 252 ...
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Orange arrow Massachusetts Senior Circuit Breaker Tax Credit

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  Annual Update of Circuit Breaker Tax Credit Taxpayers age 65 or older who own or rent residential property located in Massachusetts are allowed a credit equal to the amount by which their real estate tax payments, or 25% of the rent constituting a real estate tax payment, exceeds 10% of the taxpa...
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Orange arrow What is Included in Massachusetts Other Interest and Dividends Calculations?

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  Enter the following amounts and their sources (enclose additional statement if more space is necessary): -Interest from obligations of other states and their political subdivisions (including your share, if any, from a partnership, an S corporation and a grantor-type trust or non-Massachusetts tr...
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