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March 12, 2025
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MA tax exempt interest on MA fiduciary return

Related products:ProSeries
  • March 12, 2025
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If you code exempt interest on form 1041 as exempt in MA, the MA fiduciary return form 2 adds it to taxable interest but does not subtract it back out. In other words, you are reporting and paying a MA tax on interest that should be exempt for MA purposes.