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Level 1
April 11, 2023
Question

Taxable Municipal Interest

  • April 11, 2023
  • 1 reply
  • 7 views

Massachusetts Municipal Revenue Bonds - the interest is taxable on the Federal return and Tax-exempt on the Massachusetts return.  What is the best way to enter this adjustment on the Massachusetts return?

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1 reply

Level 2
April 14, 2023

If interest is taxable to federal, but not to MA and assuming this is an individual return, you may adjust interest income on the Massachusetts Interest Income Worksheet.  Enter the adjustment amount in the appropriate column and see the Help to find the appropriate code for the "Adj Type".