Question

MA non-resident short-term capital gain being taxed 12%

Forum|Forum|6 years ago
April 7, 2020
1 reply
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After finishing Federal and MA non-resident tax returns, I've noticed I'm being taxed on my short-term capital gain in Massachusetts. My home state is NV, there are no state taxes here. Is this correct?

M

mglauner

If you are preparing a Massachusetts Non-Resident return to report income earned there, enter only the MA-related income.

If you lived part of the year in MA, you would Allocate a % of your Capital Gains to MA, based on % of year lived there.

Click this link for more info on How to File a Non-Resident Return.

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-Reese-Author

Hello, thank you for your answer. I purchased TT federal and state together and the capital gains are transferring over from the federal return to the state return. Even though I have checked "non-resident" MA state return, it seems to be taxing the capital gains on the state return.