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Massachusetts Interest Dividends and Certain Capital Gains and Loss
Extracted from PDF file 2023-massachusetts-schedule-b-personal.pdf, last modified November 2023Interest Dividends and Certain Capital Gains and Loss
Massachusetts Department of Revenue Schedule B Interest, Dividends and Certain Capital Gains and Losses Name of estate or trust 2023 Estate or trust employer Identification number Fill in oval if showing a loss 1 Total interest (from U.S. Form 1041, line 1; or Form 1041-QFT, line 1a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 Total dividends (from U.S. Form 1041, line 2a; or Form 1041-QFT, line 2a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Other interest and dividends not included above . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Total interest and dividends. Add lines 1 through 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Interest on U.S. debt obligations included in line 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 6 Interest from Massachusetts banks reported in Form 2, line 5 (5.0% income). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 7a Other exclusions (see instructions). Attach list of exclusions, if any. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7a 7b Non-resident estates or trusts only. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7b 8 Total adjustments. Add lines 5, 6, 7a and 7b. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 9 Subtotal. Subtract line 8 from line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 10 Allowable deductions from your trade or business (from Massachusetts Schedule C-2) .. . . . . . . . . . . . . . . . . . . . . . . . . . 10 11 Subtotal. Subtract line 10 from line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 12 Short-term capital gains (included in U.S. Form 1041, Schedule D, Part I, lines 1 through 5). . . . . . . . . . . . . . . . . . . . . . . . 12 13 Long-term capital gains on collectibles and pre-1996 installment sales (from Massachusetts Schedule D, line 11).. . . . . . 13 14 Gain on the sale, exchange or involuntary conversion of property used in a trade or business and held for one year or less (from U.S. Form 4797). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 15a Add lines 12 through 14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15a 15b Non-resident estates or trusts only. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15b 15c Subtract line 15b from line 15a. Not less than 0 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15c 16 Allowable deductions from your trade or business (from Massachusetts Schedule C-2). . . . . . . . . . . . . . . . . . . . . . . . . . . 16 17 Subtotal. Subtract line 16 from line 15c. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 18 Short-term capital losses (included in U.S. Form 1041, Schedule D, Part I, lines 1 through 5) . . . . . . . . . . . . . . . . . . . . . . 18 19 Loss on the sale, exchange or involuntary conversion of property used in a trade or business and held for one year or less (from U.S. Form 4797). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 20 Prior short-term losses for years beginning after 1981 (from 2022 Massachusetts Schedule B, line 41) 20 21a Combine lines 17 through 20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21a 21b Non-resident estates or trusts only. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21b 21c Subtract line 21b from 21a. If a positive amount, go to line 26. If the total is a loss, go to line 22. . . . . . . . . . . . . . . . . . 21c 22 Short-term capital losses applied against interest and dividends. Enter the smaller of line 11 or line 21c (as a positive amount). Not more than $2,000. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 23 Subtotal. Combine lines 21c and 22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 24 Short-term capital losses applied against long-term capital gains. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 25 Short-term losses available for carryover in 2024. Combine lines 23 and 24 and enter result here and in line 41, omit lines 26 through 29, enter 0 in line 30, and complete lines 31 through 40 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 26 Short-term gains and long-term gains on collectibles. Enter amount from line 21c. See instructions. . . . . . . . . . . . . . . . . . 26 27 Long-term capital losses applied against short-term capital gains. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 2023 SCHEDULE B, PAGE 2 Name of estate or trust Estate or trust employer Identification number 28 Subtotal. Subtract line 27 from line 26. Enter result here. If line 28 is 0, omit line 29, and enter 0 in line 30.. . . . . . . . . . . . 28 29 Long-term gains deduction. Complete only if lines 13 and 28 are greater than 0. From worksheet in instructions . . . . . . . 29 30 Short-term gains after long-term gains deduction. Subtract line 29 from line 28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 31 Enter the amount from line 11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 32 Short-term losses applied against interest and dividends. Enter the amount from line 22. . . . . . . . . . . . . . . . . . . . . . . . . . 32 33 Subtotal. Subtract line 32 from line 31. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 34 Long-term losses applied against interest and dividends. Not more than $2,000 (from worksheet in instructions). . . . . . . 34 35 Adjusted interest and dividends. Subtract line 34 from line 33. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 36 Adjusted gross interest, dividends and certain capital gains and losses. Add lines 30 and 35. Not less than 0. . . . . . . . . . 36 37 Expense and fiduciary compensation deduction. Attach Schedule H. 37a Expense deduction (from Schedule H, line 5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37a 37b Fiduciary compensation (from Schedule H, line 18). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37b 37c Total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37c 38 Taxable interest and dividends and certain capital gains. Subtract line 37 from line 36. Not less than 0. . . . . . . . . . . . . . . 38 39 If line 38 is greater than or equal to line 11, enter the amount from line 11 here and on Form 2, line 14. If line 38 is less than line 11, enter line 38 here and on Form 2, line 14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 40 Total taxable 8.5% and 12% capital gains. Subtract line 39 from line 38. Not less than 0. Enter result here and on Form 2, line 23. If line 13 is greater than 0, see instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 41 Available short-term losses for carryover in 2024. Enter amount from line 25 only if it is a loss. . . . . . . . . . . . . . . . . . . . . . 41
Schedule B - Personal
More about the Massachusetts Schedule B - Personal Individual Income Tax TY 2023
If you received any interest income other than interest from Massachusetts banks, or if you received more than $1,500 in gross dividend income, or if you have certain capital gains/losses, or any adjustments to interest and dividend income, complete Schedule B (see instructions). Otherwise, enter dividends of $1,500 or less on Form 1, line 20 or Form 1-NR/PY, line 24. In all cases enter 5.1% interest from Massachusetts banks on Form 1, line 5a or Form 1-NR/PY, line 7a.
We last updated the Interest Dividends and Certain Capital Gains and Loss in February 2024, so this is the latest version of Schedule B - Personal, fully updated for tax year 2023. You can download or print current or past-year PDFs of Schedule B - Personal directly from TaxFormFinder. You can print other Massachusetts tax forms here.
Related Massachusetts Individual Income Tax Forms:
TaxFormFinder has an additional 126 Massachusetts income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Massachusetts Schedule B - Personal.
| Form Code | Form Name |
|---|---|
| Schedule B | Interest Dividends and Certain Capital Gains and Loss |
| Schedule B/R | Beneficiary/Remaindermen |
View all 127 Massachusetts Income Tax Forms
Form Sources:
Massachusetts usually releases forms for the current tax year between January and April. We last updated Massachusetts Schedule B - Personal from the Department of Revenue in February 2024.
About the Individual Income Tax
The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.
Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!
Historical Past-Year Versions of Massachusetts Schedule B - Personal
We have a total of nine past-year versions of Schedule B - Personal in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2016 Schedule B - Personal
form 1
2015 Schedule B - Personal
form 1
2014 Schedule B - Personal
form 1
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