Screen MAHome - Massachusetts Sale of Home (1040)

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Overview

The information that appears in this screen is transferred from federal Home Screen. It is important to report any state-related law differences in this screen.

Sale of Principal Residence - Sale Information

Electing to pay tax on entire gain (No exclusion will be calculated, entire gain reported on Schedule D)
When this field is marked, no exclusion is calculated and the entire gain is reported on Schedule D.
State use
Enter
1
to indicate that a current-year installment sale does not qualify for installment sale treatment for Massachusetts purposes. If
1
is entered, the installment sale information is disregarded and the entire gain / loss transfers to the return.

Exclusion Information

Meet use and ownership test without exceptions (2 yrs use within 5 yr period preceding sale date)
Mark this box when two years use with five year period precede the sale date.

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