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Screen MAHAdj - Massachusetts Homeowner Adjustments (1120)

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Computation of Tax

Other 5.05% income
Use the statement to enter any 5.05 percent income other than interest and dividends. The application uses the information entered in this section to complete Form 3M, line 1.
Tax on long-term capital gains from Schedule D-IS
Enter the total tax on long-term capital gains from Schedule D-IS, Page 5. If this box is blank, the application uses the Schedule D tax on long-term capital gains on Form 3M, Page 1.

Schedule B - Interest, Dividends, Capital Gains or Losses

Interest and dividends
The application transfers the interest and dividend income from the federal return to the statement. Enter the class codes in the statement to transfer the items to the lines on the state return. To exclude an item from the state return, delete the amount or the entire line item from the statement. The application shows the modified column in black and won't replace the new data with subsequent federal-to-state data transfers.
Class Code
Description
Form 3M Destination
D
Taxable dividends
Schedule B, line 2
I
Taxable interest other than from MA banks
Schedule B, line 1
M
Taxable interest from MA banks (default)
Page 1, line 1
P
Taxable int & div from partnerships and non-MA estates/trusts
Schedule B, line 4

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