Question

1099-b 1f

Forum|Forum|2 years ago
March 4, 2024
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I have amounts in form 1099-B line 1f ( Accrued market discount) from sale of US treasure bonds. Turbo Tax treated it as interest income. Does this kind of interest from US bonds exclude from MA State taxable income?

TurboTax Home & Biz Windows

J

JamesG1

Yes.

Massachusetts 2023 Form 1 Instructions, page 24, here states:

Line 6a Other Interest and Dividends to Be Excluded

Enter the total interest and dividends from the following sources only if it has been included in lines 1 or 3 of this schedule:

◗ Interest on U.S. debt obligations. Enter interest received on treasury bills, notes and bonds, savings bonds or other obligations of the United States, including its territories or dependencies. Such interest is tax-exempt in Massachusetts.

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