Question

How can I get the $200 exemption on Massachusetts bank interest on my MA state return?

Forum|Forum|1 year ago
February 21, 2025
1 reply
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This no longer applies. Effective January 1, 2024, the deduction previously allowed for a deduction of up to $100 ($200 for joint filers) of interest from Massachusetts banks is repealed.

mass.gov

@schoaie

[Edited 03/28/2025| 07:15 AM,PST]

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K

KarenK72

I did this twice and it still did not give me the exemption. I think there's a bug in the MAC desktop version of TurboTax.

V

Vanessa A

The exemption is no longer available.

Repeal of the Deduction of Interest from Massachusetts banks
Effective for taxable years beginning on or after January 1, 2024, the deduction previously allowed for a deduction of up to $100 ($200 for joint filers) of interest from Massachusetts banks is repealed.

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