Income:
dividends = $2,600
short-term capital gains = $700
short-term capital losses = ($1,900)
long-term capital losses = ($3,600)
dividends = $2,600
short-term capital gains = $700
short-term capital losses = ($1,900)
long-term capital losses = ($3,600)
| 2014 Massachusetts Schedule B: | |
| Part 1 | |
| Line 9. Subtotal interest and dividends after excess trade/business deduction | $2,600 |
| Part 2 | |
| Line 15. STCG subtotal after excess trade/business deduction | $700 |
| Line 16. STCL | ($1,900) |
| Line 19. Combined STCL and STCG | ($1,200) |
| Line 20. STCL applied against interest and dividends maximum $2,000 | $1,200 |
Part 3 | |
| Line 29. Subtotal interest and dividends from line 9 | $2,600 |
| Line 30. STCL applied against interest and dividends | $1,200 |
| Line 31. Subtotal interest and dividends after applying STCL. See instructions | $1,400 |
| Line 32. LTCL applied against interest and dividends (See worksheet) | $800 |
| Line 33. Adjusted interest and dividends after applying LTCL | $600 |
| 2014 Massachusetts Schedule D: | |
| Line 9. Combined LTCL | ($3,600) |
| Line 15. Subtotal LTCL after applying capital losses against capital gains | ($3,600) |
| Line 16. LTCL applied against interest and dividends (from worksheet in instructions) | $800 |
| Line 17. Subtotal LTCL after applying against interest and dividends | ($2,800) |
2014 Schedule B, Line 32 and for Schedule D, Line 16 Worksheet - Long-Term Capital Losses Applied against Interest and Dividends If Schedule B, line 31 is a positive amount and Schedule D, line 15 is a loss, complete the Long-Term Capital Losses Applied Against Interest and Dividends Worksheet for Schedule B, Line 32 and Schedule D, Line 16. When completing the worksheet, be sure to enter all losses as a positive amount. Complete only if Schedule B, line 31 is a positive amount and Schedule D, line 15 is a loss. Enter all losses as positive amounts. |
| 1. Enter amount from Schedule B, Line 29 | $2,600 |
| 2. Enter the lesser of line 1 or $2,000 | $2,000 |
| 3. Enter the amount from Schedule B, line 30 | $1,200 |
| 4. Subtract line 3 from line 2. If "0" or less omit the remainder of worksheet. Otherwise, enter lines 5 and 6 | $800 |
5. Enter any loss from Schedule D, line 15, as a positive amount. Otherwise, enter "0" |
|
| 6. If line 4 is smaller than or equal to line 5, enter line 4 here and in Schedule B, line 32 and in Schedule D, line 16. If line 4 is larger than line 5, enter line 5 here and in Schedule B, line 32 and in Schedule D, line 16 | $800 |