What is Included in Massachusetts Excludable Interest and Dividends Calculations?

Other Interest and Dividends to Be Excluded

Enter the total interest and dividends from the following sources (enclose an additional statement, if necessary) 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. For further information concerning exempt obligations of the United States, see TIR 89-8;

-Interest and dividends taxed directly to Massachusetts estates and trusts. Enter the interest and dividends that are taxed directly to a Massachusetts estate or trust (reportable on a Massachusetts Fiduciary Return, Form 2);

-Any distribution which is a return of capital included in total gross dividends, line 2;

-Any interest or dividends from obligations of the Commonwealth of Massachusetts or its political subdivisions held by you; w Any exempt portion of interest or dividends from a mutual fund included in lines 1, 2 or 3 of this schedule. Enter only the exempt portion of interest or dividends derived from obligations of the U.S. government or the Commonwealth of Massachusetts or its political subdivisions; or

-Any interest on pre-retirement distributions from state and municipal contributory pension plans. Do not enter in line 6a either of the following:

-Dividends from the earnings and profits accumulated prior to January 1, 1971, by any corporate trust which was not taxed directly by Massachusetts in prior years, even though such an entity is taxed directly now (obtain from the entity the taxable status of dividends paid to you); or

-Dividends from any corporate trust which is not taxed directly by Massachusetts. Such entities include: those not doing business in Massachusetts; regulated investment companies or real estate investment trusts (as defined under IRC §§ 851 and 856 respectively); or holding companies (as defined in MGL ch 62, § 8).