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  #3  
Old 01-26-2005, 07:04 PM
D.F.
Guest
 
Posts: n/a
Default Re: TaxCut & U.S. Treasury vs. U.S. Government

Paul wrote:

- quote -

> TaxCut for the 2004 tax year tells me to enter the
> percentage of my dividends that are from "U.S. Treasury
> Obligations" for exclusion from Massachusetts state tax. Is
> it really only U.S. Treasury obligations that are excluded
> from MA state tax? Doesn't MA allow exclusion of interest
> and dividends from most U.S. debt obligations, including
> Treasury obligations? If so, why would TaxCut only specify
> U.S. Treasury obligations?


http://www.dor.state.ma.us/rul_reg/tir/tir_80_2.htm under
the "Federal and Other Entities" headings list which items
are not taxed in MA for interest.

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  #2  
Old 01-24-2005, 05:26 AM
David Woods, EA, ChFC, CLU
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Posts: n/a
Default Re: TaxCut & U.S. Treasury vs. U.S. Government

"Paul" <pphop868[at]yahoo.com> wrote:

- quote -

> TaxCut for the 2004 tax year tells me to enter the
> percentage of my dividends that are from "U.S. Treasury
> Obligations" for exclusion from Massachusetts state tax. Is
> it really only U.S. Treasury obligations that are excluded
> from MA state tax? Doesn't MA allow exclusion of interest
> and dividends from most U.S. debt obligations, including
> Treasury obligations? If so, why would TaxCut only specify
> U.S. Treasury obligations?


Perhaps you should ask TaxCut why they do things the way
they do?

--
David M. Woods, EA, ChFC, CLU
Woods Financial Services
Norwood, MA 02062
www.woods-financial.com

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  #1  
Old 01-24-2005, 03:50 AM
MTW
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Posts: n/a
Default Re: TaxCut & U.S. Treasury vs. U.S. Government

Paul wrote:

- quote -

> If so, why would TaxCut only specify
> U.S. Treasury obligations?


May I respectfully suggest that questions related to the
peculiarities of particular software products are NOT "tax
law" questions and, accordingly, should not be posted to
this newsgroup. Here is a link to a site that specifically
relates to TaxCut:

http://groups.yahoo.com/group/hrbTaxCut/

MTW

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Old 01-24-2005, 03:50 AM
Don Priebe
Guest
 
Posts: n/a
Default Re: TaxCut & U.S. Treasury vs. U.S. Government

- quote -

> TaxCut for the 2004 tax year tells me to enter the
> percentage of my dividends that are from "U.S. Treasury
> Obligations" for exclusion from Massachusetts state tax. Is
> it really only U.S. Treasury obligations that are excluded
> from MA state tax? Doesn't MA allow exclusion of interest
> and dividends from most U.S. debt obligations, including
> Treasury obligations? If so, why would TaxCut only specify
> U.S. Treasury obligations?


I don't know about Massachusetts, but New York has some
definite rules about which "US debt obligations" qualify
for an exclusion from NY tax.
See: http://www.tax.state.ny.us/pdf/memos/income/M79_6i.pdf
Maybe TaxCut is geared to the most restrictive exclusion
nation wide.

--
Don EA in Upstate NY

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  #-1  
Old 01-22-2005, 05:30 PM
Paul
Guest
 
Posts: n/a
Default TaxCut & U.S. Treasury vs. U.S. Government

TaxCut for the 2004 tax year tells me to enter the
percentage of my dividends that are from "U.S. Treasury
Obligations" for exclusion from Massachusetts state tax. Is
it really only U.S. Treasury obligations that are excluded
from MA state tax? Doesn't MA allow exclusion of interest
and dividends from most U.S. debt obligations, including
Treasury obligations? If so, why would TaxCut only specify
U.S. Treasury obligations?

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
 

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