Article: 50336

Overview

If you received payments from the sale of property through an installment sale agreement and realized a long-term capital gain or loss, you must report this income on your Massachusetts tax return. This is typically relevant if the original sale qualified as a long-term transaction and was structured to receive payments over two or more tax years.

Generally, you should complete this form if you:

• Had a long-term capital gain or loss from an installment sale, and

• Received installment payments during the current tax year for that sale.

• This applies to property held for more than one year prior to the sale.

Add Long-Term Capital Gains/Losses – Installment Sales

To add the Long-Term Capital Gains/Losses – Installment Sales:

1. Go to State Taxes.

2. Click I’d like to see the forms I’ve filled out or search for a form.

3. Select Massachusetts.

4. Click on the General tab.

5. Click on Long-Term Capital Gains/Losses – Installment Sales to add and open the form.

6. Enter your information and click Save.

Further Information

For detailed information, refer to the 2024 Massachusetts Form 1 Instructions.