Massachusetts Form 3M PDF Details

The Massachusetts Department of Revenue requires clubs, labor unions, political committees, taxable fraternal organizations, certain unincorporated homeowners associations, and similar entities not engaged in business for profit to file the Form 3M. This form, specifically designed for the 2020 tax year or for fiscal years beginning in 2020, details income taxation specific to these organizations. It meticulously captures information ranging from the club or organization's name, federal identification, the principal activity, to the caretaker of the organization's books, thereby ensuring a comprehensive account of the entity's financial status. The form also delineates sections for computation of tax, encompassing income such as interest from Massachusetts banks, dividends, capital gains, and specific adjustments for amended returns. Instructions included with the form guide organizations through the process of detailing their income, calculating taxes due on various forms of income including 5% income categories, taxable 12% capital gains, and taxes due to long-term capital gains. Moreover, it outlines the steps for organizations that need to adjust their returns due to federal changes or to file final returns. The form's design caters to the unique fiscal responsibilities of non-profit entities within Massachusetts, offering a structured method for these organizations to comply with state income tax regulations effectively.

QuestionAnswer
Form NameMassachusetts Form 3M
Form Length5 pages
Fillable?No
Fillable fields0
Avg. time to fill out1 min 15 sec
Other namesma form 3m 2020, massachusetts 3m, form 3m mass, form 3m massachusetts 2020

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Massachusetts Department of Revenue

 

 

 

 

 

 

 

Form 3M

 

 

 

 

 

Income Tax Return for Clubs and Other

 

 

 

 

Organizations not Engaged in Business for Profit

2020

 

 

 

 

 

 

 

For calendar year 2020 or taxable year beginning

 

2020 and ending

 

 

 

 

 

 

 

 

 

 

Name of organization

Federal Identification number

Phone number

 

 

 

 

 

 

 

 

 

 

 

Mailing address

 

 

 

 

 

 

 

 

 

 

 

 

 

 

City/Town

State

Zip

Date of organization

 

 

 

 

 

 

 

 

 

 

 

Organization’s books are in care of

 

 

Principal organization activity

 

 

 

 

 

 

 

 

 

 

 

Mailing address

 

 

 

 

 

 

 

 

 

 

 

 

 

 

City/Town

State

Zip

Phone number

 

 

 

 

 

 

 

 

 

 

 

Fill in if

 

 

 

 

 

 

● Amended return (see “Amended Return” in instructions)

● Amended return due to federal change

● Final return ● Filing Schedule TDS

 

 

 

 

 

 

 

 

Computation of tax

1 5.0% income, including interest from Massachusetts banks.* List sources and amounts . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 Interest and dividend income (from Massachusetts Schedule B, line 28). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Total 5.0% income. Add line 1 and line 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Tax on 5.0% income. Multiply line 3 by .05 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Taxable 12% capital gains (from Massachusetts Schedule B, line 29). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 6 Tax on 12% capital gains. Multiply line 5 by .12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 7 Tax on long-term capital gains (from Massachusetts Schedule D, line 17). Not less than 0) . . . . . . . . . . . . . . . . . . . . . . . . 7 8 Additional tax on installment sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 9 Total tax. Add lines 4, 6, 7 and 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

10 AMENDED RETURN ONLY. Overpayment from original return. Not less than 0. See instructions . . . . . . . . . . . . . . . . . 10 11 Total. Add lines 9 and 10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 12 2019 overpayment applied to your 2020 estimated tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 13 2020 Massachusetts estimated tax payments (do not include amount in line 12) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

Declaration

I declare under the pains and penalty of perjury that to the best of my knowledge, the information contained herein is accurate and complete.

Signature of appropriate officer

Print name

 

Date

Phone number

 

 

 

 

 

Title

Name of firm

 

 

PTIN or SSN

 

 

 

 

 

Signature of paid preparer

Print name

 

Date

Employer Identification number

 

 

 

 

 

Address of paid preparer

 

 

 

 

 

 

 

 

 

City/Town

State

Zip

 

Phone number

Fill this return with payment in full to: Massachusetts Department of Revenue, PO Box 7018, Boston, MA 02204.

2020 FORM 3M, PAGE 2

Name of organization

Federal Identification number

Computation of tax (cont’d.)

14 Payments made with extension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 15 AMENDED RETURN ONLY. Payments made with original return. Not less than 0. See instructions . . . . . . . . . . . . . . . 15 16 Total payments. Add lines 12 through 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16

17Overpayment. If line 11 is smaller than line 16, subtract line 11 from line 16. If line 11 is larger than line 16, go to

line 20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

18Amount of overpayment to be credited to your 2021 estimated tax.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

19 Amount of your refund. Subtract line 18 from line 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 20 Amount of tax due. If line 16 is smaller than line 11, subtract line 16 from line 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 21a M-2210 penalty ● Exception . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21a 21b Late file/pay penalties (see Form 1 instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21b 21 Total penalty. Add lines 21a and 21b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 22 Interest on unpaid balance (see Form 1 instructions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 23 Total payment due at time of filing. Add lines 20 through 22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21

2020 FORM 3M, PAGE 3

Name of organizationFederal Identification number

Schedule B. Interest, dividends and certain capital gains and losses

5 Fill in oval if showing a loss

 

1 Enter taxable interest (other than interest from Massachusetts banks) received during the year . . . . . . . . . . . . . . . . . . . . 1 2 Enter taxable dividends received during the year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Add lines 1 and 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

4Enter taxable interest (other than interest from Massachusetts banks) and dividends from all partnerships and

non-Massachusetts estates and trusts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

5Subtotal. Add lines 3 and 4. If you have no short-term capital gains or losses, long-term gains on collectibles and pre-1996 installment sales, carryover short-term losses from prior years, or net long-term capital losses, omit lines 6 through 27.

Enter this amount in line 28 and on Form 3M, line 2. Omit lines 29 and 30. Otherwise complete Schedule B. . . . . . . . . . . 5

6 Short-term capital gains (included in U.S. Schedule D, lines 1 through 5, col. h) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

7Long-term capital gains on collectibles and pre-1996 installment sales (from Massachusetts Schedule D, line 11;

see Form 1 instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

8 Add lines 6 and 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 9 Short-term capital losses (included in U.S. Schedule D, lines 1 through 5, col. h) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 10 Prior short-term losses for years beginning after 1981 (from 2019 Massachusetts Schedule B, line 30) . . . . . . . . . . . . . 10

11Combine lines 8 through 10. If 0 or greater, omit lines 12 through 15 and enter this amount in line 16.

If the total is a loss, go to line 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

12Short-term losses applied against interest and dividends. Enter the smaller of line 5 or line 11 (as a positive amount).

Not more than $2,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

13 Subtotal. Combine lines 11 and 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 14 Short-term capital losses applied against long-term capital gains (see instructions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

15Short-term losses available for carryover in 2021. Combine lines 13 and 14 and enter result here and in line 30,

omit lines 16 through 20 and complete lines 21 through 29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15

16 Short-term gains and long-term gains on collectibles. Enter amount from line 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 17 Long-term capital losses applied against short-term capital gains (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 18 Subtotal. Subtract line 17 from line 16. Enter result here. If line 18 is 0, omit line 19, and enter 0 in line 20 . . . . . . . . . . . 18

19Long-term gains deduction. Complete only if lines 7 and 18 are greater than 0. If line 7 shows a gain, enter 50%

of line 7 minus 50% of losses in lines 9, 10 and 17, but not less than 0. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19

20 Short-term gains after long-term gains deduction. Subtract line 19 from line 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 21 Enter the amount from line 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 22 Short-term losses applied against interest and dividends. Enter the amount from line 12 . . . . . . . . . . . . . . . . . . . . . . . . . 22 23 Subtotal. Subtract line 22 from line 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 24 Long-term losses applied against interest and dividends (see instructions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 25 Adjusted interest and dividends. Subtract line 24 from line 23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 26 Enter the amount from line 20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 27 Adjusted gross interest, dividends and certain capital gains and losses. Add lines 25 and 26. Not less than 0. . . . . . . . . 27

28If line 27 is greater than or equal to line 5, enter the amount from line 5 here and on Form 3M, line 2. If line 27 is

less than line 5, enter line 27 here and on Form 3M, line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28

29 Taxable 12% capital gains. Subtract line 28 from line 27. Not less than 0. Enter result here and on Form 3M, line 5 . . . . 29 30 Available short-term losses for carryover in 2021. Enter amount from line 15 only if it is a loss. . . . . . . . . . . . . . . . . . . . . 30

2020 FORM 3M, PAGE 4

Name of organization

Federal Identification number

 

Schedule D. Long-term capital gains and losses excluding collectibles

 

 

 

 

5 Fill in oval if showing a loss

Attach copy of U.S. Schedule D.

 

 

1

Enter amounts included in U.S. Schedule D, lines 8a and 8b, col. h

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. 1

2

Enter amounts included in U.S. Schedule D, line 9, col. h

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. 2

3

Enter amounts included in U.S. Schedule D, line 10, col. h

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. 3

4

Enter amounts included in U.S. Schedule D, line 11, col. h

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. 4

5

Enter amounts included in U.S. Schedule D, line 12, col. h

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. 5

6

Enter amounts included in U.S. Schedule D, line 13, col. h

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. 6

7

Carryover losses from prior years (see instructions)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. 7

8

Combine lines 1 through 7

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. 8

9

Massachusetts differences, if any (see Form 1 instructions; attach additional statement)

. 9

10

Massachusetts 2020 gains or losses. Exclude/subtract line 9 from line 8

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

10

11Long-term gains on collectibles and pre-1996 installment sales (see Form 1 instructions). Also, enter this amount in

Schedule B, line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

12 Subtotal. Subtract line 11 from line 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 13 Capital losses applied against capital gains (see instructions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

14Subtotal. If line 12 is greater than 0, subtract line 13 from line 12. If line 12 is less than 0, combine lines 12 and

13. If line 14 is a loss, see instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

15 Long-term capital losses applied against interest and dividends (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 16 Taxable long-term capital gains. Combine lines 14 and 15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 17 Tax on long-term capital gains. Multiply line 16 by .05. Not less than 0. Enter result here and on Form 3M, line 7 . . . . . . 17 18 Available losses for carryover in 2021. Enter amount from Schedule D, line 16, only if it is a loss . . . . . . . . . . . . . . . . . . . 18

Form 3M Instructions

This form is solely for the use of clubs, labor unions, political committees, taxable fraternal organizations, certain unincorporated homeowners as- sociations and all other similar organizations not engaged in business for profit, and consequently having only taxable dividends, interest, capital gains, Massachusetts savings deposit interest and other miscellaneous income. If such an organization has taxable business or other income, even if the organization is not a partnership, the return should be made on Form 3, Partnership Return of Income, and each member must in- clude his/her share by class of income on his/her individual income tax return. Unincorporated exempt organizations that file U.S. Forms 990 or 990-T should not file Massachusetts Form 3M or Form 3. Instead, those organizations that file U.S. Form 990-T and have unrelated business tax- able income should file Massachusetts Form 990-T-62. For rules that apply to unincorporated homeowners associations, see Technical Infor- mation Release 10-3.

Schedule B, Line 14 and Schedule D, Line 13

If Schedule B, line 13 is a loss and Schedule D, line 12 is a positive amount, enter the smaller of Schedule B, line 13 (considered as a pos- itive amount) or Schedule D, line 12 on Schedule B, line 14 and on Schedule D, line 13.

Schedule B, Line 17 and Schedule D, Line 13

If Schedule B, line 16 is a positive amount and Schedule D, line 12 is a loss, enter the smaller of Schedule B, line 16 or Schedule D, line 12 (con- sidered as a positive amount) on Schedule B, line 17 and on Schedule D, line 13.

Schedule B, Line 24 and Schedule D, Line 15

If Schedule B, line 23 is a positive amount and Schedule D, line 14 is a loss, you must complete a pro forma version of the Long-Term Capital Losses Applied Against Interest and Dividends Worksheet found in the Form 1 instruction booklet. When completing the worksheet, substitute Schedule B, line 21 (Form 3M) for Schedule B, line 29 (Form 1); Sched- ule B, line 22 (Form 3M) for Schedule B, line 30 (Form 1); Schedule D, line 14 (Form 3M) for Schedule D, line 15 (Form 1); Schedule B, line 24 (Form 3M) for Schedule B, line 32 (Form 1); and Schedule D, line 15 (Form 3M) for Schedule D, line 16 (Form 1).

Schedule D, Line 7

If you have a carryover loss from a prior year, enter in line 7 the amount of carryover losses from your 2017 Schedule D, line 17.

Schedule D, Line 14

If Schedule D, line 14 is a loss and Schedule B, line 16 is 0 or greater and Schedule B, line 23 is a positive amount, complete line 15. If Schedule D, line 14 is a loss and Schedule B, line 13 is 0 or less, omit Schedule D, line 15, enter the amount from Schedule D, line 14 in Schedule D, line 16, omit Schedule D, line 17 and enter the amount from Schedule D, line 16 in Schedule D, line 18 and enter 0 on Form 3M, line 7.

Where to file

Mail Form 3M and all accompanying schedules to Massachusetts Department of Revenue, PO Box 7018, Bos ton, MA 02204.

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