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Massachusetts Free Printable  for 2021 Massachusetts Partnership Return

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Partnership Return
Form 3

Fill out in black ink. 2020 Massachusetts Department of Revenue Form 3 Partnership Return of Income Tax year beginning Calendar year filers enter 01–01–2020 and 12–31–2020 below; fiscal year filers enter appropriate dates MM D D Y Y Y Y MM D D Y Y Y Y NAME OF PARTNERSHIP Tax year ending FEDERAL IDENTIFICATION NUMBER (FID) MAILING ADDRESS CITY/TOWN/POST OFFICE STATE ZIP + 4 C/O ADDRESS CITY/TOWN/POST OFFICE STATE ZIP + 4 A. PRINCIPAL BUSINESS ACTIVITY B. PRINCIPAL PRODUCT OR SERVICE C/O NAME C. BUSINESS CODE NUMBER D. DATE BUSINESS STARTED  MM D D Y Y Y Y 0 0 E. TOTAL ASSETS  F. Fill in if amended return (see instructions)  G. Reason for filing (fill in all that apply) H. Accounting method (fill in one)   Cash   Amended return due to federal change   Technical termination   Filing Schedule TDS   Final return   Name change   Common-trust fund   Enclosing Schedule FCI  Accrual   Initial return  Other I. How many Schedules 3K-1 are attached to this return? (Attach one Schedule 3K-1 for each person who was a partner at any time during tax year). . . . . . . . . . . . . . Note: Partnerships with more than 25 partners must file electronically. See TIR 09-18 for more information. J. Fill in if you are a member of a lower-tier entity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . K. Fill in if this partnership is an investment partnership as defined in the Pass-Through Entity Withholding Reg., 830 CMR 62B.2.2(2). . . . . . . . . . . . . . . . . . . . . . . . . . . L. Fill in if this partnership elected out of the federal centralized partnership audit regime this tax year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PART 1. MASSACHUSETTS INFORMATION 0 0 1 Gross income (from worksheet in instructions). See Partnership E-File Mandate Worksheet. . . . . . . . . . . . . . . . . . . . . . . . 1 2 Fill in if this partnership is engaged exclusively in buying, selling, dealing in or holding securities on its own behalf and not as a broker. . . . . . . . . . . . . . . . . . . . . . 3 Fill in if this partnership is organized as a Limited Liability Company and treated as a partnership for federal income tax purposes. . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Fill in if this partnership is a publicly traded partnership as defined in IRC § 469(k)2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Fill in if there has been a sale or transfer or liquidation of a partnership interest during the period reported on this return. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Income apportionment percentage (from line 46 of Income Apportionment Schedule, or 100%, whichever applies). . . . . . . . . . . . . . . 6 SIGN HERE. Under penalties of perjury, I declare that to the best of my knowledge and belief this return and enclosures are true, correct and complete. SIGNATURE OF GENERAL PARTNER DATE PRINT PAID PREPARER’S NAME PAID PREPARER’S SSN OR PTIN PAID PREPARER’S PHONE PAID PREPARER’S EIN  / / TITLE DATE  / / MAY DOR DISCUSS THIS RETURN WITH THE PREPARER? PAID PREPARER’S SIGNATURE  / / Yes NAME OF DESIGNATED TAX MATTERS PARTNER DATE IDENTIFYING NUMBER OF TAX MATTERS PARTNER BE SURE TO COMPLETE ALL 10 PAGES OF FORM 3. MAIL TO MASSACHUSETTS DEPARTMENT OF REVENUE, PO BOX 7017, BOSTON, MA 02204. IS PAID PREPARER SELF-EMPLOYED? Yes 2020 FORM 3, PAGE 2 NAME OF PARTNERSHIP FEDERAL IDENTIFICATION NUMBER 7 Fill in if any partners in this partnership file as part of a nonresident composite income tax return. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . If filled in, enter Federal Identification number under which the composite return is filed . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Number of partners included in composite return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Fill in if this partnership is under audit by the IRS, or has been audited in a prior year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 9 Withholding amount. Add all Schedules 3K-1, line 37. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 10 Payments made with composite return. Add all Schedules 3K-1, line 38. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 0 0 11 Credit for amounts withheld by lower-tier entities. Add all Schedules 3K-1, line 39 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 0 0 12 Payments made with a composite filing by lower-tier entities. Add all Schedules 3K-1, line 40. . . . . . . . . . . . . . . . . . . . . 12 0 0 5 IF A LOSS, MARK AN X IN BOX MASSACHUSETTS ORDINARY INCOME OR LOSS 13 Ordinary income or loss (from U.S. Form 1065, line 22). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 0 0 14 Other income or loss (from U.S. Form 1065, Schedule K, line 11) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 0 0 15 State, local and foreign income and unincorporated business taxes or excises. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 0 0 16 Subtotal. Add lines 13 through 15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 0 0 17 IRC § 1231 gains or losses included in line 16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 0 0 18 Subtotal. Subtract line 17 from line 16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 0 0 19 Adjustments (if any) to line 18. Enter the applicable line number from U.S. Form 1065 and the amount of the adjustment. a. Line number    Amount  0 0 b. Line number    Amount  0 0 Total adjustments  19 0 0 20 Massachusetts ordinary income or loss. Combine lines 18 and 19. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 0 0 21 Net income or loss from rental real estate activities (from U.S. Form 1065, Schedule K, line 2) . . . . . . . . . . . . . . . . 21 0 0 22 Adjustments (if any) to line 21. Enter the applicable line number from U.S. Form 8825 and the amount of the adjustment. a. Line number    Amount  0 0 b. Line number    Amount  0 0 Total adjustments  22 0 0 23 Adjusted Massachusetts net income or loss from rental real estate activities. Combine lines 21 and 22. . . . . . . . . . 23 0 0 24 Net income or loss from other rental activities (from U.S. Form 1065, Schedule K, line 3c) . . . . . . . . . . . . . . . . . . . 24 0 0 25 Adjustments (if any) to line 24. Enter the applicable line number from U.S. Form 1065 and the amount of the adjustment. a. Line number    Amount  0 0 b. Line number    Amount  0 0 Total adjustments  25 0 0 26 Adjusted Massachusetts net income or loss from other rental activities. Combine lines 24 and 25. . . . . . . . . . . . . . 26 0 0 2020 FORM 3, PAGE 3 NAME OF PARTNERSHIP FEDERAL IDENTIFICATION NUMBER U.S. INTEREST, DIVIDEND AND ROYALTY INCOME 27 U.S. interest, dividend and royalty income, not including capital gains (from U.S. Form 1065, Schedule K, lines 5, 6a and 7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 0 0 28 Interest on U.S. debt obligations included in line 27. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 0 0 29 5.0% interest from Massachusetts banks included in line 27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 0 0 30 Interest (other than Massachusetts bank interest) and dividend income included in line 27 . . . . . . . . . . . . . . . . . . . . . . . 30 0 0 31 Non-Massachusetts state and municipal bond interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 0 0 32 Royalty income included in line 27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 0 0 5 IF A LOSS, MARK AN X IN BOX MASSACHUSETTS CAPITAL GAINS AND LOSSES 33 Total short-term capital gains included in U.S. Form 1065, Schedule D, line 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 0 0 34 Total short-term capital losses included in U.S. Form 1065, Schedule D, line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 0 0 35 Gain on the sale, exchange or involuntary conversion of property used in a trade or business and held for one year or less (from U.S. Form 4797). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 0 0 36 Loss on the sale, exchange or involuntary conversion of property used in a trade or business and held for one year or less (from U.S. Form 4797). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 0 0 37 Net long-term capital gain or loss (from U.S. Form 1065, Schedule K, line 9a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 0 0 38 Long-term IRC § 1231 gains or losses not included in line 37 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 0 0 39 Long-term gains on collectibles and pre-1996 installment sales included in line 37. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 0 0 40 Adjustments to lines 33 through 39, including any gain or loss from Massachusetts fiduciaries. Enter the line number and amount from U.S. Form 1065 to which the adjustment applies. a. Line number    Amount  0 0 b. Line number    Amount  0 0 Total adjustments  40 0 0 2020 FORM 3, PAGE 4 NAME OF PARTNERSHIP FEDERAL IDENTIFICATION NUMBER Income Apportionment Schedule 41 Complete the Income Apportionment Schedule only if: there is one or more corporate or nonresident individual partners; income was derived from business activities in another state; and such activities provide that state with the jurisdiction to levy an income tax or a franchise tax. BUSINESS LOCATIONS OUTSIDE OF MASSACHUSETTS CITY AND STATE SPECIFY WHETHER FACTORY, SALES OFFICE, WAREHOUSE, CONSTRUCTION SITE, ETC. ACCEPTS ORDERS REGISTERED TO DO BUSINESS IN STATE APPORTIONMENT FACTORS 42 Tangible property a. Property owned (averaged). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Massachusetts    Worldwide  b. Property rented (capitalized). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Massachusetts    Worldwide  c. Total property owned and rented. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Massachusetts    Worldwide  d. Tangible property apportionment percentage. Divide Massachusetts total by worldwide total (from line 42c) . . . . . . . . . . . . . . . . 42d 43 Payroll a. Total payroll. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Massachusetts    Worldwide  b. Payroll apportionment percentage. Divide Massachusetts total payroll by worldwide total payroll (from line 43a). . . . . . . . . . . . . 43b 44 Sales a. Tangibles. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Massachusetts    Worldwide  b. Services (including mutual fund sales) . . . . . . . . . . . . . . . . . . . . . . . . Massachusetts    Worldwide  c. Rents and royalties. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Massachusetts    Worldwide  d. Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Massachusetts    Worldwide  e. Total sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Massachusetts    Worldwide  f. Sales apportionment percentage. Divide Massachusetts total sales by worldwide total sales (from line 44e). . . . . . . . . . . . . . . . . . 44f 45 Apportionment percentage. Add lines 42d, 43b and (44f x 2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45 46 Massachusetts apportionment percentage. Divide line 45 by 4. Note: If an apportionment factor is inapplicable, divide by the number of times each applicable factor is used (see instructions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46 FILES RETURNS IN STATE 2020 FORM 3, PAGE 5 NAME OF PARTNERSHIP FEDERAL IDENTIFICATION NUMBER PARTNERSHIP CREDITS 47 Credits available a. Taxes due to another jurisdiction (full-year residents and part-year residents only). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47a b. Other credits (from Schedule CMS). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47b 48 Credit recapture (from Schedule CRS). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48 MISCELLANEOUS FEDERAL INFORMATION 0 0 49 Gross receipts or sales (from Part 2, Federal Information, line 1a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49 0 0 50 Total income or loss (from Part 2, Federal Information, line 8). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50 0 0 51 Bad debts (from Part 2, Federal Information, line 12). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51 0 0 52 Interest (from Part 2, Federal Information, line 15). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52 0 0 53 Fill in if during the tax year the partnership had any debt that was cancelled, was forgiven, or had the terms modified so as to reduce the principal amount of the debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54 Investment interest expense (from Part 2, Federal Information, line 50b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54 0 0 2020 FORM 3, PAGE 6 NAME OF PARTNERSHIP FEDERAL IDENTIFICATION NUMBER Part 2. Federal Information Income. From U.S. Form 1065. 5 Fill in oval if showing a loss Note: Include only trade or business income and expenses on lines 1a through 22. See instructions. 1a Gross receipts or sales. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1a 1b Returns and allowances. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1b 1c Total. Subtract line 1b from line 1a. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1c   2 Cost of goods sold (attach Form 1125-A). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Gross profit. Subtract line 2 from line 1c. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3   4 Ordinary income or loss from other partnerships, estates and trusts (attach statement). . . . . . . . . . . . . . . . . . . . . . . . . 4   5 Net farm profit or loss (from U.S. Form 1040, Schedule F). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5   6 Net gain or loss (from U.S. Form 4797, Part II, line 17; attach U.S. Form 4797). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6   7 Other income or loss (attach statement). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7   8 Total income or loss. Combine lines 3 through 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8   Deductions. From U.S. Form 1065. See instructions for limitations. 9 Salaries and wages (other than to partners; less employment credits) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 10 Guaranteed payments to partners . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 11 Repairs and maintenance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 12 Bad debts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 13 Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 14 Taxes and licenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 15 Interest. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 16a Depreciation (from U.S. Form 4562). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16a 16b Less depreciation reported on Form 1125-A and elsewhere on the return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16b 16c Total. Subtract line 16b from line 16a. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16c 17 Depletion (do not deduct oil and gas depletion). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 18 Retirement plans, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 19 Employee benefit programs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 20 Other deductions (attach statement) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 21 Total deductions. Add lines 9 through 20 (do not include lines 16a and 16b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 22 Ordinary business income or loss. Subtract line 21 from line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22   2020 FORM 3, PAGE 7 NAME OF PARTNERSHIP FEDERAL IDENTIFICATION NUMBER Part 2. Federal Information (cont’d.) Cost of goods sold. From U.S. Form 1125-A (see instructions). 23 Inventory at beginning of year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 24 Purchases less cost of items withdrawn for personal use . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 25 Cost of labor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 26 Additional IRC § 263A costs (attach statement). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 27 Other costs (attach statement). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 28 Total. Add lines 23 through 27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 29 Inventory at end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 30 Cost of goods sold. Subtract line 29 from line 28. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 Other information. From U.S. Form 1065, Schedule B. 31 Type of entity filing this return (fill in one): Domestic limited partnership Domestic general partnership Domestic limited liability partnership Domestic limited liability company REIT Foreign partnership Other (specify)_____________________________________________________________________________________________________ 32 Fill in if at any time during the tax year any partner in the partnership was a disregarded entity, a partnership (including an entity treated as a ­partnership), a trust, an S corporation, an estate (other than an estate of a deceased partner) or a nominee or similar person. . . . . . . . . . . . . 33 Fill in if this partnership is a publicly traded partnership as defined in IRC § 469(k)(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 Fill in if during the tax year the partnership had any debt that was cancelled, was forgiven, or had the terms modified so as to reduce the ­principal amount of the debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 Fill in if the partnership is making, or had previously made (and not revoked), an IRC § 754 election (see instructions for details regarding an IRC §754 election.). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 Fill in if the partnership made for this tax year an optional basis adjustment under IRC § 743(b) or 734(b). If Yes, attach a statement showing the computation and allocation of the basis adjustment (see instructions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 Fill in if during the current or prior tax year the partnership engaged in a like-kind exchange or distributed any property received in a like-kind exchange, or contributed such property to another entity (other than entities wholly-owned by the partnership throughout the tax year) . . . . . . . Partners’ Distributive Share Items. From U.S. Form 1065, Schedule K. Income or loss 38 Ordinary business income or loss. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38   39 Net rental real estate income or loss (from U.S. Form 8825). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39   40a Other gross rental income or loss. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40a   40b Expenses from other rental activities (attach statement). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40b 40c Other net rental income or loss. Subtract line 40b from line 40a. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40c   41 Guaranteed payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 42 Interest income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 43a Ordinary dividends. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43a 43b Qualified dividends. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43b 44 Royalties. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44 45 Net short-term capital gain or loss (from U.S. Form 1065, Schedule D). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45   5 Fill in oval if showing a loss 2020 FORM 3, PAGE 8 NAME OF PARTNERSHIP FEDERAL IDENTIFICATION NUMBER Partners’ Distributive Share Items (cont’d.) 5 Fill in oval if showing a loss 46a Net long-term capital gain or loss (from U.S. Form 1065, Schedule D). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46a   46b Collectibles (28%) gain or loss. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46b 46c Unrecaptured IRC § 1250 gain (attach statement). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46c 47 Net IRC § 1231 gain or loss (from U.S. Form 4797). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47   48 Other income or loss (see instructions). Type_______________________________________________________   48   Deductions 49 IRC § 179 deduction (from U.S. Form 4562). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49 50a Contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50a 50b Investment interest expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50b 50c IRC §59(e)(2) expenditures. Type______________________________________________________________  50c 50d Other deductions (see instructions). Type________________________________________________________  50d Other information 51a Tax-exempt interest income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51a 51b Other tax-exempt income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51b 51c Nondeductible expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51c 52a Distributions of cash and marketable securities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52a 52b Distributions of other property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52b 53a Investment income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53a 53b Investment expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53b 53c Other items and amounts (attach statement). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53c Analysis of Net Income or Loss 54 Net income or loss. Combine U.S. Form 1065, Schedule K, lines 1 through 11. From the result, subtract the sum of U.S. Form 1065, Schedule K, lines 12 through 13d, and 16p. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54   Individual Individual Exempt Nominee / 55 Analysis by partner type Corporate (active) (passive) Partnership organization other a General partners . . . . . b Limited partners. . . . . . 2020 FORM 3, PAGE 9 NAME OF PARTNERSHIP FEDERAL IDENTIFICATION NUMBER Balance sheets per books From U.S. Form 1065, Schedule L. Assets – Beginning of tax year – – End of tax year – a. b. c. d. 56 Cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57a Trade notes and accounts receivable. . . . . . . . . . . . . . . . . . . . 57b Less allowance for bad debts. . . . . . . . . . . . . . . . . . . . . . . . . . 58 Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59 U.S. government obligations. . . . . . . . . . . . . . . . . . . . . . . . . . . . 60 Federally tax-exempt securities . . . . . . . . . . . . . . . . . . . . . . . . . 61 Other current assets (attach statement). . . . . . . . . . . . . . . . . . . 62a Loans to partners (or persons related to partners). . . . . . . . . . 62b Mortgage and real estate loans. . . . . . . . . . . . . . . . . . . . . . . . 63 Other investments (attach statement). . . . . . . . . . . . . . . . . . . . . 64a Buildings and other depreciable assets. . . . . . . . . . . . . . . . . . b Less accumulated depreciation . . . . . . . . . . . . . . . . . . . . . . . . 65a Depletable assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65b Less accumulated depletion. . . . . . . . . . . . . . . . . . . . . . . . . . . 66 Land (net of any amortization) . . . . . . . . . . . . . . . . . . . . . . . . . . 67a Intangible assets (amortizable only). . . . . . . . . . . . . . . . . . . . . 67b Less accumulated amortization. . . . . . . . . . . . . . . . . . . . . . . . 68 Other assets (attach statement). . . . . . . . . . . . . . . . . . . . . . . . . 69 Total assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Liabilities and capital a. b. c. d. 70 Accounts payable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71 Mortgages, notes, bonds payable in less than one year. . . . . . . 72 Other current liabilities (attach statement) . . . . . . . . . . . . . . . . . 73 All nonrecourse loans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74a Loans from partners (or persons related to partners). . . . . . . 74b Mortgages, notes, bonds payable in one year or more . . . . . . 75 Other liabilities (attach statement) . . . . . . . . . . . . . . . . . . . . . . . 76 Partners’ capital accounts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77 Total liabilities and capital. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2020 FORM 3, PAGE 10 NAME OF PARTNERSHIP FEDERAL IDENTIFICATION NUMBER Reconciliation of income or loss per books with income or loss per return From U.S. Form 1065, Schedule M-1. Note: If filing U.S. Form 1065, Schedule M-3, you still must complete this section. 78 Net income or loss per books. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78   79 Income included in Schedule K, lines 1, 2, 3c, 5, 6a, 7, 8, 9a, 10 and 11, not recorded on books this year attach statement). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 79 80 Guaranteed payments (other than health insurance). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80 81 Expenses recorded on books this year not included in Schedule K, lines 1 through 13d and 16p (attach statement) .81 a Depreciation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 81a b Travel and entertainment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 81b 82 Add lines 78 through 81 (do not include lines 81a and 81b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 82   83 Income recorded on books this year not included in Schedule K, lines 1 through 11 (attach statement). . . . . . . . . . . 83 a Federally tax-exempt interest. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83a 84 Deductions included in Schedule K, lines 1 through 13d and 16p, not charged against book income this year (attach statement). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84 a Depreciation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84a 85 Add lines 83 and 84 (do not include lines 83a and 84a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85 86 Income or loss. Subtract line 85 from line 82 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 86   Analysis of partners’ capital accounts. From U.S. Form 1065, Schedule M-2. 87 Balance as of beginning of year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 87 88a Capital contributed: cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 88a b Capital contributed: property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 88b 89 Net income or loss per books. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89   90 Other increases (attach statement) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90 91 Add lines 87 through 90. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91   92a Distributions: cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 92a b Distributions: property. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 92b 93 Other decreases (attach statement). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 93 94 Add lines 92a, 92b and 93 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94 95 Balance at end of year. Subtract line 94 from line 91. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 95   5 Fill in oval if showing a loss
Extracted from PDF file 2020-massachusetts-form-3.pdf, last modified October 2020

More about the Massachusetts Form 3 Corporate Income Tax Tax Credit TY 2020

We last updated the Partnership Return in February 2021, so this is the latest version of Form 3, fully updated for tax year 2020. You can download or print current or past-year PDFs of Form 3 directly from TaxFormFinder. You can print other Massachusetts tax forms here.

Related Massachusetts Corporate Income Tax Forms:

TaxFormFinder has an additional 126 Massachusetts income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Massachusetts Form 3.

Form Code Form Name
Form 3M Income Tax Return for Clubs and Other Organizations
Form M-1310 Statement of Claimant to Refund Due a Deceased Taxpayer
Form 355 Massachusetts Business or Manufacturing Corporation
Form M-8453 Individual Income Tax Declaration for Electronic Filing
Form 355-ES Corporate Estimated Tax Payment Vouchers
Form M-8453C Corporate Tax Declaration for Electronic Filing
Form 355S-PV Massachusetts Corporate Payment Voucher
Form 355SBC Small Business Corporation Excise Return
Schedule 3K-1 Partner's Distributive Share
Form 355U Excise for Taxpayers Subject to Combined Filing

Download all MA tax forms View all 127 Massachusetts Income Tax Forms


Form Sources:

Massachusetts usually releases forms for the current tax year between January and April. We last updated Massachusetts Form 3 from the Department of Revenue in February 2021.

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Form 3 is a Massachusetts Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Massachusetts Form 3

We have a total of nine past-year versions of Form 3 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:



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