1.411 -Rent Deduction
Item | Description | FY2010 | FY2011 | FY2012 |
---|---|---|---|---|
1.411 | Rent Deduction
Renters are able to deduct against Part B income one-half of the rent paid for a principal residence located in Massachusetts up to a maximum deduction of $3,000 per year. This maximum was last raised in tax year 2001. Origin: M.G.L. c. 62, S. 3B(a)(9) Estimate: $120.7 |
114.9 | 117.8 | 120.7 |
Key:
ORIGIN | |
IRC | Federal Internal Revenue Code (26 U.S.C.) |
---|---|
U.S.C | United States Code |
M.G.L. | Massachusetts General Laws |
Rev. Rul.; C.B. | Revenue Ruling; Cumulative Bulletin of the U.S. Treasury |
ESTIMATES | All estimates are in $ millions. |
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