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1.414 -Tuition Deduction (Over 25% of Income)
Item | Description | FY2011 | FY2012 | FY2013 |
---|---|---|---|---|
1.414 | Tuition Deduction (Over 25% of Income)
A deduction is allowed for tuition payments paid, on behalf of a filer or their dependent, to a two-or four-year college leading to a degree or certificate. The deduction is equal to the amount by which the net tuition payments exceed 25% of the filer's Massachusetts AGI. See TIR 97-13 for more information. Origin: M.G.L. c. 62, S. 3B(a)(11),(12) Estimate: $35.9 |
28 | 31.7 | 35.9 |
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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