1.423 -Commuter Deduction
Item | Description | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
---|---|---|---|---|---|---|
1.423 | Commuter Deduction
(Note: item 1.423 was formerly the temporary Tuition and Fees Deduction) For tax years beginning on or after January 1, 2006, individuals may deduct certain commuting costs paid in excess of $150 for:
The total amount deducted may not exceed $750 per individual. Amounts paid must be reduced by any amounts reimbursed or otherwise deductible. Origin: M.G.L. Chapter 62, Sec. 3 (B) (a) (15) Estimate: $7.6 |
6.6 | 7.8 | 7.1 | 7.4 | 7.6 |
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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