1.425 -Student Interest Loan Deduction

Item	Description	FY2008	FY2009	FY2010
1.425	Student Interest Loan Deduction Massachusetts allows as an option the federal "interest on education loans" deduction. The federal deduction phases out based on modified AGI. Alternatively, Massachusetts allows a deduction of undergraduate student loan interest. Filers may only choose one of these deductions. Origin: M.G.L. c. 62, S. 2(d)(1) and I.R.C. secs. 62(a)(17), ss 221. Estimate: $19.5	15.6	17.4	19.5

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.