Governor Deval Patrick's Budget Recommendation - House 2 Fiscal Year 2011

Governor's Budget Recommendation FY 2011

1.425 -Student Interest Loan Deduction


Item DescriptionFY2009 FY2010 FY2011
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:  $21.3
17 19 21.3

Key:

ORIGIN  
IRCFederal 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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