Origin: Due to Massachusetts' conformity with IRC § 108(a)(1), Massachusetts excludes from gross income the discharge of qualified principal residence indebtedness. The maximum amount excludable from Massachusetts gross income as discharged qualified principal residence indebtedness is $750,000 ($375,000 if married filing separately)
Origin: IRC § 108(a)(1)(E)
Tax Type
Tax Expenditure
Item Number
Item Name
Description
Origin
FY2022
FY2023
FY2024
FY2025
FY2026
Personal Income Tax
Exclusions from Gross Income
1.044
Exclusion From Gross Income Of Discharged Qualified Principal Residence Indebtedness
Due to Massachusetts' conformity with IRC § 108(a)(1), Massachusetts excludes from gross income the discharge of qualified principal residence indebtedness. The maximum amount excludable from Massachusetts gross income as discharged qualified principal residence indebtedness is $750,000 ($375,000 if married filing separately)
<a href="https://www.law.cornell.edu/uscode/text/26/108" target="_blank">IRC § 108(a)(1)(E)</a>
1.1
1.2
1.2
1.2
0.3
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