Massachusetts H3046 provides a $4,000 income tax exemption for taxpayers supporting elderly relatives at home.

Massachusetts H3046 amends the state's tax code to offer a $4,000 income tax exemption for taxpayers who provide more than half the support for an elderly relative aged 70 or older, who lives with the taxpayer for over six months in the taxable year. The exemption is available to taxpayers with an adjusted gross income not exceeding $40,000 for the year in which the exemption is claimed. The bill's provisions will take effect starting with taxable years beginning January 1, 2027.

Massachusetts H3046 provides a $4,000 income tax exemption for taxpayers supporting elderly relatives at home.

Massachusetts H3046 amends the state's tax code to offer a $4,000 income tax exemption for taxpayers who provide more than half the support for an elderly relative aged 70 or older, who lives with the taxpayer for over six months in the taxable year. The exemption is available to taxpayers with an adjusted gross income not exceeding $40,000 for the year in which the exemption is claimed. The bill's provisions will take effect starting with taxable years beginning January 1, 2027.