Massachusetts S1761 aims to provide income tax rental deductions to certain resident shareholders of housing cooperatives.
Massachusetts S1761 seeks to amend the state's General Laws to allow income tax rental deductions for resident shareholders of housing cooperatives. This deduction is available to those who have lived in their cooperative unit throughout the tax year and have not claimed a deduction for real estate taxes or mortgage interest on their federal income tax return. The bill targets shareholders of housing cooperatives organized under chapter 156B or chapter 157 of the General Laws.
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