Check with your state to see if they have a similar deduction program.
NEW! Annual Tax Deductible Toll Payments
2008 usage will be posted after Jan. 31st
The Massachusetts Legislature has enacted and codified a personal income tax deduction for certain commuter expenses:
A deduction is allowed from Part B adjusted gross income for tolls paid through a Fast Lane account or for weekly or monthly transit commuter passes for Massachusetts Bay Transit Authority transit, bus, commuter rail or commuter boat, not including amounts reimbursed by an employer or otherwise. In the case of a single person or a married person filing a separate return or a head of household, this deduction shall apply only to the portion of the expended amount that exceeds $150, and the total amount deducted shall not exceed $750. In the case of a married couple filing a joint return, this deduction shall apply only to the portion of the amount expended by each individual that exceeds $150, and the total amount deducted shall not exceed $750 for each individual.
If you have questions about the FAST LANE Tax Deduction, please visit the Massachusetts Department of Revenue Web Site or call DOR Service Center at 1-800-392-6089.
Have a link to this?
You have to sign in with your account number and pin, you'll see the "new" topic in red lettering.
Your expenditures for 2008 won't show up on the drop down list until Jan. 31st.
I believe you can take your expenditures for a several years back on this years return, you're accountant will know for sure. Just print out the info and take it along with you when you file.
Here you go (it's a mouthful):
If you have problems, go to the Massachusetts DOR website at http://www.mass.gov/?pageID=dorhomepage&L=1&L0=Home&sid=Ador and just do a search for Fast Pass.
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