2 Connecticut Tax Changes You May Not Know About

AdobeStock_108191911-300x200Chances are, that you are at least somewhat familiar with the new provisions in the Connecticut budget bill.

But do you know about the increased income threshold for the Social Security income tax deduction?

Or the new organ donation expense deduction?

These are 2 of the lesser noticed provisions of Connecticut’s new budget bill. Take a look:

Social Security income tax deduction

Effective for taxable years beginning after 2018 (this was supposed to become available for tax years beginning after 2017), individual taxpayers may deduct 100% of Social Security income, if federal adjusted gross income (AGI) is less than:

  • $75,000 for single filers and married taxpayers filing separately (up from $50,000); or
  • $100,000 joint filers and heads of household (up from $75,000).

Taxpayers with incomes equal to or greater than the thresholds qualify for a 75% deduction. The income thresholds are increased from $50,000 and $60,000, respectively.

Organ Donation Expense Deduction

Individual taxpayers who donate human bone marrow or all or part of a human liver, pancreas, kidney, intestine or lung for a transplantation occurring on or after January 1, 2017 may deduct up to $10,000 for lost wages and medical, travel and housing expenses, incurred by the taxpayer during the taxable year.

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