College Contribution Credit You can claim a credit against your income tax liability for contributions that you made in 2020 to a foundation or general endowment fund of the Montana university system, a Montana private college, a community college, or a tribal college. Your credit is equal to 10 percent of the contribution that you made with a maximum credit allowed of $500. To qualify for this credit, you must make your contribution to a Montana college or university that offers an associate or baccalaureate degree level education program. For further instructions on the College Contribution Credit, and to calculate this credit, see Montana Form CC. When you claim this credit, include a copy of Form CC with your tax return.