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Montana Elderly Care Credit
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You can claim a credit against your income tax liability for paying certain expenses in order to provide care to an elderly family member. Your credit cannot exceed $5,000 for one qualifying family member, or $10,000 for the care of two or more qualifying family members. In order to qualify for th...
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Can I File a Montana Tax Return as Married Filing Status but File Separate Returns on the Same Form? |
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If both you and your spouse have income, you can file your Montana tax returns separately, even if you filed your federal income tax return jointly. But, if you and your spouse file separately, you will each need to report your own adjusted gross income. You cannot arbitrarily assign income between...
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Montana Disabled Dependent Child Exemption
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In addition to the dependent exemption, you are entitled to another exemption for a child who is disabled. If your child is disabled and you qualify for this additional exemption, place an “X” in the “Mark if Disabled” column in the same row you listed your disabled child, a...
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Montana Payment Options |
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You can pay the amount you owe by: ● Electronic funds withdrawal when e-filing your joint federal/state tax return. You can schedule your withdrawal for a later date. ● E-check or credit/debit card—please visit our website at revenue.mt.gov and click on Taxpayer Access Point (TAP) or Inco...
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Montana Deductions
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You should use Form 2, Schedule III, to calculate your itemized deductions, but remember that your Montana itemized deductions may be different from your federal itemized deductions. There are federal deductions that are not allowed on your Montana tax return and state deductions that are allowed o...
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Montana Elderly Homeowner Credit |
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You will need to answer all four statements before you apply for the elderly homeowner/renter credit. Any “No” answer means you are not eligible for the credit. If you are able to answer “Yes” to all of these statements, you are eligible for this refundable credit of up to $...
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Montana Exempt Family Education Savings Account Deposits and Earnings
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When you determine your Montana adjusted gross income, you can subtract from your federal adjusted gross income the lesser of the contributions that you made during 2014 to one or more Montana family education savings accounts or $3,000. If you are married, both you and your spouse are entitled to ...
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Montana Alternative Energy Systems Credit |
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A recognized nonfossil form of energy generation means: • a system that captures energy or converts energy sources into usable sources, including electricity, by using: • solar energy, including passive solar systems • wind • solid waste • the decomposition of org...
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Montana Child and Dependent Care Expense
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If you pay for household or dependent care services for a child under the age of 15, or for a disabled dependent while you are searching for gainful employment, or while you and your spouse both were at work, you can qualify for a child and dependent care expense deduction. To qualify for this ded...
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Montana Rural Physician's Credit |
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If you previously claimed the rural physician’s tax credit and have subsequently ended your practice in this rural area, within four years following the year that you claimed the credit, you are required to pay back your previous credit(s) claimed. For example, if you claimed four consecutiv...
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Montana Alternative Fuel Credit
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Alternative Fuel Credit. You can claim a credit against your income tax liability for the cost of converting your motor vehicle to operate on an alternative fuel. Your credit is equal to 50% of the cost to convert your motor vehicle for a maximum credit of up to $1,000. In order to qualify for this...
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Montana Energy Conservation Installation Credit |
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To qualify for this credit, your investment has to be made to the building itself. The following investments qualify for the energy conservation credit. • Insulation of floors, walls, ceilings and roofs in existing buildings • Insulation in the floors, walls, ceilings and roofs of a n...
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Montana College Contribution Credit
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You can claim a credit against your income tax liability for contributions that you made in 2014 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% of the contribution that you m...
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Montana Elderly Care Credit |
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You can claim a credit against your income tax liability for paying certain expenses in order to provide care to an elderly family member. Your credit cannot exceed $5,000 for one qualifying family member, or $10,000 for the care of two or more qualifying family members. In order to qualify for thi...
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Filing Separate Returns on the Same Form
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If both you and your spouse have income, you can file your Montana tax returns separately, even if you filed your federal income tax return jointly. But, if you and your spouse file separately, you will each need to report your own adjusted gross income. You cannot arbitrarily assign income between...
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