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Montana College Contribution Credit

Article ID: 33657 Print
Montana College Contribution Credit


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 made with a maximum credit allowed of $500. In order to qualify for this credit, your contribution has to be made to a Montana college or university that offers
an associate or baccalaureate degree level education program. In addition to this credit, your contribution may also be claimed as an itemized deduction on Form 2, Schedule III, line 16.

For further instructions on the college contribution credit, and to calculate this credit, see Montana Form CC. When
you claim this credit, you will have to include a copy of Form CC with your tax return.

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Views: 1073 Created on: Jun 15, 2013
Date updated: Aug 31, 2015
Posted in: STATES, Montana

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