MAR 42-1050 – Proposal Notice
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Exclusions and Deductions
Fifteen Montana Tax Credits Repealed in 2022
This article was first sent as part of the Tax News You Can Use Newsletter Sign up to get updates delivered directly to your inbox. 2021 Legislative Roundup The 67th Montana [...]
How to Exempt Unemployment Compensation on Montana Form 2 Under ARPA
Under the American Rescue Plan Act of 2021, taxpayers who received unemployment compensation in 2020 and have a Federal Modified Adjustment Gross Income of $150,000 or less can exclude up [...]
Paycheck Protection Program (PPP) Debt Cancelation Not Taxable
As a part of the CARES Act and the latest federal COVID-19 relief package, passed in December, the federal government created the Paycheck Protection Program (PPP). The PPP is a [...]
Charitable Contributions
Many charitable contributions are eligible for deduction from your federal and state adjusted gross income. If you itemize your deductions, donations made by December 31 to qualifying charities may reduce [...]
Federal Income Tax Deductions on Montana Tax Returns
Several tax practitioners contacted us about the itemized deduction for federal income taxes paid. The Form 2 instructions limit the amount of the itemized deduction to the amount of federal [...]
Miscellaneous Itemized Deductions for Tax Year 2018
The federal Tax Cuts and Jobs Act suspended all miscellaneous deductions referenced under IRC 67, for the tax years 2018 through 2025. Miscellaneous itemized deductions are those deductions that would [...]
Military Spouse Filing Updates
On December 31, 2018, the Servicemembers Civil Relief Act was amended so that a taxpayer moving to a state to be with their spouse who is a military servicemember may [...]
Clarifications Regarding the Deductibility of Federal Income Taxes
As in previous years, you can deduct up to $5,000 of federal income taxes paid on your Itemized Deductions Schedule, line 4. At the request of some tax practitioners, the [...]
Transferring Your Montana Medical Savings Account (MSA)
In general, an account holder may transfer all or part of their account to an immediate family member—free of tax—at any time, even upon death. The recipient must: Be an [...]
Changes in Montana Medical Savings Accounts
There are some changes for Tax Year 2018 for holders of Montana Medical Savings Accounts. Increased Deduction Allowed For 2018, account holders can deduct up to $3,500, or $7,000 per […]
Forms
Welcome to the Montana Department of Revenue Forms Repository Please use the search box below to filter the results on this page. If you are not able to find the [...]
Department of Revenue Administrative Rule Update
The department adopted the following proposed amendments and new rules effective April 28, 2018. Pension and Annuity Income Exclusions, Dependent Exemptions, and Medical Care Savings Accounts MAR Notice 42-2-989 The [...]
Montana Medical Care Savings Accounts
Quick Information Individual Income Tax Montana Medical Savings Account (Form MSA) Montana Medical Care Savings Account - MontGuide Montana residents can establish a Montana medical care savings account (MSA) to [...]
Montana ABLE Account (529A Plan) Deductions
Quick Information Tax Types Individual Income Tax Additional Resources Montana ABLE Program An Achieve a Better Life Experience (ABLE) account, also known as a 529A Plan, is a savings account [...]
First-time Home Buyer Savings Account
Quick Information Tax Types Individual Income Tax Additional Resources Montana First-Time Home Buyer Savings Account (Form FTB) Schedule II - Montana Subtractions from Federal Adjusted Gross Income (Form 2, Schedule [...]
Family Education Savings Account (529 Plan) Deduction
Quick Information Tax Types Individual Income Tax Additional Resources Achieve Montana Montana University System – Montana 529 Plan FAQ A person can establish a Family Education Savings Account (FESA), also [...]
Income Tax Exclusions, Exemptions, and Deductions
Information on the exclusions, exemptions, and deductions available for people and businesses paying income taxes in Montana. Family Education Savings Account (529 Plan) DeductionFamily Education Savings Account (529 Plan) DeductionFirst-time [...]
Retirements, Annuities, and Pensions
Quick Information Due Dates ReturnsApril 25 ExtensionOctober 17 Tax Types Individual Income Tax Additional Resources Montana Disability Income Exclusion Worksheet (Form DS-1) Montana taxes all pension, annuities, and retirement income [...]
Individual Income Tax Tables
Quick Information Due Dates ReturnsApril 25 ExtensionOctober 17 Tax Types Individual Income Tax 2020 Individual Income Tax Tables 2020 Individual Deductions and Exemptions Deduction Or Exemption TypeAmount Standard Deduction20% Maximum [...]
Native American Filers
Quick Information Due Dates ReturnsApril 25 ExtensionOctober 17 Tax Types Individual Income Tax Additional Resources Learn about Tax Refunds Montana Free File Partner Offers Montana Individual Income Tax Return (Form [...]
Military Personnel and Spouses
Quick Information Due Dates ReturnsApril 15 ExtensionOctober 15 Tax Types Individual Income Tax Additional Resources Montana Free File Partner Offers Montana Individual Income Tax Return (Form 2) Enrolled Tribal Member [...]
