Screen MTCr - Montana Credits (1040)

Overview

Use this screen to enter amounts for various credits. Amounts entered in this screen are used to calculate Form 2 Schedule III: Tax Credits, and Schedule 2EC: Elderly Homeowner/Renter Credit Schedule.

Nonrefundable Credits

Use the fields in this section to enter various credits.

Elderly Homeowner or Renter Credit

Use the fields in this section to enter information needed to complete Form 2, Schedule 2EC: Elderly Homeowner/Renter Credit Schedule.
Use this field to indicate that the taxpayer or spouse meets the residency requirement to claim the elderly homeowner or renter credit.
Enter the amount of property taxes billed to the credit filer if they differ from the amounts entered on federal Schedule A as real estate taxes for primary residence.
Enter renter information in the fields provided.
Enter amounts in these fields to adjust amounts calculated on the appropriate line.

Other Refundable Credits

Use the fields in this section to enter refundable credits on Form 2.
Use these fields for the pass-through entity tax credit. Information transfers from the federal K1-4 and K1T-4 screens for the units coded to Montana.
Use these fields to force the Montana earned income tax credit. Spouse amounts can be entered when the filing status is married filing separately on the same form.
Enter the amount of loan-out withholding reported on Form LOWCERT.
The Unlocking Public Lands program allows a landowner to enter into a contractual agreement with the Montana Department of Fish, Wildlife, and Parks to provide public recreational access where no legal public access currently exists. The landowner may receive an annual tax credit in the amount of $750 per agreement (up to a maximum of $3,000 tax credit per year) for allowing such access. Enter the amount of property taxes paid for each agreement. The
Taxpayer
and
Spouse
columns automatically limits the credit to $750 for each entry. If the property is owned by different taxpayers, enter the taxpayer's proportionate share of the property taxes paid to limit the allowed credit based on their respective ownership interest. Use the
T, S, J
column to assign the credit in a married filing joint return if using filing status 3a on Schedule V. Entering
J
in column splits the property taxes paid up to the $750 maximum 50/50.
Use these fields for the Montana adoption tax credit. You can enter spouse amounts when the filing status is married filing separately on the same form.
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