Montana Elderly Care Credit
The Montana Elderly Homeowner/Renter Credit is a property tax relief program designed to assist elderly residents of Montana. This credit is refundable and provides financial support to eligible individuals who are 62 years of age or older.
Eligibility Requirements
- Must be 62 years of age or older as of December 31 of the tax year.
- Must have lived in Montana for more than nine months during the tax year.
- Must have occupied a Montana residence (as owner, renter, or lessee) for at least six months during the tax year.
- Household total income must be less than $45,000 for the year.
- Only one household member may claim the credit per household.
Credit Amount
The maximum refundable credit available is $1,150. This credit is intended to offset property tax burdens for qualifying elderly individuals.
Claiming the Credit
- Claim the credit on Form 2, Line 16, which is part of the Montana Individual Income Tax Return.
- Refundable credits, including this one, are also reported on Form 2, Line 8, when calculating total refundable credits received in the year.
- Individuals who do not file an income tax return may still qualify and should contact the Montana Department of Revenue for assistance.
Additional Notes
The credit is available to both homeowners and renters. It is not necessary to itemize deductions to claim this credit. The credit is based on Montana source income and is calculated as part of the overall tax liability on Form 2.
Source:
Montana Individual Income Tax Return Form 2 Instructions
Montana Individual Income Tax FAQ
Disclaimer: Always verify details with official forms and instructions from the Federal or State Department of Revenue. OLT (Online Taxes) provides guidance based on retrieved information but does not guarantee accuracy or completeness.