Montana's elderly homeowner/renter tax credit for 2014

Montanans who turned 62 or older by the end of last year may qualify for Montana's elderly homeowner/renter tax credit for 2014.

If you can answer "yes" to all of the following questions, then you may be eligible for the credit:

?       Were you 62 or older as of Dec. 31?
?       Did you occupy a Montana residence(s) as an owner or renter for a total of 6 months or more during 2014?
?       Did you reside in Montana for nine months or more during 2014?
?       Was your total gross household income less than $45,000 in 2014? Montana Department of Revenue’s Form 2EC contains instructions for determining total gross household income for the purpose of determining the tax credit.

Montana allows qualifying citizens a credit for a portion of their property taxes or rent paid based on their income. The credit can be used against state income liability or as a direct refund if the person is not required to file a Montana state income tax return.  Only one claim is allowed per household.

To determine eligibility, complete Form 2EC, which can be found at your local Department of Revenue office, library, post office or tax preparer’s office.  The form is also available on the web at http://revenue.mt.gov/Portals/9/individuals/forms/Form_2EC_2014.pdf

Help is available to complete Form 2EC by calling the Department of Revenue, toll free: (866) 859-2254 or (406) 444-2830 (hearing impaired only). If you are in the Helena area, call (406) 444-6900.  Or, visit the website at revenue.mt.gov