2: Montana Individual Income Tax Return (Form 2) (2024)
Montana · Montana DOR · Used for tax years 2024
Form 2 is Montana’s 2024 Individual Income Tax Return. It reports income, Montana adjustments, tax, credits, withholding, and payments to calculate your tax due or refund. It can also be used to amend a return.
What you'll need
Have these forms and details available, as they apply to your return:
- Federal return: Form 1040 for income and deduction amounts, and federal Schedule D for net long-term capital gains.
- Montana withholding and credits: Forms W-2 and 1099, Montana Schedules K-1, and Form LOWCERT for loan-out withholding.
- Payment information: Your 2024 estimated tax payments, any overpayment applied from your 2023 return, and any extension payment.
- Personal information: Social Security numbers, dates of birth, and your current mailing address. Part-year residents also report their residency-change date and the states they moved to and from.
- Refund account information: Routing and account numbers if you are eligible for and choose direct deposit.
Include supporting forms when applicable. Examples printed on the return include Form ETM for exempt tribal income, Form WMRE for the military retirement and survivor-benefit subtraction, and Form ADPT for the adoption credit. Schedule II directs you to attach Form DE for business income or loss.
If you elect to report a transition adjustment, complete and include the Transition Schedule. Its federal-tax-recovery calculation uses information from your 2023 Montana Form 2 and federal Form 1040.
Common mistakes
- Using staples: The form says “No Staples.”
- Requesting direct deposit on your first Montana return: Direct deposit is not available if you are filing a Montana return for the first time.
- Forgetting to sign: The form marks the signature section as required and reminds filers to sign after completing or skipping the direct deposit section.
- Completing the wrong resident-tax line: Nonresidents, part-year residents, and Montana residents with nonresident or part-year resident spouses must leave page 2, line 13 blank and transfer the specified tax amounts to Schedule II.
- Including rollovers in the elderly homeowner/renter credit calculation: Schedule 2EC says not to include rollovers on its IRA distribution and pension/annuity lines.
Questions people ask
Is there a subtraction for taxpayers age 65 or older?
Yes. Page 1, line 6 provides a $5,500 subtraction for taxpayers age 65 or older, or $11,000 if married filing jointly and both spouses are 65 or older.
Can I apply an overpayment to next year's estimated taxes?
Yes. On the 2024 return, line 24 lets you enter the amount of your overpayment you want applied to your 2025 estimated taxes.
Can I deposit part of my overpayment into a 529 or 529A account?
The form provides line 25 for that amount and account-information fields on page 2. It also warns that direct deposit is not available to first-time Montana filers.
How do I identify an amended return?
Mark the amended-return box on page 1. Line 18 is for payments made with the original return, and line 20 is for the previous overpayment. Schedule V provides fields for the adjustment type, affected form or schedule, line or box, and reason.