Schedule 2EC: Schedule 2EC – Montana Elderly Homeowner/Renter Credit (2024)
Montana · Montana DOR · Used for tax years 2024
Montana Form 2 Schedule 2EC calculates the 2024 Elderly Homeowner/Renter Credit. It reports household income, property taxes billed, rent paid, and information about your age, residency, and household occupancy.
Who files this form
Schedule 2EC is used to claim Montana’s elderly homeowner/renter credit for 2024. The form asks you to attest that:
- You reached age 62 by December 31, 2024.
- You resided in Montana for at least nine months during 2024.
- You occupied a Montana residence as a renter, owner, or lessee for at least six months during 2024.
- Your combined gross household income was less than $45,000 for 2024.
- You are the only member of your household claiming this credit.
What you'll need
Have the following information available to complete the schedule:
- Your name, Social Security number, physical address, and the number of people who lived in your household during 2024.
- Forms 1099-R for IRA distributions, pensions, and annuities.
- Amounts for the income categories listed on the form, including Social Security benefits, government assistance and support money, and income received by other household members.
- Refundable credits received in 2024, including any elderly homeowner/renter credit received that year.
- Property tax billed in 2024 for your Montana residence and up to one acre, and rent paid in 2024 for your Montana residence.
The calculation also calls for rates from the Household Income Reduction Table and the Credit Multiplier Table. Those tables are not included in the supplied text. The form text does not state which documents must be attached.
Common mistakes
- Do not include rollovers in the IRA distributions on line 4 or the pensions and annuities on line 5.
- Do not enter less than zero on line 20 or line 27.
- On line 28, enter the lesser of line 27 or $1,150, not automatically $1,150.
- Only one member of the household may claim this credit, as stated in the form’s attestation.
Questions people ask
Can renters claim this credit?
Yes. The attestation covers renters, owners, and lessees who meet its conditions. Line 24 asks for rent paid in 2024 for a Montana residence, and line 25 multiplies that amount by 15%.
Does income from other household members count?
Yes. Line 17 asks for income received by other members of your household. That amount is included when you add lines 1 through 17 to calculate gross household income.
Do I include an elderly homeowner/renter credit I received in 2024?
Yes. Line 8 includes refundable credits received, specifically including your elderly homeowner/renter credit received in 2024.
Is the credit always $1,150?
No. Line 28 uses the lesser of line 27 or $1,150. You then multiply that amount by the percentage from the Credit Multiplier Table that corresponds to your gross household income. The result on line 30 is your credit.