Instructions For Form 2m - Individual Income Tax Forms And Instructions (Includes Form 2ec) - 2011 Page 19
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35Instructions for fi ling Montana Form 2M
Page 15
gains tax credit and cannot reduce your tax liability
examples of what investments may or may not qualify.
below zero. The unused portion of your nonrefundable
When you claim this credit, you will have to include a copy
single-year credits that exceeded your 2011 income tax
of Form ENRG-C with your tax return.
liability cannot be carried forward or backward to other
Line 3 – Elderly Care Credit
tax years.
You can claim a credit against your income tax liability
● Nonrefundable Carryover Credits
for paying certain expenses in order to provide care to an
Your nonrefundable carryover credits can be used to
elderly family member. Your credit for a tax year cannot
offset your 2011 resident tax after capital gains tax
exceed $5,000 for one qualifying family member, or
credit. These credits cannot reduce your tax liability
$10,000 for two or more qualifying family members.
below zero. Your excess nonrefundable carryover
In order to qualify for this credit, you need to care for
credits that were not applied against your 2011 income
an elderly family member who is at least 65 or has
tax liability can be carried forward and used to offset
been determined to be disabled by the Social Security
future year tax liabilities.
Administration, and who has a family income of $15,000 or
● Refundable Credits
less if single, or $30,000 or less if married.
Your refundable credits are applied against your
For further instructions on the elderly care credit and to
income tax liability with any unused credit refunded to
calculate this credit, see Montana Form ECC. When you
you.
claim this credit, you will have to include a copy of Form
ECC with your income tax return.
Nonrefundable Single-Year Credits (Lines 1-3)
Nonrefundable Carryover Credits (Lines 4-5)
Line 1 – College Contribution Credit
You can claim a credit against your income tax liability
Line 4 – Alternative Energy Systems Credit
for contributions that you made in 2011 to a foundation or
Nonfossil form of energy: If you are a resident of
general endowment fund of the Montana university system,
Montana, you can claim a credit against your income tax
a Montana private college, a community college or a tribal
liability for the cost of purchasing and installing an energy
college. Your credit is equal to 10% of the contribution that
system that uses a recognized nonfossil form of energy
you made with a maximum credit allowed of $500.
such as, but not limited to, solar energy, wind energy, solid
In order to qualify for this credit, your contribution has to
waste, and organic waste in your principal home. Your
be made to a Montana college or university that offers
credit cannot exceed $500 per taxpayer. Any balance of
an associate or baccalaureate degree level education
your credit that is not used in 2011 can be carried forward
program. In addition to this credit, your contribution may
and applied to future income tax liabilities for a period of
also be claimed as an itemized deduction on Form 2M,
four succeeding tax years.
Schedule I, line 16.
Low emission wood or biomass combustion: If you are
For further instructions on the college contribution credit,
a resident of Montana, you can claim a credit against your
and to calculate this credit, see Montana Form CC. When
income tax liability for the cost of purchasing and installing
you claim this credit, you will have to include a copy of
an energy system using a low emission wood or biomass
Form CC with your tax return.
combustion device, such as a pellet or wood stove in your
principal home. You can also claim the credit for installing
Line 2 – Energy Conservation Installation Credit
certain outdoor hydronic heaters or masonry heaters. Your
If you are a resident of Montana, you can claim a credit
credit cannot exceed $500 per taxpayer. Any balance of
against your income tax liability for energy conservation
your credit that is not used in 2011 can be carried forward
investments that you made to your home or other buildings.
and applied to future income tax liabilities for a period of
Your credit is equal to 25% of your expenses for a
four succeeding tax years.
maximum credit of up to $500 for the capital investments
For further instructions on the alternative energy system
you made to your home or another building for energy
credit, and to calculate this credit, see Montana Form
conservation purposes or for the installation or replacement
ENRG-B. When you claim this credit, you will have to
of a hot water heater or household heating or cooling
include a copy of Form ENRG-B with your tax return.
system. If you are married, your spouse may also qualify
for a credit of up to $500 as long as you both made
Line 5 – Adoption Credit
qualifying capital investments.
You can claim a credit against your income tax liability if
You will not qualify for this credit by simply switching to an
you fi nalized the adoption of an eligible child during 2011.
energy source that is less expensive or free (investments
An eligible child is:
of this nature may qualify for the alternative energy system
● any child under age 18, or
credit).
● any disabled person physically or mentally unable to
For further instructions and a list of investments that
take care of himself or herself.
qualify for the energy conservation credit, see Montana
The amount of the credit is $1,000 per child. If the amount
Form ENRG-C. In addition, please refer to our website
of the credit exceeds your tax liability for 2011, you can
at revenue.mt.gov for more information, such as specifi c
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