Form 2 (2023): Montana Individual Income Tax Return

Form 2 is the official Montana Individual Income Tax Return used by residents of Montana to report their income and calculate any taxes owed or refundable to the state of Montana (MT) for tax year 2023.

Who Needs to File a Montana Individual Income Tax Return?

  • Generally, you must file a Montana Individual Income Tax Return if you were a resident of Montana for any part of 2023 and had taxable income.
  • You may also need to file if you weren't a resident but earned income from Montana sources.

What's Included in Form 2?

Form 2 is divided into sections to report your income, adjustments, deductions, credits, and tax liability. Here's a breakdown of some key sections:

  • Federal Adjusted Gross Income (FAGI): This amount is transferred from your federal tax return and represents your income after certain adjustments.
  • Montana Adjustments and Subtractions: These lines allow you to report specific income items unique to Montana tax calculations.
  • Montana Taxable Income: This is your FAGI after considering Montana adjustments and subtractions.
  • Standard or Itemized Deductions: Choose between the standard deduction amount set by the state or itemize your deductions for potentially greater tax savings.
  • Tax Credits: Several tax credits are available to reduce your tax liability, such as earned income credit and elderly care credit.
  • Tax Calculation: This section determines your tax liability after applying credits and includes lines for reporting any tax withheld or estimated payments made.

Key Points to Remember About Form 2:

A. Tax Year: This form is specifically for tax year 2023 (income earned between January 1, 2023, and December 31, 2023).

B. Filing Options: You can file your Form 2 electronically or by mail. E-filing is generally recommended for faster processing.

To access the current year's Form 2: Montana Individual Income Tax Return, click here.