Montana taxpayers

Special tax benefits for Montana taxpayers

Contributions you make to an Achieve Montana account may be eligible as a yearly deduction to adjusted gross income of a total of up to $3,000 per taxpayer ($6,000 for those married, filing jointly), in computing Montana state income tax.

NOTE: Contributions to an Achieve Montana account owned by the taxpayer, the taxpayer's spouse or the taxpayer's child or stepchild (if the child or stepchild is a Montana resident at the time of the contribution) are deductible in computing Montana adjusted gross income for the tax year in which they are made. Contributions may be subject to recapture in certain circumstances, such as a non-qualified withdrawal, a withdrawal used to pay expenses for tuition in connection with enrollment or attendance at an elementary or secondary public, private or religious school, or a withdrawal or distribution from an account that was opened within three years prior to the date of the withdrawal or distribution (Recaptured Withdrawal). If the account owner is no longer a Montana resident at the time of a Recaptured Withdrawal, the Program Manager or its service provider may withhold the potential recapture tax from a Recaptured Withdrawal.