Get Mt 2ec - Revenue Mt

Completing the MT 2EC - Revenue Mt online can streamline the application process for the Elderly Homeowner/Renter Credit. This guide provides clear, sequential instructions to ensure that you accurately fill out each section of the form.

Follow the steps to successfully complete the MT 2EC - Revenue Mt online.

1. Press the 'Get Form' button to obtain the MT 2EC - Revenue Mt form and open it in your preferred online editor.
2. Begin by entering your first name and initial, last name, and Social Security number in the respective fields. If applicable, mark the box indicating a deceased status and enter the date of death.
3. Indicate your residency by answering whether you lived in Montana for nine months or more during the relevant year. Choose 'Yes' or 'No' accordingly.
4. State your gross household income for the year, ensuring it is below $45,000 to qualify.
5. Proceed to Part II and enter your total gross household income from all sources, referring to the Income Source Worksheet if necessary.
6. Input your standard exclusion amount as pre-filled on the form.
7. Calculate the difference between your gross household income and the standard exclusion—if the result is negative, enter zero.
8. From the Household Income Reduction Table in the instructions, find and enter your multiplier rate.
9. Multiply the result from step 7 by the multiplier from step 8 to find your net household income.
10. Fill out Part III by providing your physical Montana residence address. If it differs from your mailing address, include it.
11. Record the property tax billed for your Montana residence for the year.
12. If applicable, enter the rent you paid during the year for your Montana residence.
13. Calculate the total of the property tax and rent entered and place it in the designated field on the form.
14. Subtract your net household income from the total calculated in step 13; ensure the result isn’t less than zero.
15. Choose the lesser amount between step 14's result and $1,000.
16. Determine the credit multiplier percentage based on the Gross Household Income from step 5.
17. Multiply the amount from step 15 by the percentage from step 16 to calculate your Elderly Homeowner/Renter Credit.
18. Review all entered information to ensure accuracy, then proceed to save changes, download, print, or share the completed form as required.

Complete and submit your MT 2EC - Revenue Mt form online for potential property tax relief.