Montana Schedule B

State:
Montana
Control #:
MT-SKU-0060
Format:
PDF
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Description

Schedule B

Montana Schedule B is a form used by Montana residents to report income from certain sources, such as gambling winnings, and other non-employment sources of income. It is part of the Montana individual income tax return and must be filed with the Montana Department of Revenue. There are three different types of Montana Schedule B forms: Montana Schedule B-1, Montana Schedule B-2, and Montana Schedule B-3. Montana Schedule B-1 is used to report income from rent, royalties, estates, trusts, partnerships, S corporations, and other sources. Montana Schedule B-2 is used to report income from gambling winnings, awards, prizes, and other non-employment sources of income. Montana Schedule B-3 is used to report income from federal form 1099-MISC and other miscellaneous income sources.

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FAQ

Nonresident taxpayers must file a Montana income tax return if gross income attributable to state sources is equal to or greater than the return filing threshold.

Complete Form MW-4 so that your employer can withhold the correct Montana income tax from your pay. See ?Employee Instructions? on back of this form before beginning. You may be entitled to claim an exemption from Montana income tax withholding.

Montana law allows a federal income tax deduction of up to $5,000 (or $10,000 for MFJ). Taxpayers itemizing on the federal return receive the deduction for state income taxes paid. Montana allows an itemized deduction for medical insurance premiums and long-term care insurance premiums.

Montana New Employer Registration If you are a new business, register online with the Montana Department of Labor and Industry. You can also register via phone at 1-800-550-1513. If you already have a Montana UI Account Number, you can look this up online or by contacting the agency at 406-444-3834.

Go to the IRS' Apply for an Employer Identification Number (EIN) online website. Click the APPLY for an EIN Online link. Click the Apply Online Now button. Once you have read the instructions on the page, click the Begin Application button.

Montana New Employer Registration If you are a new business, register online with the Montana Department of Labor and Industry. You can also register via phone at 1-800-550-1513. If you already have a Montana UI Account Number, you can look this up online or by contacting the agency at 406-444-3834.

Payment Options Make payments online using the TransAction Portal. You can request a payment plan for making tax payments through TAP. Requesting a payment plan requires you to be logged in. Learn more about Requesting a payment plan.

Make payments online using the TransAction Portal. You can request a payment plan for making tax payments through TAP. Requesting a payment plan requires you to be logged in. Learn more about Requesting a payment plan.

More info

Information about Schedule B (Form 1040), Interest and Ordinary Dividends, including recent updates, related forms, and instructions on how to file. Schedule B reports the interest and dividend income you receive during the tax year.Complete the oval to indicate whether the income included on the schedule is from the taxpayer, spouse or joint. Schedule B Interest, Dividends and Certain Capital Gains and Losses. 2022. Totals (If you are filing more than one Schedule B, enter the grand totals from all Schedules B on the last sheet; leave the other total boxes blank. You must also file a Form 1096 and a Form 1099-INT with the IRS. It's most often used to identify interest and dividend income. It is also used to alert the IRS that you have foreign bank or other financial accounts. For Form 1040, use Schedule B to report interest and ordinary dividend income. Deadline to file a Schedule B was April 28th.

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Montana Schedule B