Does Montana conform to federal rules on gain exclusion on the sale of a personal residence ?

[qbteachmt · Accepted solution]

Download the MT Form 2 (2018) with instructions:

https://app.mt.gov/myrevenue/Endpoint/Form/337

https://mtrevenue.gov/

We report using Federal Schedules.

[itonewbie]

Yes, MT has rolling conformity with the IRC.  Federal AGI as defined by the IRC is adopted under MT Code §15-30-2110 as modified by that section, which does not include §121 exclusion.

[qbteachmt]

Yes, we have to Include it and also Exclude it, so that the Form 2 matches the 1040.