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Level 1
December 7, 2019
Solved

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

  • December 7, 2019
  • 2 replies
  • 7 views
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Best answer by qbteachmt

Download the MT Form 2 (2018) with instructions:

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


We report using Federal Schedules.

2 replies

qbteachmt
qbteachmtAnswer
Level 15
December 7, 2019

Download the MT Form 2 (2018) with instructions:

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


We report using Federal Schedules.
Don't yell at us; we're volunteers
itonewbie
Level 15
December 7, 2019

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.

---------------------------------------------------------------------------------Still an AllStar
qbteachmt
Level 15
December 7, 2019
Yes, we have to Include it and also Exclude it, so that the Form 2 matches the 1040.
Don't yell at us; we're volunteers