Montana § 15-30-2329 Beneficiaries Of Estates -- Credit For Contribution To Qualified Endowment

Montana Statutes

§ 15-30-2329 — Beneficiaries Of Estates -- Credit For Contribution To Qualified Endowment

Montana § 15-30-2329

Title 15TAXATION

Ch. 30INDIVIDUAL INCOME TAX

Part 23Specific Tax Credits and Tax Checkoffs

This text of Montana § 15-30-2329 (Beneficiaries Of Estates -- Credit For Contribution To Qualified Endowment) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 15-30-2329 (2026).

Text

15-30-2329 . Beneficiaries of estates -- credit for contribution to qualified endowment. A contribution to a qualified endowment, as defined in 15-30-2327 , by an estate qualifies for the credit provided in 15-30-2328 if the contribution is a planned gift or in 15-31-161 if the contribution is an outright gift to a qualified endowment. Any credit not used by the estate may be attributed to each beneficiary of the estate in the same proportion used to report the beneficiary's income from the estate for Montana income tax purposes. The maximum amount of credit that a beneficiary may claim is $15,000, and the credit must be claimed in the year in which the contribution is made. The credit may not be carried forward or carried back.

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15-30-2329 . Beneficiaries of estates -- credit for contribution to qualified endowment. A contribution to a qualified endowment, as defined in 15-30-2327 , by an estate qualifies for the credit provided in 15-30-2328 if the contribution is a planned gift or in 15-31-161 if the contribution is an outright gift to a qualified endowment. Any credit not used by the estate may be attributed to each beneficiary of the estate in the same proportion used to report the beneficiary's income from the estate for Montana income tax purposes. The maximum amount of credit that a beneficiary may claim is $15,000, and the credit must be claimed in the year in which the contribution is made. The credit may not be carried forward or carried back.

Legislative History

En. Sec. 5, Ch. 537, L. 1997; amd. Secs. 3, 4, Ch. 24, Sp. L. August 2002; Sec. 15-30-167, MCA 2007; redes. 15-30-2329 by Sec. 1, Ch. 147, L. 2009; amd. Sec. 16, Ch. 503, L. 2021; amd. Sec. 2, Ch. 690, L. 2023.