(1) The unearned income of a dependent child that is included in a parent's federal adjusted gross income pursuant to the IRC is exempt from taxation if for the tax year:

(a) the child is not required to file a Montana individual income tax return; or

(b) the child filed a Montana individual income tax return reporting the income.


History: 15-30-2620, MCA; IMP, 15-30-2110, MCA; NEW, 1985 MAR p. 1633, Eff. 11/1/85; AMD, 1994 MAR p. 1720, Eff. 6/24/94; AMD and TRANS, from ARM 42.15.308, 2004 MAR p. 3147, Eff. 12/17/04; AMD, 2010 MAR p. 1088, Eff. 4/30/10.