42.15.525 MONTANA ADJUSTED GROSS INCOME TO BE USED WHEN CALCULATING ITEMIZED DEDUCTIONS
(1) Except as provided in (2), when the deductions allowed under 15-30-2131, MCA, are limited to a percent of adjusted gross income by reference to the IRC, Montana adjusted gross income must be used when calculating the deductions limitation for the Montana return. Montana adjusted gross income is defined in 15-30-2110, MCA.
(2) Taxpayers who are allowed a deduction for mortgage insurance premiums paid under IRC, 26 U.S.C. 163, may use their federal adjusted gross income when computing the allowable amount for the Montana return.
History: 15-30-2620, MCA; IMP, 15-30-2132, MCA; Eff. 12/31/72; AMD, Eff. 11/3/75; AMD, 1982 MAR, p. 10, Eff. 1/15/82; AMD, 1983 MAR p. 1465, Eff. 10/14/83; AMD and TRANS, from ARM 42.15.421, 2004 MAR p. 3147, Eff. 12/17/04; AMD, 2010 MAR p. 1088, Eff. 4/30/10.