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Montana Medical Savings
As a Montana resident, you can open a Montana Medical Savings account and deduct up to $3,000 per year on your Montana Individual Income Tax Return. If you are married, your spouse can also establish an account and you can jointly claim up to $6,000 as a combined deduction. You may use the funds in your Montana Medical Savings account for eligible medical expenses as defined under Internal Revenue Code Section 213(d). For more information regarding withdrawals for eligible and non-eligible expenses, please consult your tax advisor. At the end of the year, any unused funds can be carried forward and accumulated for future needs.
For more information or to get started opening your account, please contact a TSB Personal Banker at 406-543-8700.
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