News you can use

MSU Extension offers MontGuide on first-time homebuyer accounts

MSU News Service

BOZEMAN — For those looking to buy a home for the first time, Montana State University Extension has a MontGuide available discussing how Montana law allows individuals to have a special savings account to pay for homebuyer expenses and reduce state income taxes.

Marsha Goetting, MSU Extension family economics specialist, said that as long as the money is left in the first-time homebuyer savings account – or withdrawn for eligible expenses — it is not subject to income taxation at the state level. However, the amount is subject to taxation at the federal level. ...

 

Reader Comments(0)

 
 
Rendered 03/25/2024 14:34