Montana Form Qec - Qualified Endowment Credit - 2012
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MONTANA
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QEC
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Rev 05 12
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2012 Qualified Endowment Credit
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15-30-2327 through 15-30-2329, 15-31-161 and 15-31-162, MCA
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Name (as it appears on your Montana tax return)
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Social Security
Federal Employer
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OR
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Number
Identification Number
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Part I. Gift Information
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1. In order to claim this credit, you must include a receipt for your contribution with this form. Please indicate if you have
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included this receipt (see instructions).
Yes
No
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If you marked No, please explain why ________________________________________________________
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2. Enter the date the qualified contribution was made ______________________________________________
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3. Provide the name and address of (mark only one):
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The tax-exempt Montana organization, qualified under 26 U.S.C. 501(c)(3), that is holding the qualified endowment.
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The trustee of the trust that is administering the planned gift.
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The Montana bank or trust company that is holding the qualified endowment on behalf of a tax-exempt organization.
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Name _________________________________________________________________________________
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Address ________________________________________________________________________________
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City, State, Zip ___________________________________________________________________________
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4. If the gift was a planned gift, mark the appropriate box indicating the type of gift contributed.
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Charitable remainder unitrust
Charitable lead unitrust
Paid-up life insurance policy
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Charitable remainder annuity trust
Charitable lead annuity trust
Charitable gift annuity
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Pooled income fund trust
Charitable life estate agreement
Deferred charitable gift annuity
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Part II. Credit Calculation
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Complete only one column. If the gift you are claiming the credit for was a planned gift, complete Column A. If it was an
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outright gift, complete Column B.
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Column A
Column B
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Planned Gift
Outright Gift
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5. Enter the present value of the aggregate amount of the charitable gift portion
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of your planned gift, or your outright charitable contribution (the charitable
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deduction amount) in the corresponding column.
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If you are calculating the credit based on a qualified contribution made by a
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pass-through entity, enter your share of the contribution and also provide the
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following information for the pass-through entity:
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Business name __________________________________________________
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-
Federal employer identification number
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6. Entered here is the percentage of credit you can receive for your contribution
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based on whether it was a planned gift or an outright gift.
40% (0.40)
20% (0.20)
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7. Multiply line 5 by the percentage on line 6, but do not enter more than $10,000.
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This is your qualified endowment credit.
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Where to Report Your Credit
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►Individuals: Form 2, Schedule V
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►C corporations: Form CLT-4, Schedule C
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►Estate or Trusts: Form FID-3, Line 32
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If you file your Montana tax return electronically, you do not need to mail this form to us unless we ask you for a copy. When you file electronically, you
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represent that you have retained the required documents in your tax records and will provide them upon the department’s request.
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*12JC0101*
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*12JC0101*
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