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Montana Free Printable  for 2020 Montana Mobile Home Park Exclusion

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Mobile Home Park Exclusion
Form MHPE

MONTANA MHPE Rev 08 19 2019 Mobile Home Park Exclusion Clear Form 15-31-163, MCA Name (as it appears on your Montana tax return) Social Security Number - - OR Federal Employer Identification Number - Part I. Partners in a Partnership or Shareholders of an S Corporation Enter your portion of the mobile home park exclusion here. See instructions. Business Name of Partnership or S Corporation ___________________________________________________ Federal Employer Identification Number $_____________________ - Part II. Purchaser Information Name of purchaser_________________________________________________________________________________ Contact person____________________________________________________________________________________ Address__________________________________________________________________________________________ Phone_________________________________ Mark the appropriate box indicating the purchaser’s type of entity: q Tenants’ or mobile home park residents’ association q Nonprofit organization under section 501(c)(3) of the Internal Revenue Code q County housing authority created under Title 7, chapter 15, part 21, MCA q Municipal housing authority created under Title 7, chapter 15, parts 44 and 45, MCA Part III. Exclusion Computation 1. Total number of lots in the mobile home park when sold................................................................. 1. 2. Capital gains recognized.................................................................................................................. 2. 3. Ordinary income recognized............................................................................................................ 3. 4. Total gain recognized (add lines 2 and 3)......................................................................................... 4. 5. If the number of lots reported on line 1 is more than 50, enter .5 on this line. Otherwise, enter 1... 5. 6. Multiply line 4 by line 5 and enter the result. This is your mobile home park exclusion.............. 6. Where to Report Your Exclusion ► Individuals: Form 2, page 4, Montana Subtractions Schedule, line 31. ► C corporations: Form CIT, line 3g, “Other Reductions.” ► S corporations: Form PTE, line 13e ► Partnerships: Form PTE, line 13e 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 represent that you have retained the required documents in your tax records and will provide them upon the department’s request. *18JA0101* *18JA0101* Form MHPE Instructions Tenants’ or mobile home park residents’ association means a group of six or more tenants who reside in a mobile home park, have organized for the purpose of eventual purchase of the mobile home park, have established bylaws of the association, and have obtained the approval vote of at least 51% of the residents of the mobile home park to purchase the mobile home park as defined in 15-31-163, Montana Code Annotated (MCA). Who can claim this exclusion? An individual, a C corporation, an S corporation, a partnership or a disregarded entity qualifies for the exclusion of all or a portion of the gain recognized. What information do I have to include with my tax return when I claim this exclusion? ● Individuals. If you are filing a paper return, include a copy of Form MHPE with your individual income tax return. ● C corporations. If you are filing a paper return, include a copy of Form MHPE with your corporate income tax return. ● S corporations and partnerships. If you are filing a paper return, include Form MHPE with your Montana information return Form PTE and include a separate statement identifying each owner and their share. You need to complete a separate Form MHPE for each source you are receiving the exclusion from. For example, if you are a partner in one partnership that qualifies for this exclusion, and you, as an individual, also qualify for this exclusion, you need to complete two forms. If you file electronically, you do not need to mail this form to us unless we contact you for a copy. How do I claim my exclusion when I am a partner or shareholder in a partnership or an S corporation? The exclusion amount from a partnership or S corporation is passed through to partners or shareholders in the same proportion used to report the partnership’s or corporation’s income or loss for Montana tax purposes; this amount should be reported to owners on Montana Schedule K-1. If you received this exclusion from a partnership or S corporation, you need to fill out Part I in its entirety. Your portion of the exclusion can be obtained from the Montana Schedule K-1 that you received from the entity. In addition to reporting your portion of the exclusion, you need to provide the partnership’s or S corporation’s name and Federal Employer Identification Number. If you are a partner or shareholder in more than one partnership or S corporation, you need to complete a separate Form MHPE for each entity you are receiving the exclusion from. Questions? Please call us at (406) 444-6900 , or Montana Relay at 711 for hearing impaired.
Extracted from PDF file 2019-montana-form-mhpe.pdf, last modified August 2018

More about the Montana Form MHPE Corporate Income Tax TY 2019

We last updated the Mobile Home Park Exclusion in March 2020, so this is the latest version of Form MHPE, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form MHPE directly from TaxFormFinder. You can print other Montana tax forms here.

Other Montana Corporate Income Tax Forms:

TaxFormFinder has an additional 78 Montana income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form INA-CT Affidavit of Inactivity for Corporations, Partnerships and Disregarded Entities (OBSOLETE)
Form NOL Montana Net Operating Loss
Form MSA Montana Medical Care Savings Account (DISCONTINUED)
Schedule K-1 Beneficiary's Share of Income (Loss), deductions and credits
Form FID-3 Estates and Trusts (Fiduciary) Income Tax Return

Download all MT tax forms View all 79 Montana Income Tax Forms


Form Sources:

Montana usually releases forms for the current tax year between January and April. We last updated Montana Form MHPE from the Department of Revenue in March 2020.

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About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Montana Form MHPE

We have a total of nine past-year versions of Form MHPE in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:



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