Extension Explains Potential Tax Savings With Medical Care Savings Account
Montanans can open a medical care savings account or make deposits into existing MSAs before Dec. 31 to reduce their state income taxes for 2024, according to Marsha Goetting, Montana State University Extension family economics specialist.
MSA account holders may deposit up to $4,500 to use for eligible medical expenses.
A person with taxable income over $20,500 could save approximately $265

