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Deductible contribution limits are set by the Montana Department of Revenue and may be increased for a married couple filing jointly. Deposits to a Montana First Time Home Buyers Savings Account can be made for up to 10 years or until account holders purchase their first home, whichever comes first.
Dividend earnings on a First Time Home Buyers Account is not subject to Montana Income taxation if left in the account or if withdrawn for eligible costs of a purchase for a single-family residence.
If you have any questions about our First Time Home Buyers Account or any other shares products, please contact a Financial Services Representative at (800) 445-3328 for more information.