Instructions For Form Federal Adjustments For Businesses For Tax Year 2004

• Section 708 — Method of accounting for certain shipbuilders

• Section 897 — Denial of the installment sale treatment for a

readily tradable debt

• Section 801 — Treatment of expatriate entities and their

foreign parents

• Section 898 — Modification of treatment of transfers to

creditors in divisive reorganizations

• Section 803 — Reinsurance of United States risks in foreign

jurisdictions

• Section 899 — Clarification of definition of nonqualified

preferred stock

• Section 831 — Treatment of stripped interest in bond and

preferred stock funds, etc.

• Section 900 — Modification of definition of controlled group

of corporations

• Section 834 — No reduction of basis under Section 734 in

stock held by partnership in corporate partner

• Section 901 — Class lives for utility grading costs

• Section 836 — Limitation on transfer or importation of

• Section 902 — Consistent amortization of periods for

built-in losses

intangibles

• Section 837 — Clarification of banking business for purposes

• Section 905 — Treatment of sale of stock acquired pursuant

of determining investment of earnings in United States

to exercise of stock options to comply with conflict of interest

property

requirements

• Section 838 — Denial of deduction for interest on underpay-

• Section 907 — Limitation of employer deduction for certain

ment attributable to nondisclosure portable transactions

entertainment expenses

• Section 841 — Prevention of mismatching of interest and

• Section 908 — Residence and source rules relating to United

original issue discount deductions and income inclusions in

States possessions

transactions with related foreign persons

• Section 909 — Sales or dispositions to implement federal

• Section 845 — Expanded disallowance of deductions for

energy regulatory commission or state electric restructuring

interest on convertible debt

policy

• Section 847 — Reform of tax treatment of certain leasing

• Section 910 — Expansion of limitation on depreciation of

arrangements

certain passenger automobiles

• Section 848 — Limitation on deductions allocable to prop-

Military Family Tax Relief Act of 2003 (P.L. 108-

erty used by governments or other tax-exempt entities

121) and Medicare Prescription Drug,

• Section 882 — Treatment of charitable contributions of

Improvement and Modernization Act of 2003

patents and similar property

(P.L. 108-173)

• Section 883 — Increased reporting for noncash charitable

These two Acts were also enacted after June 15, 2003. However,

contributions

they should not affect your income for Minnesota franchise tax

• Section 886 — Extension of amortization of intangibles for

purposes. There is no need for you to make adjustments on your

Minnesota return.

sports franchises

• Section 888 — Modification of Straddle Rules

Questions or need forms?

• Section 893 — Prohibition of nonrecognition of gain through

If you need additional information or help completing your

complete liquidation of a holding company

Form M4, call 651-297-7000. TTY: Call 711 for Minnesota Relay.

• Section 894 — Effectively connected income to include

Forms, fact sheets and other tax-related information are avail-

certain foreign source income

able on our website at Or you may call

651-556-5209 to have forms faxed to you.

• Section 895 — Recapture of overall foreign losses on the sale

of a controlled foreign corporation

• Section 896 — Recognition of cancellation of indebtedness

income realized on satisfaction of debt with partnership

interest

Minnesota Revenue, Federal Adjustments for Businesses

Instructions For Form Federal Adjustments For Businesses For Tax Year 2004 - Minnesota Page 2

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