Form M2 - Income Tax Return For Estates And Trusts - 2014 Page 2
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214202
Adjustments to Income
25 State and municipal bond interest from outside Minnesota . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
25
26 State income tax deducted on federal return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
26
27 Expenses deducted on your federal return that are attributable to income not taxed
by Minnesota (other than interest or mutual fund dividends from U.S. bonds) . . . . . . . . . . . . . . . .
27
28 80 percent of the suspended loss from 2001–2005 or 2008–2013 on your
federal return that was generated by bonus depreciation (see instructions, page 7) . . . . . . . . . . .
28
29 80 percent of federal bonus depreciation addition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
29
30 Fines, fees and penalties deducted federally as a trade or business expense . . . . . . . . . . . . . . . . .
30
31 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
31a
Code:
31b
32 Net operating loss (NOL) carryover adjustment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
32
33 Domestic production activities deduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
33
34 Add lines 25 through 33. Enter the result here and on line 46, column E, under Additions . . . . . .
34
35 Interest on U.S. government bond obligations, minus any expenses
deducted on your federal return that are attributable to this income . . . . . . . . . . . . . . . . . . . . . . . .
35
36 State income tax refund included on federal return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
36
37 Federal bonus depreciation subtraction (see instructions, page 8) . . . . . . . . . . . . . . . . . . . . . . . . .
37
38 Job Opportunity Building Zone (JOBZ) business and investment
income exemptions (see instructions, page 8) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
38
39 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Code:
39a
(See instructions)
Code:
39b
40 Subtraction for prior addback of reacquisition of business indebtedness income . . . . . . . . . . . . . .
40
41 Subtraction for Railroad maintenance expenses not allowed as federal deductions . . . . . . . . . . . .
41
42 Net operating loss carryover adjustment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
42
43 Add lines 35 through 42. Enter the result here and on line 46, column E, under Subtractions . . .
43
Allocation of Adjustments Between Fiduciary and Benefi ciaries (see instructions, page 9)
A
B
C
D
E
Percent of
Shares assignable to benefi ciary and to fi duciary
Benefi ciary’s Social
Share of federal
total on line
Name of each benefi ciary
Security number
distributable net income
46, column C
Additions
Subtractions
44
%
%
%
%
45 Fiduciary
%
46
Total
100%
Enclose separate sheet, if needed.
Signature of fi duciary or offi cer representing fi duciary
MN ID or Soc. Sec. number
Date
Daytime phone
I authorize the MN Department of
Revenue to discuss this tax return
with the person below.
Print name of contact
E-mail address for correspondence, if desired
This e-mail address belongs to :
Fiduciary
Paid preparer
Paid preparer’s signature
MN ID number, SSN or PTIN
Date
Daytime phone
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