Schedule Kf - Benefi Ciary'S Share Of Minnesota Taxable Income - 2014
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Schedule KF, Benefi ciary’s Share of Minnesota Taxable Income 2014
Fiduciary: Complete and provide Schedule KF to each nonresident benefi ciary with Minnesota source income and
.
any Minnesota benefi ciary who has adjustments to income
Amended KF:
Tax year beginning
, 2014 and ending
Benefi ciary’s Social Security number
Estate’s or trust’s federal ID number
Minnesota tax ID number
Benefi ciary’s name
Estate’s or trust’s name
JOBZ ID number (if any)
Address of benefi ciary
Address of fi duciary
City
State
Zip code
City
State
Zip code
Calculate lines 1–22 the same for all resident and nonresident benefi ciaries. Calculate
lines 23–29 for nonresident benefi ciaries only. Round amounts to the nearest whole dollar.
Additions to income
Benefi ciary: Include on:
1 State and municipal bond interest from outside Minnesota . . . . . . . . . . . . . 1
Line 3, Schedule M1M
2 State income tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
Line 7, Schedule M1M
3 Expenses deducted that are attributable to income not taxed by Minne-
sota (other than interest or mutual fund dividends from U.S. bonds) . . . . . . 3
Line 9, Schedule M1M
4 80 percent of the suspended loss from 2001–2005 or 2008–2013
that was generated by bonus depreciation. . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
See inst for line 11, M1M
5 80 percent of federal bonus depreciation addition . . . . . . . . . . . . . . . . . . . . . . 5
Line 5, Schedule M1M
6 Fines, fees and penalties deducted federally
as a trade or business expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Line 10, Schedule M1M
7 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . .
7a
Code:
7b
8 Net operating loss (NOL) carryover adjustment . . . . . . . . . . . . . . . . . . . . . . . . 8
Line 13, Schedule M1M
9 Domestic production activities deduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Line 8, Schedule M1M
Subtractions from income
10 Interest on U.S. government bond obligations, minus any expenses
deducted on the federal return that are attributable to this income . . . . . . 10
Line 16, Schedule M1M
11 State income tax refund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Line 5, Form M1
12 Federal bonus depreciation subtraction . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
Line 19, Schedule M1M
13 Subtraction for prior addback of reacquisition of business
indebtedness income included in federal taxable income . . . . . . . . . . . . . . 13
Line 34, Schedule M1M
14 Subtraction for railroad
maintenance expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Line 35, Schedule M1M
15 Job Opportunity Building Zone (JOBZ) business
and investment income exemptions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Line 30, Schedule M1M
16 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . .
16a
Code:
16b
17 Net operating loss (NOL) carryover adjustment . . . . . . . . . . . . . . . . . . . . . . . 17
Line 33, Schedule M1M
(continued)
9995
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