Schedule Ks - Shareholder'S Share Of Income, Credits And Modifications - 2014
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3KS
14821
Shareholder’s Share of Income, Credits and Modifications 2014
S corporation: Complete and provide Schedule KS to each nonresident shareholder and Minnesota shareholder who has
adjustments to income.
Amended KS:
Tax year beginning
, 2014 and ending
Shareholder’s Federal ID or Social Security Number
S Corporation’s Federal ID Number
S Corporation’s Minnesota Tax ID
Shareholder’s Name
S Corporation’s Name
JOBZ ID Number, if any
Address
Address
City
State
Zip Code
City
State
Zip Code
Entity of Shareholder
Shareholder’s percentage of
Individual
Estate
%
(place an X in one box):
stock ownership for tax year:
Trust
Exempt Organization
Calculate lines 1–20 the same for all resident and nonresident shareholders. Calculate
lines 21–35 for nonresident shareholders only. Round amounts to the nearest whole dollar.
Form M1 filers,
Modifications to Federal Taxable Income
include on:
1
1 Interest income from non-Minnesota state and municipal bonds . . . . . . . .
M1M, line 4
2
2 State income tax deducted in arriving at ordinary or net rental income . . . .
M1M, line 7
3 Expenses deducted that are attributable to income not taxed by Minne-
3
sota (other than interest or mutual fund dividends from U .S . bonds) . . . . .
M1M, line 9
4 If the S corporation elected section 179 expensing, enter the share-
4
holder’s flow-through section 179 expensing for Minnesota purposes . . .
M1M, see line 6 inst .
5
5 100% of shareholder’s pro rata share of federal bonus depreciation . . . .
M1M, see line 5 inst .
6 Fines, fees and penalties deducted federally
6
as a trade or business expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
M1M, line 10
8 Addition due to federal changes not adopted by Minnesota
7a
7 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . .
. . .
7b
. . .
8 Interest from U .S . government bond obligations, minus any expenses
8
deducted on the federal return that are attributable to this income . . . . . .
M1M, line 16
9
9 JOBZ business and investment income exemptions . . . . . . . . . . . . . . . . . . .
M1M, line 30
11 Subtraction due to federal changes not adopted by Minnesota
10a
10 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . .
. . .
10b
. . .
11
11 Credit for increasing research activities . . . . . . . . . . . . . . . . . . . . . . . . . . . .
M1C, line 3
12
12 Greater Minnesota Internship Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
M1B, line 4
13 Credit for historic structure rehabilita-
13
tion and enter NPS project number: . . . . . .
. .
M1B, line 2
14
14 Employer Transit Pass Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
M1C, line 4
15
15 Enterprise Zone Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
M1B, line 5
16
16 Jobs Credit for participating in a JOBZ zone . . . . . . . . . . . . . . . . . . . . . . . . .
M1B, line 3
Continued next page
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