Schedule Kpi - Partner'S Share Of Income, Credits And Modifications - 2014
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4KPI
14321
Partner’s Share of Income, Credits and Modifications 2014
(for individual, estate
and trust partners)
Partnership: Complete and provide Schedule KPI to each nonresident individual, estate or trust partner
and any Minnesota individual, estate or trust partner who has adjustments to income.
For corporate and partnership partners, use Schedule KPC instead.
Amended KPI:
Tax year beginning
, 2014 and ending
FEIN/SSN of partner ultimately
Partner’s Federal ID or SSN Number
Partnership’s Federal ID Number
Partnership’s Minnesota Tax ID
taxed (see instructions):
Partner’s Name
Partnership’s Name
JOBZ ID Number, if any
Address of Legal Residence
Address
City
State
Zip Code
City
State
Zip Code
Entity of Partner (check one box):
Individual
Trust
Estate
Partner’s distributive share:
%
Calculate lines 1–20 the same for all resident and nonresident partners. Calculate lines 21–37 for nonresident
partners only. Round amounts to the nearest whole dollar.
Form M1 Filers:
Individual, Estate and Trust Partners
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 attributable to income not taxed by Minnesota
3
(other than interest or mutual fund dividends from U .S . bonds) . . . . . . .
M1M, line 9
4 If the partnership elected section 179 expensing, enter the partner’s
4
flow-through section 179 expensing for Minnesota purposes . . . . . . . . .
M1M, see line 6 inst
5
5 100% of partner’s distributive share of federal bonus depreciation . . . .
M1M, see line 5 inst
6 Fines, fees and penalties deducted
6
federally as a trade or business expense . . . . . . . . . . . . . . . . . . . . . . . . .
M1M, line 10
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 Job Opportunity Building Zone (JOBZ) business
9
and investment income exemptions . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
M1M, line 30
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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