Schedule M1m - Minnesota Income Additions And Subtractions - 2014 Page 7
Download a blank fillable Schedule M1m - Minnesota Income Additions And Subtractions - 2014 in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Schedule M1m - Minnesota Income Additions And Subtractions - 2014 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2
3
4
5
6
7
8ment, check the chart in the M1 instruc-
Worksheet for Line 29
tions to determine if you meet the income
1 Foreign taxes paid from federal Form 1116, line 9 . . . . . . . . . . . . . . . . . . .
requirements.
2 Federal foreign tax credit from Form 1116, line 22, for the
If you meet all of the eligibility require-
subnational level of a foreign country other than Canada . . . . . . . . . . . . .
ments, complete and include Schedule
3 Subtract step 2 from step 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
M1R, Age 65 or Older/Disabled Subtrac-
4 Tax paid to a subnational level of a foreign country, other than
tion.
Canada, on income you received while a Minnesota resident . . . . . . . . . .
5 Step 3 or step 4, whichever is less.
Line 22
Also enter this amount on Schedule M1M, line 29 . . . . . . . . . . . . . . . . . . .
Railroad Retirement Board Benefi ts
If you included unemployment, sick pay,
Line 24
and Title 32 Active Guard Reserve
or retirement benefi ts from the Railroad
American Indians Living on an
(AGR).
Retirement Board in 2014 federal taxable
Indian Reservation
income, you can subtract these amounts
If you received pay for federal active duty,
If you are a member of an American
from your federal taxable income.
report that pay on line 25 instead of line
Indian tribe living and working on the
26.
Line 23
reservation of which you are an enrolled
Line 28
Reciprocity Income
member, enter your reservation source
Organ Donor
Minnesota has income tax reciprocity
income on line 24, to the extent the
agreements with Michigan and North
If, while living, you, your spouse (if fi ling
income is federally taxable.
Dakota. Reciprocity applies only to
a joint return), or a dependent donated
If you are eligible to subtract reservation
personal service income, which includes
all or part of a liver, pancreas, kidney,
source income, you must apportion any
wages, salaries, tips, commissions, fees,
intestine, lung or bone marrow to another
working family or child care credit you
and bonuses. For additional information,
person, you can subtract your qualifi ed
claim based on your income taxable to
see the M1 instructions.
expenses.
Minnesota.
When to complete Schedule M1M: If
Qualifi ed expenses are your unreimbursed
Line 25
you are a resident of a reciprocity state
expenses for travel and lodging and for
Federal Active Duty Military Pay
and your only Minnesota source income
any lost wages net of sick pay due to the
Received by Residents
is wages covered under reciprocity from
transplantation. Th e maximum amount
which Minnesota income tax was with-
If you are a Minnesota resident who is a
you may subtract is your actual qualifi ed
held, use Schedule M1M to get a refund
member of the United States or United
expenses or $10,000, whichever is less.
of the amount withheld. Place an X in
Nations armed forces, enter the military
Line 29
the box for the state of which you were
pay you received for federal active duty,
Income Taxes Paid to a Subnational
a resident during the year, and enter the
to the extent the income is federally tax-
Level of a Foreign Country
amount from line 1 of Form M1 on line
able. Th is includes income received by
If you paid taxes to a subnational level of
23 of this schedule.
members of the National Guard and Re-
a foreign country other than Canada, you
serve who have been called up to federal
When you fi le Form M1, follow the steps
may be able to subtract the amount you
active duty.
in the M1 instructions. Also complete and
did not use to claim a federal foreign tax
include Schedule M1W, Form MWR, and
Line 26
credit. A subnational level is the equiva-
a copy of your home state tax return.
National Guard Members, Reservists
lent of a state of the United States. See
To avoid having Minnesota tax withheld
Members of the Minnesota National
Worksheet for Line 29 on this page.
in the future on wages covered by reci-
Guard and Reserves are allowed a
Line 30
subtraction, to the extent the income
procity, fi le Form MWR each year with
JOBZ Subtractions
your employer.
is federally taxable, for pay received for
Individuals who invest in or operate a
training and certain types of qualifying
When to complete Schedule M1NR: If
qualifi ed business in a Job Opportunity
service. Th is includes:
your gross income assignable to Minne-
Building Zone (JOBZ) can subtract cer-
sota (other than from the performance of
• Training includes annual training and
tain types of income included in federal
personal services covered under reciproc-
drill weekends.
taxable income.
ity) is $10,150 or more, you are subject to
• State active service includes natural di-
Complete and include Schedule JOBZ,
Minnesota tax on that income. You must
saster emergency response and missing
JOBZ Tax Benefi ts, if in 2014 you received:
fi le Form M1 and Schedule M1NR. You
person searches.
are not eligible to take the reciprocity
• income from operating a qualifi ed busi-
• Federally funded state active service
subtraction on Schedule M1M. Do not
ness in a zone;
includes airport security duty and
include your personal service income on
• income for renting real or tangible
active duty for special work (ADSW).
column B of Schedule M1NR.
personal property used by a qualifi ed
Th is includes service under Title 10
business located in a zone;
M1M-5
Continued
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial