Schedule M2sb - Minnesota Income Tax Computation For S Portion Of Esbt - 2014 Page 2

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14232
Adjustments to Income
12 State and municipal bond interest from outside Minnesota . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
13 State income tax deducted on federal return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
14 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) . . . . . . . . . . . . . . . . . 14
15 80 percent of the suspended loss from 2001–2005 or 2008–2013 on your
federal return that was generated by bonus depreciation (see Form M2 instructions, page 7) . . . . 15
16 80 percent of federal bonus depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
17 Fines, fees and penalties deducted federally as a trade or business expense . . . . . . . . . . . . . . . . . . 17
18 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Code:
18a
(See instructions)
Code:
18b
19 Net operating loss carryover adjustment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
20 Domestic production activities deduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
20
21 Add lines 12 through 20. Enter the result here and on line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
22 Interest on U.S. government bond obligations, minus any expenses
deducted on your federal return that are attributable to this income . . . . . . . . . . . . . . . . . . . . . . . . . 22
23 State income tax refund included on federal return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
24 Federal bonus depreciation subtraction (see Form M2 instructions, page 7) . . . . . . . . . . . . . . . . . . 24
25 Job Opportunity Building Zone (JOBZ) business and investment
income exemptions (see Form M2 instructions, page 8) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
26 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Code:
26a
(See instructions)
Code:
26b
27 Subtraction for prior addback of reacquisition of business indebtedness income . . . . . . . . . . . . . .
27
28 Subtraction for Railroad maintenance expenses not allowed as federal deduction . . . . . . . . . . . . . . 28
29 Net operating loss carryover adjustment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
29
30 Add lines 22 through 29. Enter the result here and on line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
30

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