Schedule Kf - Beneficiary'S Share Of Minnesota Taxable Income - 2011
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32011 Schedule KF, Beneficiary’s Share of Minnesota Taxable Income
Fiduciary: Complete and provide Schedule KF to each nonresident beneficiary with Minnesota source income and
.
any Minnesota beneficiary who has adjustments to income
Amended KF:
Tax year beginning
, 2011 and ending
Beneficiary’s Social Security number
Estate’s or trust’s federal ID number
Minnesota tax ID number
Beneficiary’s name
Estate’s or trust’s name
JOBZ ID number (if any)
Address of beneficiary
Address of fiduciary
City
State
Zip code
City
State
Zip code
Calculate lines 1–18 the same for all resident and nonresident beneficiaries. Calculate
lines 19–25 for nonresident beneficiaries only. Round amounts to the nearest whole dollar.
Additions to income
Beneficiary: Include on:
1 State and municipal bond interest from outside Minnesota . . . . . . . .
Line 4, Schedule M1M
1
2 State income tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
Line 8, 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 10, Schedule M1M
4 80 percent of the suspended loss from 2001–2005, 2008, 2009
or 2010 that was generated by bonus depreciation . . . . . . . . . . . . . . .
4
See inst for line 13, M1M
5 Federal tax-exempt subsidies paid to employers for
providing prescription drug coverage for their retirees . . . . . . . . . . . . . . .
5
Line 11, Schedule M1M
6 80 percent of federal bonus depreciation addition . . . . . . . . . . . . . . . . .
Line 6, Schedule M1M
6
7 Fines, fees and penalties deducted federally
as a trade or business expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
Line 12, Schedule M1M
8 Net operating loss (NOL) carryover adjustment . . . . . . . . . . . . . . . . . . .
8
Line 15, Schedule M1M
9 Domestic production activities deduction . . . . . . . . . . . . . . . . . . . . . . . .
9
Line 9, 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 18, Schedule M1M
11 State income tax refund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11
Line 5, Form M1
12 Subtraction for federal bonus depreciation . . . . . . . . . . . . . . . . . . . . . . 12
Line 21, Schedule M1M
13 Subtraction for prior addback of reacquisition of business
indebtednedness income included in federal taxable income . . . . . . . 13
Line 36, Schedule M1M
14 Job Opportunity Building Zone (JOBZ) business
and investment income exemptions . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Line 32, Schedule M1M
15 Net operating loss (NOL) carryover adjustment . . . . . . . . . . . . . . . . . . . 15
Line 35, Schedule M1M
Credits (you must enclose this schedule with your Form M1 if claiming a credit)
Include on:
16 Any Minnesota income tax withholding credit received by the fiduciary . . 16
Line 7, Schedule M1W
17 JOBZ jobs credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
17
Line 4, Form M1B
18 Credit for historic structure rehabilitation (enclose certificate) . . . . . .
18
Line 3, Form M1B
National Park Service (NPS) project number:
Nonresident beneficiaries
Include on Schedule
Minnesota portion of amounts from federal Schedule K-1 (1041)
M1NR, column B on:
19 Capital gain or loss on Minnesota real property . . . . . . . . . . . . . . . . . .
19
Line 4
20 a Business income or loss . . . . . . . . . . . . . . . . .
a
b Income from Minnesota rents, royalties, part-
nerships, S corporations, estates and trusts . . b
c Farm income or loss . . . . . . . . . . . . . . . . . . . . . c
Total (add lines 20a, 20b and 20c) . . . . . . . . . . . . . . . . . . . . . . . . . . . .
20
Line 6
(continued)
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