Schedule Kf - Beneficiary'S Share Of Minnesota Taxable Income - 2011 Page 3
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32011 Schedule KF instructions
Beneficiary’s use of information provided on Schedule KF
Purpose of Schedule KF
Lines 19-22. Include lines 19-22 on the cor-
Lines 24 and 25 were used to determine
responding lines in column B of Schedule
your share of the fiduciary’s Minnesota tax-
Schedule KF is a supplemental schedule
M1NR.
able income. You may need to refer to these
provided by the fiduciary to the beneficia-
amounts when you file your home state’s
ries. The beneficiaries need this information
Line 23. Minnesota source gross income is
income tax return.
to complete a Minnesota Individual Income
used to determine if a nonresident individ-
Tax Return, Form M1.
ual is required to file a Minnesota income
If you elected for the fiduciary to pay com-
tax return. Gross income is income before
posite tax, you are not required to file Form
A beneficiary who is a Minnesota resident
business or rental deductions and does not
M1.
will be taxed by Minnesota on all of his
include losses.
or her income from the trust or estate. A
Line 24. This is your Minnesota source
nonresident beneficiary will be taxed on the
If your total 2011 Minnesota source gross
distributive income from this fiduciary.
Minnesota income which is assignable to
income is $9,500 or more and you did not
Line 25. If you elected, the composite tax
Minnesota.
elect composite filing, you are required to
the fiduciary paid on your behalf equals
file Form M1 and Schedule M1NR, Non-
These instructions are intended to help you
7.85 percent of your Minnesota taxable
residents and Part-Year Residents. You must
report your share of the fiduciary’s income,
income on line 25, minus your share of any
include all Minnesota source gross income
credits and modifications on your Minne-
credits on lines 16–18. You are not required
passed through to you from all fiduciaries,
sota return.
to file Form M1.
partnerships and S corporations when
If you received an amended Schedule
determining if you are required to file a
Questions?
KF from the fiduciary and your income or
Minnesota return.
deductions have changed, you must file an
Call the department at 651-556-3075.
If your 2011 Minnesota source gross income
amended Minnesota return. To amend your
TTY users, call Minnesota Relay at 711.
is less than $9,500 and you are allowed a
return, use Form M1X, Amended Minnesota
Minnesota income tax withholding credit
Income Tax Return.
Information is available in other formats
(see line 14), file Form M1 and Schedule
upon request for persons with disabilities.
M1NR to receive a refund.
Line instructions
Need forms?
Although Minnesota source gross income
Include amounts on the appropriate lines as
You may download forms and other tax-
determines whether you must file a Min-
shown on Schedule KF. Be sure to read the
related information from our website at
nesota return, your Minnesota source
following line instructions for additional
distributive income is ultimately taxed.
information.
Nonresident beneficiaries
Lines 19—25
Lines 19-25 apply to nonresident benefi-
ciaries. All income of a Minnesota resident
is assigned to Minnesota, regardless of the
source. If certain items are not entirely
included in your federal adjusted gross
income because of passive activity loss
limitations, capital loss limitations, section
179 limitations or for other reasons, include
only the amounts that you included in your
federal adjusted gross income.
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