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M2, Lines 3–17

Line 3

on the M2SB on line 11 of Form M2. In-

• the fiduciary’s share of any Minnesota

clude Schedule M2SB when you file Form

income tax withholding from Schedule KS

Capital Gain of Lump Sum Distribution

M2.

or KPI not passed through to the benefi-

If you received a qualifying lump-sum

ciaries.

distribution in 2017 and chose the capital

Line 12

gain election on federal Form 4972, enter

If you are including withholding on line 15b,

Additional Tax

the capital gain from line 6 of federal Form

you must include with your Form M2 a copy

Schedule M1LS—Tax on a Lump-Sum

4972. Include a copy of federal Form 4972

of the 1099, Schedule KPI, Schedule KS or

Distribution. If you received a lump-sum

when you file Form M2.

other documentation showing the amount

distribution from a qualified pension plan,

withheld. If the documentation is not includ-

Lines 4 and 6

profit sharing plan or stock bonus plan and

ed, the department will disallow the amount

Additions and Subtractions

the 10-year averaging method on federal

and assess the tax or reduce your refund.

Read the instructions under Allocation of

Form 4972 was used, you must complete

adjustments on page 9.

Minnesota Schedule M1LS, Tax on Lump-

Line 15c. If you are including an amount on

Sum Distribution.

this line you must include a statement indicat-

Line 7

ing which credit(s) are being claimed as well

Include the amount from line 11 of Sched-

Income from Non-Minnesota Sources

as any required forms.

ule M1LS on line 12 of Form M2. Be sure

Enter the total income from sources outside

to check the box for Schedule M1LS and

Minnesota to the extent the amounts are

Include on line 15c only credits that are being

include a copy of the schedule when you

included in your federal taxable income. Do

retained by the fiduciary.

file your return.

not include, however, any income or gains

Line 15d. If you are including an amount on

that are being distributed to the beneficiary.

Schedule M2MT—Alternative Minimum

this line you must include a statement indicat-

Tax. If you had to complete federal Schedule

Examples of income not subject to Minne-

ing which credit(s) are being claimed as well

I, Alternative Minimum Tax, you must com-

sota tax include:

as any required forms. If you have nonrefund-

plete Minnesota Schedule M2MT, Alterna-

able credits available calculate the amount to

• gains from the sale or other disposi tion of

tive Minimum Tax for Estates and Trusts.

enter on line 15d as follows:

real or tangible property outside Minne-

sota,

Include the amount from line 17 of Sched-

• If the amount of nonrefundable cred-

ule M2MT on line 12 of Form M2. Be sure

its available is less than or equal to the

• income or gains from the operation of a

to check the box for Schedule M2MT and

amount on line 14 enter the full amount on

farm outside Minnesota,

include a copy of the schedule with your

line 15d,

• profit from a trade or business out side

return.

• If the amount of nonrefundable credits

Minnesota (enter the name and location

Line 13

available is more than the amount on line

of the trade or business under line 7),

Composite Income Tax

14 enter on line 15d the amount of line 14.

• out-of-state income from partnerships,

Add the composite income tax attributed to

S corporations and other fiduciaries (en-

Credit for Taxes Paid to Another State

all electing beneficiaries (the total of lines

ter the name and location of the partner-

You may claim a nonrefundable credit on

27 from all KF schedules), and enter the

ship or other fiducia ry under line 7),

line 15 for taxes paid to another state if you

result on line 13 of Form M2.

were a resident trust or estate and you paid

• rents and royalties from land, build ings,

Lines 15a-15d and 15

2017 income tax (including tax withheld) to

machinery or other tangible property

Total Payments and Credits

Minnesota and to another state on the same

outside Minnesota (enter the name and

Line 15a. Enter your total estimated tax

income. For purposes of this credit, a Cana-

location of the property producing the

dian province or territory and the District of

and extension payments paid for the tax

rents and royalties under line 7), and

Columbia are considered a state. The credit

year, including:

• interest, dividends, income and gains

cannot exceed the tax shown on line 10.

• your total 2017 estimated tax payments

from stocks, bonds and other securities

made in 2017 and 2018, either paid elec-

Use Schedule M1CR, Credit for Income Tax

for nonresident estates and trusts, unless

Paid to Another State, or M1RCR, Credit for

tronically or by check,

the income was generated by a trade or

Income Tax Paid to Wisconsin, as a work-

• the portion of your 2016 refund applied

business (S corporations and partner-

sheet to determine the credit. When you file

to your 2017 estimated tax, and

ships) and was apportioned to Minnesota.

Form M2, include the M1CR or M1RCR

• any 2017 extension payment, paid elec-

Enclose a separate schedule, if needed.

worksheet or a statement showing how you

tronically or by check, that was made by

arrived at the amount.

Line 10

the due date when filing under an exten-

Line 17

Minnesota Tax

sion.

Use the table starting on page 10 to deter-

Penalty

Line 15b. Enter the total of any 2017 Min-

Penalties are collected as part of the tax and

mine the amount to enter on line 10.

nesota tax withheld, including:

are in addition to any charge for underpay-

Line 11

• backup with holding on income retained

ing estimated tax. If you are paying your

Tax from S portion of an Electing Small

by the es tate or trust,

tax after the regular due date, include the

Business Trust

• Minnesota income tax with held in er-

appropriate penalties on line 17. Include a

If you are filing as an Electing Small Busi-

ror (and not repaid) by an em ployer on

statement showing how you arrived at the

ness Trust (ESBT), you must file Schedule

wages and salaries of a decedent that was

penalty amount.

M2SB to report all items relating to the S

received by the decedent’s estate (enclose

portion of the trust. Enter the tax calculated

Continued

a copy of federal Form W-2, Wage and

Tax Statement), and

Instructions For Form M2 - Minnesota Income Tax For Estates And Trusts (Fiduciary) - 2017 Page 5

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