Form M2 - Income Tax Return For Estates And Trusts - 2015 Page 3

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15203
2015 M2, page 3
Adjustments to Income
25 State and municipal bond interest from outside Minnesota . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
25
26 State income tax deducted on federal return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
26
27 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) . . . . . . . . . . . . . . .
27
28 80 percent of the suspended loss from 2001–2005 or 2008–2014 on your
federal return that was generated by bonus depreciation (see instructions, page 7) . . . . . . . . . .
28
29 80 percent of federal bonus depreciation addition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
29
30 Fines, fees and penalties deducted federally as a trade or business expense . . . . . . . . . . . . . . .
30
31 This line is intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
31a
31b
32 Net operating loss (NOL) carryover adjustment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
32
33 Domestic production activities deduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
33
34 Add lines 25 through 33. Enter the result here and on line 46, column E, under Additions . . . . .
34
35 Interest on U.S. government bond obligations, minus any expenses
deducted on your federal return that are attributable to this income . . . . . . . . . . . . . . . . . . . . . . .
35
36 State income tax refund included on federal return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
36
37 Federal bonus depreciation subtraction (see instructions, page 8) . . . . . . . . . . . . . . . . . . . . . . . .
37
38 Job Opportunity Building Zone (JOBZ) business and investment
income exemptions (see instructions, page 8) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
38
39 This line is intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
39a
39b
40 Subtraction for prior addback of reacquisition of business indebtedness income. . . . . . . . . . . . .
40
41 Subtraction for railroad maintenance expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
41
42 Net operating loss carryover adjustment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
42
43 Add lines 35 through 42. Enter the result here and on line 46, column E, under Subtractions . .
43
Allocation of Adjustments Between Fiduciary and Beneficiaries (see instructions, page 9)
A
B
C
D
E
Percent of
Shares assignable to beneficiary and to fiduciary
Beneficiary’s Social
Share of federal
total on line
Name of each beneficiary
Security number
distributable net income
46, column C
Additions
Subtractions
44
%
%
%
45 Fiduciary
%
46
Total
100%
9995
Enclose separate sheet, if needed.

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