Schedule Kpi - Partner'S Share Of Income, Credits And Modifications - 2017 Page 4
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52017 Schedule KPI Instructions
Individual, estate and trust partner’s use of information provided on Schedule KPI
Estates and trusts (continued): Include the
Purpose of Schedule KPI
Line 14 — Employer Transit Pass Credit
amounts from
Schedule KPI is a supplemental schedule
Individuals: Include in the total on line 4
provided by the partnership to its individual,
of Schedule M1C. To claim this credit, you
Schedule KPI:
on Form M2:
estate or trust partners.
must include this schedule with Form M1.
line 13 . . . . . . . . . . line 15c
The partners will need this information to
line 14 . . . . . . . . . . line 15d
Line 15 — Enterprise Zone Credit
complete a Minnesota Form M1, Individual
line 15 . . . . . . . . . . line 15c
Individuals: Include in the total on line 4
Income Tax Return, or Form M2, Income
lines 16–19 . . . . . . see M2MT
of Schedule M1B. To claim this credit, you
Tax Return for Estates and Trusts.
lines 20-32 . . . . . . see inst. on this page
must include this schedule with your Form
line 33 . . . . . . . . . . information
M1.
A partner who is a Minnesota resident will
lines 34–35 . . . . . . do not apply
be taxed by Minnesota on all of his or her
Line 20 — Minnesota Source Gross
line 36 . . . . . . . . . . line 15b
distributive income from the partnership
Income
even if the income is apportioned between
Please see M2 instructions for any amounts
Minnesota source gross income is used
Minnesota and other states. A nonresident
refering to line 15d.
to determine if a nonresident individual,
partner will be taxed on the Minnesota dis-
estate or trust is required to file a Minnesota
Line 7a and 7b — Accelerated Install-
tributive income from the partnership.
income tax return. Gross income is income
ment Sale Gains
before business or rental deductions and
These instructions are intended to help
Nonresident individuals – if any informa-
does not include losses.
you report your share of the partnership’s
tion is reported to you on line 7 of schedule
income, credits and modifications on your
KPI, file form M1AR with your Minnesota
Nonresident individuals: If your 2017
Minnesota return.
income tax return.
Minnesota source gross income is $10,400
or more and you did not elect composite
You must include Schedule KPI when you
Resident individuals – if information is
filing, you are required to file Form M1 and
file your Form M1. If you do not include
reported to you on line 7, retain a copy of
Schedule M1NR, Nonresidents/Part-Year
the schedule with your return as required,
this schedule for your records for the entire
Residents.
the department will disallow any credits and
period that you, or an entity you have an
assess the tax or reduce your refund.
interest in is receiving installment sale pay-
If your 2017 Minnesota source gross income
ments. If you become a non-resident in a
is less than $10,400 and you had Minne-
If you received an amended Schedule
future year while payments are being made
sota tax withheld (see line 36 of Schedule
KPI from the partnership and your income
you are required to file form M1AR with
KPI), file Form M1 and Schedule M1NR to
or deductions have changed, you must file
your final resident tax return.
receive a refund.
an amended Minnesota return.
Line 8 — Addition Due to Federal Chang-
Estates and trusts: You are required to file
Individuals: Use Form M1X, Amended Min-
Form M2 and pay tax if the Minnesota
es Not Adopted by Minnesota
nesota Income Tax Return, for the year you
gross income is $600 or more.
Include on Schedule M1NC, Federal Adjust-
are amending.
ments.
Lines 21 – 32
Estates and trusts: You must use the current
Line 10 — Subtraction Due to Federal
Lines 21-32 apply to nonresident part-
version of Form M2X, Amended Income Tax
ners. All income of a Minnesota resident
Return for Estates and Trusts, regardless of
Changes Not Adopted by Minnesota
is assigned to Minnesota, regardless of the
Include on Schedule M1NC, Federal Adjust-
the year you are amending.
source.
ments.
Line Instructions
If certain items are not entirely included in
Line 11 — Increasing Research Activities
Individuals: Include amounts as shown on
your federal adjusted gross income (if an
Schedule KPI. For additional information,
Credit
individual) or federal taxable income (if an
read the appropriate line instructions.
Individuals: Include in the total on line 3
estate or trust) because of passive activity
of Schedule M1C. To claim this credit, you
Estates and trusts: Include the amounts
loss limitations, capital loss limitations,
must include this schedule with Form M1.
from
section 179 limitations or for other reasons,
Line 12 — Greater Minnesota Internship
Schedule KPI:
on Form M2:
include only the amounts that you included
Credit
in your federal adjusted gross income (in-
line 1 . . . . . . . . . . . line 25
Individuals: Include in the total on line 3 of
dividuals) or federal taxable income (estates
line 2 . . . . . . . . . . . line 26
Schedule M1B. to claim this credit, you must
or trusts).
line 3 . . . . . . . . . . . line 27
include this schedule with Form M1.
line 4 . . . . . . . . . . . does not apply
Nonresident individuals: Include lines
line 5 . . . . . . . . . . . line 29
Line 13 — Historic Structure Rehabilita-
21–32 on the corresponding lines in column
line 6 . . . . . . . . . . . line 30
B of Schedule M1NR.
tion Credit
line 7 . . . . . . . . . . . does not apply
Individuals: Include in the total on line 2
Estates and trusts: Lines 21–32 are used
line 8 . . . . . . . . . . . does not apply
of Schedule M1B and enter the NPS project
to determine the partnership’s Minne-
line 9 . . . . . . . . . . . line 35
number in the space provided. To claim this
sota sourced income and non-Minnesota
line 10 . . . . . . . . . . does not apply
credit, you must include this schedule with
sourced income to include on lines 2 and
line 11 . . . . . . . . . . 15d
Form M1.
line 12 . . . . . . . . . . 15c
Continued
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