Schedule Kpc - Partner'S Share Of Income, Credits And Modifications - 2017
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2017 KPC, Partner’s Share of Income, Credits
and Modifications
Partnership: Complete and provide Schedule KPC to each corporate or partnership partner that is domiciled in another state and to any Minnesota corporate or
partnership partner who has adjustments to income. For individual, estate and trust partners, use Schedule KPI instead.
Amended KPC:
Tax year beginning
, 2017 and ending
Partner’s Federal ID Number
FEIN of Partner Ultimately Taxed (see inst) Partnership’s Federal ID Number
Partnership’s Minnesota ID
Partner’s Name
Partnership’s Name
Mailing Address
Mailing Address
City
State
ZIP Code
City
State
ZIP Code
Entity of Partner
Exempt
Partner’s Distributive
(check one box):
Organization
Share:
%
S Corporation
C Corporation
Partnership
Round amounts to the nearest dollar.
Corporate and Partnership Partners
1
1 Nonapportionable Minnesota source income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
2 Total nonapportionable income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
3 Partnership’s minimum fee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
4 Interest income exempt from federal tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
5 State income taxes deducted in arriving at partnership’s net income . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6 Expenses deducted that are attributable to income not taxed by Minnesota
6
(other than interest or mutual fund dividends from U.S. bonds) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7 If the partnership elected section 179 expensing, enter the partner’s
7
flow-through section 179 expensing for Minnesota purposes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8
8 100% of partner’s distributive share of federal bonus depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9
9 Fines, fees and penalties deducted federally as a trade or business expense . . . . . . . . . . . . . . . . . . . . . .
1 0 a
10a Partner’s pro rata gross profit from installment sales of pass-through . . . . . . . . . . . . . . . . . . . . . . . . . .
businesses (see instructions)
1 0 b
10b Partner’s pro rata installment sale income from pass-through . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
businesses (see instructions)
1 1 a
11 Addition due to federal changes not adopted by Minnesota
. . . . . . . . . . . .
1 1 b
. . . . . . . . . . . .
12 Interest from U.S. government bond obligations, minus any expenses
1 2
deducted on the federal return that are attributable to this income . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13 Subtraction due to federal changes not adopted by Minnesota
. . . . . . . . . . . .
1 3 a
1 3 b
. . . . . . . . . . . .
Continued next page
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