Schedule Kpc - Partner'S Share Of Income, Credits And Modifications - 2017 Page 4
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42017 Schedule KPC Instructions
(continued)
Line 16 — Historic Structure Rehabilita-
Line 20 and 21 — Apportionment Infor-
Line 11 — Addition Due to Federal
tion Credit
mation
Changes Not Adopted by Minnesota
C corporations: Include this amount and
The apportionment factors are used to deter-
C corporations: Include this amount on
the NPS project number on Form M4, line
mine the Minnesota apportioned income.
Form M4I, line 2k. Enclose a copy of this
5. Be sure to enclose a copy of this sched-
schedule and the schedule of federal adjust-
If the partnership and partner are considered
ule with Form M4.
ment provisions with Form M4.
unitary under Minnesota Statutes 290.17,
S corporations: Schedule KS, line 13 and
subd. 4, [disregarding paragraph (e) (50
S corporations: Pass this information
include the NPS project number.
percent indirect or direct ownership needed
through, pro rata, to shareholders on Sched-
for unity of ownership)] these factors are
ule KS, line 8.
Partnerships: Schedule KPI, line 13 or KPC,
included with the partners’ own factors
line 16 and include the NPS project number.
Partnerships: Pass this information
in determining the income apportioned to
through, pro rata, to partners on Schedule
Minnesota on the partner’s supplemental
Line 17 — Employer Transit Pass
KPI, line 8 or KPC, line 11
schedule. (The supplemental schedule is
C corporations: Include this amount on
Form M4A for corporate partners or M3A
Form M4T, line 19. Be sure to enclose a
Line 12 — Net Interests on U.S. Bonds
for partnership partners.) The partner’s
copy of this schedule with Form M4.
C corporations: Not applicable
entire income is then multiplied by the part-
S corporations: Schedule KS, line 14. You
S corporations: Pass this information
ner’s apportionment ratio to determine the
must enclose a copy of this schedule even
through, pro rata, to shareholders on Sched-
Minnesota portion of its income.
if you are passing the credit through to your
ule KS, line 9.
If the partner is not unitary with the partner-
shareholders.
Partnerships: Schedule KPI, line 9, or KPC,
ship, it will use only these factors to calcu-
Partnerships: Schedule KPI, line 14 or
line 12.
late the Minnesota apportionment ratio to be
KPC, line 17. Be sure to enclose a copy of
used in determining the Minnesota source
Line 13 — Subtraction Due to Federal
this schedule even if you are passing the
income from that K-1. It will be the same
Changes Not Adopted by Minnesota
credit through to your partners.
ratio as the partnership’s Minnesota appor-
C corporations: Include this amount on
tionment ratio, and it will be multiplied by
Line 18 — Enterprise Zone Credit
Form M4I, line 4m. Enclose a copy of this
the K-1 income to determine the Minnesota
C corporations: Include this amount on
schedule and the schedule of federal adjust-
portion of income from that partnership.
Form M4, line 4. Be sure to enclose a copy
ment provisions with Form M4.
of this schedule with Form M4.
S corporations: Pass this information
S corporations: Schedule KS, line 15. You
through, pro rata, to shareholders on Sched-
must enclose a copy of this schedule even
ule KS, line 10.
if you are passing the credit through to your
Partnerships: Pass this information
shareholders.
through, pro rata, to partners on Schedule
Partnerships: Schedule KPI, line 15 or
KPI, line 10 or KPC, line 13
KPC, line 18. You must enclose a copy of
Line 14 — Research Credit
this schedule even if you are passing the
C corporations: Include this amount on
credit through to your partners.
Schedule RD, line 30. Enclose a copy of
this schedule with Form M4.
Apportionment Factors
S corporations: Schedule KS, line 11.
Line 19 — Minnesota Source Gross
Partnerships: Schedule KPI, line 11, or
Income
KPC, 14.
Minnesota source gross income is used to
determine whether an eventual nonresident
Line 15 — Greater Minnesota Internship
partner has a filing requirement with the
Credit
state of Minnesota. This line will help tiered
C corporations: Include this amount on
partnerships determine their Minnesota
Form M4, line 6. Be sure to enclose a copy
source gross income.
of this schedule with Form M4.
Minnesota source gross income is the total
S corporations: Pass this information
of the amounts apportioned to Minnesota
through, pro rata, to shareholders on Sched-
that are included on lines 3, 6, and 7 (other
ule KS, line 12.
than losses) of federal Form 1065; lines
18a, 19 and 20 (other than losses) of federal
Partnerships: Pass this information through,
Form 8825; line 9 of Schedule F; lines 3a,
pro rata, to partners on Schedule KPI, line
5, 6a, 7, 8, 9a, 10 and 11 of Schedule K
12, or KPC, line 15.
(Form 1065); plus Minnesota source gross
income from other partnerships, estates, and
trusts which the entity may be a partner or
beneficiary.
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