Schedule Ks - Shareholder'S Share Of Income, Credits And Modifications - 2017
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4*177411*
2017 KS, Shareholder’s Share of Income,
Credits and Modifications
S corporation: Complete and provide Schedule KS to each nonresident shareholder and Minnesota shareholder who has
adjustments to income.
Amended KS:
Tax year beginning
, 2017 and ending
Shareholder’s Federal ID or Social Security Number
S Corporation’s Federal ID Number
S Corporation’s Minnesota Tax ID
Shareholder’s Name
S Corporation’s Name
Mailing Address
Mailing Address
City
State
ZIP Code
City
State
ZIP Code
Estate
Entity of Shareholder
Shareholder’s percentage of
Individual
%
(place an X in one box):
stock ownership for tax year:
Trust
Exempt Organization
Calculate lines 1–19 the same for all resident and nonresident shareholders. Calculate lines 20-34 for nonresident shareholders only. Round amounts to the nearest
whole dollar.
Form M1 filers,
include on:
Modifications to Federal Taxable Income
1
1 Interest income from non-Minnesota state and municipal bonds . . . . . . . . . .
M1M, line 4
2
2 State income tax deducted in arriving at ordinary or net rental income . . . . . .
M1M, line 7
3 Expenses deducted that are attributable to income not taxed by Minne-
sota (other than interest or mutual fund dividends from U .S . bonds) . . . . . . .
3
M1M, line 9
4 If the S corporation elected section 179 expensing, enter the share-
holder’s flow-through section 179 expensing for Minnesota purposes . . . . . .
4
M1M, see line 6 inst .
5 100% of shareholder’s pro rata share of federal bonus depreciation . . . . . . .
5
M1M, see line 5 inst .
6 Fines, fees and penalties deducted federally
as a trade or business expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
M1M, line 10
7a Shareholder’s Pro rata gross profit from installment sales of pass-through
businesses (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
M1AR, line 1
7a
7b Shareholder’s pro rata installment sale income from pass-through
businesses (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
M1AR, line 2
7b
8
Addition due to federal changes not adopted by Minnesota .
. .
. . . . . . .
M1NC
8a
. . . . . . .
8b
9 Interest from U.S. government bond obligations, minus any expenses
deducted on the federal return that are attributable to this income . . . . . . . .
M1M, line 18
9
10 Subtraction due to federal changes not adopted by Minnesota
. . . . . . .
M1NC
1 0 a
. . . . . . .
1 0 b
11 Credit for increasing research activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1 1
M1C, line 3
12 Greater Minnesota Internship Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
M1B, line 3
1 2
13 Credit for historic structure rehabilitation
and enter NPS project number: . . . . . . . . . . . . . . . . .
1 3
. . .
M1B, line 2
9995
Continued next page
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