Schedule Ks - Shareholder'S Share Of Income, Credits And Modifications - 2016
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3KS
16821
Shareholder’s Share of Income,
Credits and Modifications 2016
S corporation: Complete and provide Schedule KS to each nonresident shareholder and Minnesota shareholder who has
adjustments to income.
Amended KS:
Tax year beginning
, 2016 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
Entity of Shareholder
Shareholder’s percentage of
Estate
Individual
%
(place an X in one box):
stock ownership for tax year:
Trust
Exempt Organization
Calculate lines 1–18 the same for all resident and nonresident shareholders. Calculate
lines 19-33 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 State income tax deducted in arriving at ordinary or net rental income . . . .
2
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
6
as a trade or business expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
M1M, line 10
This line intentionally left blank.
7
Addition due to federal changes not adopted by Minnesota
. . . . . .
. . .
7a
M1NC, see inst .
7b
. .
M1NC, see inst .
8 Interest from U .S . government bond obligations, minus any expenses
deducted on the federal return that are attributable to this income . . . . . .
8
M1M, line 16
9 a
9
Subtraction due to federal changes not adopted by
This line intentionally left blank.
Minnesota . . . . .
. .
M1NC, see inst .
9 b
. .
M1NC, see inst .
1 0
10 Credit for increasing research activities . . . . . . . . . . . . . . . . . . . . . . . . . . . .
M1C, line 3
11 Greater Minnesota Internship Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1 1
M1B, line 3
12 Credit for historic structure rehabilitation
1 2
and enter NPS project number: . . . . . . . . . . . . . . .
. .
M1B, line 2
1 3
13 Employer Transit Pass Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
M1C, line 4
1 4
14 Enterprise Zone Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
M1B, line 4
Continued next page
9995
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