Minnesota Individual Income Tax Forms And Instructions - 2017 Page 12
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33Line Instructions (cont.)
• Received a military pension or other
If you had large deductions, such as gam-
Reminder: Partners, Shareholders,
military retirement pay
bling losses, mortgage interest, or K-12
and Beneficiaries. If you are a partner
education expenses, when you filed your
• Were insolvent and received a gain from
of a partnership, a shareholder of an S
federal or state return, or if you were re-
the sale of your farm property that is
corporation, or a beneficiary of a trust,
quired to pay federal alternative minimum
included in line 37 of Form 1040
report on line 7 of Schedule M1M
tax, complete Schedule M1MT, Alternative
• Received a post service education award
state income tax passed through to you
Minimum Tax.
for service in an AmeriCorps National
by the entity, as reported on Schedule
Service program
Before you complete Schedule M1MT,
KPI, KS, or KF. Do not include in line
you must complete Part I of federal Form
2 of Form M1.
• Claimed the Minnesota subtraction al-
6251, even if you were not required to file
lowed for the net operating loss claimed
Form 6251 with your federal return.
under the Worker, Homeownership, and
• Intangible drilling costs
Business Assistance Act of 2009
Complete the following steps to determine
• Depletion
• Reported a prior year addback for
if you are required to pay Minnesota alter-
• Reserves for losses on bad debts of
reacquisition of business indebtedness
native minimum tax:
financial institutions
income
1 Enter the amount of personal exemp-
• Circulation and research and experi-
• Had railroad maintenance expenses not
tions from line 42 of federal Form 1040
mental expenditures
allowed as a federal deduction
or line 26 of Form 1040A.
• Mining exploration and development
• Were subject to the federal itemized
2 Enter the total of the following items:
costs
deduction phaseout and your itemized
• Accelerated depreciation
• Installment sales of property
deductions were less than your allow-
• Exercise of incentive stock options
able standard deduction
• Tax sheltered farm loss
• Tax-exempt interest or dividends from
• Contributed to a qualified Section 529
• Passive activity loss
Minnesota private activity bonds not
Plan and did not claim a credit for these
• Income from long-term contracts for
included on lines 3 and 4 of Schedule
contributions
the manufacture, installation, or con-
M1M
• Received Social Security benefits in
struction of property to be completed
• K-12 education expenses from line 17
2017 that you paid federal tax on
after 2017
of Schedule M1M
• Contributed to a designated first-time
• Amortization of pollution-control
home buyer savings account
facilities
• Reported a discharge of indebtedness of
educational loans on completion of an
Schedule M1R—Income Qualifications
income-driven repayment program
If you (or your spouse if filing a joint return) were born before January 2, 1953, or were
Tax Before Credits
permanently and totally disabled, use the table below to see if you are eligible for the
Lines 9–14
subtraction.
Complete Schedule M1R and Schedule M1M:
Line 9—Tax From Table
Turn to the tax table on pages 26 through
And your
And your Railroad
32. Using the amount on line 8, find the
adjusted
Ret. Board benefits
gross
and nontaxable
tax amount in the column under your fil-
income* is
Social Security
ing status. Enter the amount of tax from
If you are:
less than:
are less than:
the table on line 9.
Married, filing a joint return, and both spouses
Line 10—Alternative Minimum Tax
are 65 or older or disabled . . . . . . . . . . . . . . . . . . . . . . . . . $42,000 . . . . . . . . . . . . . . $12,000
(Schedule M1MT)
Married, filing a joint return, and one spouse
You may be required to pay Minnesota
is 65 or older or disabled . . . . . . . . . . . . . . . . . . . . . . . . . . . $38,500 . . . . . . . . . . . . . . $12,000
alternative minimum tax even if you were
Married, filing a separate return, lived
not required to pay federal alternative
apart from your spouse for all of 2017,
minimum tax.
and are 65 or older or disabled . . . . . . . . . . . . . . . . . . . . . $21,000 . . . . . . . . . . . . . . $ 6,000
Filing single, head of household,
or qualifying widow(er) and
are 65 or older or disabled . . . . . . . . . . . . . . . . . . . . . . . . . $33,700 . . . . . . . . . . . . . . $ 9,600
* Adjusted gross income is federal adjusted gross income (see instructions for M1R line
9a) plus any lump-sum distributions reported on federal Form 4972 less any taxable
12
Railroad Retirement Board benefits (see instructions for M1R line 9).
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