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4 NEAR FINAL DRAFT 8/1/24 4
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6 *241861* 6
7 2024 Schedule M1AR, Accelerated Recognition of 7
8 Installment Sale Gains 8
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11 YOURYour First Name and Middle InitialFIRST NAME, INI YOURLast Name LAST NAMEXXXXXXXXXXXXXXXXXXXX 999999999Your Social Security Number 11
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13 MAILING ADDRESSXXXXX CITYXXXXXXXXXXXX MN 11223 1234 13
14 Mailing Address City State ZIP Final Year of Installment Agreement 14
15 NAME OF SCORPORATION 12345678 12345678 15
16 Name of S Corporation or Partnership FEIN Minnesota Tax ID Number 16
17 Complete this schedule if you are reporting installment sale gains from a sale executed after December 31, 2016, of any interest in, or 17
18 assets of, an S corporation or partnership. These amounts are reported on federal Form 6252 or Minnesota Schedule KF, KPI, or KS. 18
19 Do not complete this schedule if you are a full-year Minnesota resident. 19
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21 X I elect to defer installment sale gains under Minnesota Statute 290.0137, paragraph (b), and agree to: 21
22 • File Minnesota income tax returns in all subsequent years when gains are recognized from an installment sale executed after 22
23 December 31, 2016 23
24 • Allocate gains to Minnesota as though the gains were realized in the year of sale 24
25 • Include all relevant federal tax documents reporting the installment sale with subsequent Minnesota tax returns 25
26 If you elect to defer, STOP HERE. Submit this form to verify your election. If you do not elect to defer installment sale gains, complete the 26
27 rest of this schedule. 27
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29 1 Gross profit from Minnesota Schedule KF line 6a, KPI line 7a, and KS line 7a, or 29
30 federal Form 6252 line 16 in the year of the sale... ...... ..... ....... ..... ..... ...... ..... . 1 12345678 30
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32 2 Installment sale income received in prior years (see instructions).... ...... ..... ....... ..... ... 2 12345678 32
33 3 Installment sale income from Minnesota Schedule KF line 6b, KPI line 7b, and KS line 7b, 33
34 or federal Form 6252 line 24 in the current year ...... ...... ...... ..... ..... ...... ..... .... 3 12345678 34
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36 4 Add lines 2 and 3 ... ...... ..... ....... ..... ..... ...... ..... ...... ...... ..... ....... ... 4 12345678 36
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38 5 Subtract line 4 from line 1. Enter the amount here and include on line 6 of Schedule M1MB .. .... 5 12345678 38
39 Residents at the time of sale: Also include this amount on line 13 of Column B 39
40 of Schedule M1NR. STOP HERE. 40
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42 Nonresidents at the Time of Sale 42
43 6 Enter the S corporation’s partnership’sor apportionment percentage thefor year saleof .. ...... 6 12345678 43
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45 7 Allocation percentage of income nonbusiness (see instructions) ... ...... ..... ....... ..... .... 7 12345678 45
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47 8 Enter the amount from line 5 that is nonbusiness income (see instructions) .... ..... ...... ..... 8 12345678 47
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49 9 Subtract line 8 from line 5 .. ...... ...... ..... ...... ..... ....... ..... ...... ..... ...... .. 9 12345678 49
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51 10 Multiply line 7 by line 8 ..... ...... ..... ..... ...... ...... ..... ...... ...... ..... ...... . 10 12345678 51
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53 11 Multiply line 6 by line 9 ..... ...... ..... ..... ...... ...... ..... ...... ...... ..... ...... . 11 12345678 53
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55 12 Add lines 10 and 11. Enter the result here and include on line 13, Column B, of Schedule M1NR ... 12 12345678 55
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