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  2 4  6   8                                                                                                                                                                             10 12  14                       16  18  20                                                                                 22  24  26 28  30  32  34  36 38  40  42  44  46 48  50  52  54  56  58  60  62 64  66         68  70                                   72  74  76 78  80  82  84  86
    3                                                                                                                                                                                                                                                                                                                                                                                                                                                                          3
    4                                                                                                                                                                                                                                                                                                                                  NEAR FINAL DRAFT 8/8/24                                                                                                                 4
    5                                                                                                                                                                                                                                                                                                                                                                                                                                                                          5
    6                                                                                                                                                                                                                                                                                                                                                                                                              *247111*                                                    6
    7                                                                                                                                                                                                                                                                                                                                                                                                                                                                          7
    8  2024 Schedule KF, Beneficiary’s Share of Minnesota Taxable Income                                                                                                                                                                                                                                                                                                                                                                                                       8
    9  Fiduciary: Complete and provide Schedule KF to each estate, trust, or nonresident individual beneficiary with Minnesota source income and                                                                                                                                                                                                                                                                                                                               9
    10 any Minnesota beneficiary who has adjustments to income or credits.                                                                                                                                                                                                                                                                                                                                                                                                     10
    11                                                                                                                                                                                                                                                                                                                                                                                                                                                                         11
    12 Tax year beginning (MM/DD/YYYY)                                                                                                                                                                                                                                                                              MM/ DD/YYYY           , ending (MM/DD/YYYY) MM/ DD/YYYY                         KF:    Amended                                          X                  12
    13                                                                                                                                                                                                                                                                                                                                                                                                                                                                         13
    14                                                                                                                                                                                                                                                                                                                                                                                                                                                                         14
    15 111223333                                                                                                                                                                                                                                                                                                                                          123456789                                 123456789                                                                  15
    16 Beneficiary’s Social Security Number                                                                                                                                                                                                                                                                                                               Estate’s or Trust’s Federal ID Number     Minnesota Tax ID Number                                                    16
    17 BENEFICIARY NAMEXXXXXXXXXXXXXXXXXX                                                                                                                                                                                                                                                                                                                 ESTATE TRUST NAME                                                                                                    17
    18 Beneficiary’s Name                                                                                                                                                                                                                                                                                                                                 Estate’s or Trust’s Name                                                                                             18
    19 BENEFICIARY ADDRESSXXXXXXXXXXXXXXX   FIDUCIARY ADDRESSXXXXXXXXXXXXXXXXXX        19
    20 Address of Beneficiary                                                                                                                                                                                                                                                                                                                             Address of Fiduciary                                                                                                 20
    21 CITYXXXXXXXXXXXXXX  MN   12345                                                                                                                                                                                                                                                                                                                     CITYXXXXXXXXXXXXXX   MN     12345                                                                                    21
    22 Beneficiary City                                                                                                                                                                                                                                                                                                 State         ZIP Code            Fiduciary City                            State                                                   ZIP Code           22
    23 Calculate lines 1–43 the same for all resident and nonresident beneficiaries. Calculate lines 44-48 for estate, trust, and nonresident individual                                                                                                                                                                                                                                                                                                                       23
    24 beneficiaries only. Calculate lines 49-50 for nonresident beneficiaries only. Round amounts to the nearest whole dollar.                                                                                                                                                                                                                                                                                                                                                24
    25 Additions to income                                                                                                                                                                                                                                                                                                                                                                                                 Beneficiary: Include on:                            25
    26                                                                                                                                                                                                                                                                                                                                                                                                                                                                         26
    27   1  State and municipal bond interest from outside Minnesota ... ...... ..... ....... .....  1                                                                                                                                                                                                                                                                                          12345678                Line 1, Schedule M1M                                   27
    28                                                                                                                                                                                                                                                                                                                                                                                                                                                                         28
    29   2                                                                                      State taxes deducted in arriving at net income   .... ...... ...... ..... ...... ...... ...  2                                                                                                                                                                                                  12345678    Line 2, Schedule M1MB                                              29
    30   3                                                                                      Expenses deducted that are attributable to income not taxed by Minne-                                                                                                                                                                                                                                                                                                          30
    31           sota (other than interest or mutual fund dividends from U.S. bonds)    . .  . . . . . . .  . . . . .  . . . .  3                                                                                                                                                                                                                                                               12345678                                          Line 3, Schedule M1M         31
    32   4                                                                                      80 percent of the suspended loss from 2001–2005 or 2008–2023                                                                                                                                                                                                                                                                                                                   32
    33           that was generated by bonus depreciation ... ...... ..... ....... ..... ...... ..... ...  4                                                                                                                                                                                                                                                                                    12345678             Line 4 inst., Sched. M1MB                                 33
    34                                                                                                                                                                                                                                                                                                                                                                                                                                                                         34
    35   5                                                                                      80 percent of federal bonus depreciation  ... ...... ..... ....... ..... ...... ..... .....  5                                                                                                                                                                                                  12345678             Line 1 inst., Sched. M1MB                                 35
    36   6a  Beneficiary’s pro rata gross profit from installment sale of pass-through entities                                                                                                                                                                                                                                                                                                                                                                                36
    37                                                                                          instructions) ... ...... (see ...... ..... ...... ..... ....... ..... ...... ...........                                                                                                                                                                                            6a          12345678           Line          1, Schedule M1AR                              37
    38                                                                                                                                                                                                                                                                                                                                                                                                                                                                         38
    39   6b  Beneficiary’s pro rata installment sale income from sales of pass-through entities   . . .  . . .                                                                                                                                                                                                                                                                     6b           12345678                 Line 3, Schedule M1AR                                 39
    40           (see instructions)                                                                                                                                                                                                                                                                                                                                                                                                                                            40
    41   6c  Applicable                                                                                                                                                                  S corporation’s partnership’sor apportionment percentage of the year saleof                                                                                                                 6c         12345678                 Line 6, Schedule M1AR                                 41
    42           (see instructions)                                                                                                                                                                                                                                                                                                                                                                                                                                            42
    43   7                                                                                      This line intentionally left blank  .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . .                                                                                                                                         7          12345678                                                                       43
    44                                                                                                                                                                                                                                                                                                                                                                                                                                                                         44
    45       8                                                                                  Net operating loss (NOL) carryover adjustment ... ...... ....... ..... ..... ...... ....  8                                                                                                                                                                                                     12345678               Line 5, Schedule M1MB                                   45
    46                                                                                                                                                                                                                                                                                                                                                                                                                                                                         46
    47   9  Foreign derived intangible income (FDII) deduction                                                                                                                                                                                                                                                                         ... ...... ..... ....... ..... ...... .  9               12345678                Line 3, Schedule M1MB                                  47
    48                                                                                                                                                                                                                                                                                                                                                                                                                                                                         48
    49   10    Other additions                                                                                                                                                                                                         ..... ...... . ...... ..... ..... ..... ....... ..... instructions)   (see                                                                10             12345678                            10 instructionsline See                    49
    50                                                                                                                                                                                                                                                                                                                                                                                                                                                                         50
    51   11    This line intentionally left blank   .. ..... ....... ..... ...... ..... ...... ..... .....   11                                                                                                                                                                                                                                                                                                                                                                51
    52                                                                                                                                                                                                                                                                                                                                                                                                                                                                         52
    53   12    This line intentionally left blank   .. ..... ....... ..... ...... ..... ...... ..... .....   12                                                                                                                                                                                                                                                                                                                                                                53
    54                                                                                                                                                                                                                                                                                                                                                                                                                                                                         54
    55   13    This line intentionally left blank   .. ..... ....... ..... ...... ..... ...... ..... .....   13                                                                                                                                                                                                                                                                                                                                                                55
    56                                                                                                                                                                                                                                                                                                                                                                                                                                                                         56
    57   14    This line intentionally left blank   .. ..... ....... ..... ...... ..... ...... ..... .....   14                                                                                                                                                                                                                                                                                                                                                                57
    58                                                                                                                                                                                                                                                                                                                                                                                                                                                                         58
    59   15    This line intentionally left blank   .. ..... ....... ..... ...... ..... ...... ..... .....   15                                                                                                                                                                                                                                                                                                                                                                59
    60                                                                                                                                                                                                                                                                                                                                                                                                                                                                         60
    61                                                                                                                                                                                                                                                                                                                                                                                                                                                                         61
    62                                                                                                                                                                                                                                                                                                                                                                                                                                                      (continued)        62
    63                                                                                                                                                                                                                                                                                                                                                    9995                                                                                                                 63
  2 4  6   8                                                                                                                                                                             10 12  14                       16  18  20                                                                                 22  24  26 28  30  32  34  36 38  40  42  44  46 48  50  52  54  56  58  60  62 64  66         68  70                                   72  74  76 78  80  82  84  86
    65                                                                                                                                                                                                                                                                                                                                                                                                                                                                         65

    1                                                                                                                                                                                                                                                                                                                                                 1
  2 4  6  8                                               10                        12  14                       16  18  20                           22  24  26        28  30          32  34  36         38  40       42  44  46                  48  50     52  54  56        58  60  62 64  66 68  70                   72  74  76   78  80       82  84  86
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    4                                                                                                                                                                                                                                                                                                                                                 4
       2024 KF, page 2
    5                                                                                                                                                                                                                                                                                                                                                 5
    6                                                                                                                                                                                                                                                                                       *247121*6
       BENEFICIARY NAMEXXXXXXXXXXXXXXXXXX                                                                                                                                                                                                           111223333
    7  Beneficiary’s Name                                                                                                                                                                                                                           Beneficiary’s Social Security Number                                                              7
    8  Subtractions from income                                                                                                                                                                                                                                                                     Include on:                                       8
    9   16                                            Interest on U.S. government bond obligations, minus any expenses                                                                                                                                                                                                                                9
    10                       deducted               theon                   federal return that are attributable to this income                                                                                              . ....   ..... .......                 16           12345678  Line Schedule14,     M1M                                   10
    11                                                                                                                                                                                                                                                                                                                                                11
    12  17                                            State income tax refund ... ...... ..... ....... ..... ...... ..... ..... ...... ......   17                                                                                                                               12345678            Line 6, Form M1                                  12
    13                                                                                                                                                                                                                                                                                                                                                13
    14  18                                            Federal bonus depreciation subtraction ... ...... ..... ....... ..... ...... ..... ....   18                                                                                                                               12345678            Line 10, Schedule M1MB                           14
    15                                                                                                                                                                                                                                                                                                                                                15
    16  19                                            Subtraction for railroad maintenance expenses ... ...... ..... ....... ..... ...... .... 19                                                                                                                                12345678  Line 14, Schedule M1MB                                     16
    17                                                                                                                                                                                                                                                                                                                                                17
    18  20                                                This line intentionally left blank ... ...... ..... ....... ..... ...... ..... ..... ...... . 20                                                                                                                       12345678                                                             18
    19                                                                                                                                                                                                                                                                                                                                                19
    20  21                                            Net operating loss (NOL) carryover adjustment ... ...... ..... ....... ..... ...... ...   21                                                                                                                               12345678            Line 13, Schedule M1MB                           20
    21                                                                                                                                                                                                                                                                                                                                                21
    22  22                                            Deferred foreign income (section 965) . ..... ...... ..... ...... ...... ..... ...... ..   22                                                                                                                              12345678  Line 17, Schedule M1MB                                     22
    23                                                                                                                                                                                                                                                                                                                                                23
    24  23                                            Disallowed section 280E expenses of a licensed cannabis business ... ...... ..... .....   23                                                                                                                               12345678  Line 16, Schedule M1MB                                     24
    25                                                                                                                                                                                                                                                                                                                                                25
    26  24                                                Delayed business interest ... ...... ..... ....... ..... ...... ..... ..... ...... .....   24                                                                                                                          12345678  Line 18, Schedule M1MB                                     26
    27                                                                                                                                                                                                                                                                                                                                                27
    28  25                                                Other subtractions (see instructions)... ...... ..... ....... ..... ...... ..... ..... ..   25                                                                                                                         12345678  See line 25 instructions                                   28
    29                                                                                                                                                                                                                                                                                                                                                29
    30  26                                                This line intentionally left blank ... ...... ..... ....... ..... ...... ..... ..... ......   26                                                                                                                       12345678                                                             30
    31                                                                                                                                                                                                                                                                                                                                                31
    32  27                                                This line intentionally left blank ... ...... ..... ....... ..... ...... ..... ..... ......   27                                                                                                                       12345678                                                             32
    33                                                                                                                                                                                                                                                                                                                                                33
    34  28                                                This line intentionally left blank ... ...... ..... ....... ..... ...... ..... ..... ......   28                                                                                                                       12345678                                                             34
    35                                                                                                                                                                                                                                                                                                                                                35
    36  29                                                This line intentionally left blank ... ...... ..... ....... ..... ...... ..... ..... ......   29                                                                                                                       12345678                                                             36
    37                                                                                                                                                                                                                                                                                                                                                37
    38 30                                                 Beneficiary’s pro rata share of a net gain relating to dispositions of Class 2a property                                                                                                             ... .   30        12345678                           Line 2, Schedule NIIT             38
    39                                                                                                                                                                                                                                                                                                                                                39
    40  31                                                Beneficiary’s ratapro            share deductionsof    and modifications relating to 30line                                                                                               ... ......      31           12345678                           Line Schedule7, NIIT              40
    41                                                                                                                                                                                                                                                                                                                                                41
    42 Credits (you must enclose this schedule with your Form M1 if claiming a credit)                                                                                                                                                                                                               Include on:                                      42
    43 32   Any Minnesota income tax withholding credit received by the fiduciary ... ...... ..... .   32                                                                                                                                                                        12345678                           Line 7, Schedule M1W              43
    44                                                                                                                                                                                                                                                                                                                                                44
    45  33                                                Credit for increasing research activities  .. ..... ..... ...... ...... ..... ...... ......   33                                                                                                                       12345678            Line 16, Schedule M1C                            45
    46                                                                                                                                                                                                                                                                                                                                                46
    47  34                                             Film Production Tax Credit   ..... ...... ..... ...... ..... ....... ..... ..... ...... .   34                                                                                                                            12345678            Line 11,  Schedule M1C                           47
    48                          Enter the credit certificate number:  TAXC - 12345678                                                                                                                                                                                                                                                                 48
    49  35                                                Tax Credit for Owners of Agricultural Assets  .. ..... ...... ..... ...... ...... ...... .   35                                                                                                                        12345678            Line 12, Schedule M1C                            49
    50                                                    Enter the certificate number from the certificate                                                                                                                                                                                                                                           50
    51                       you    received thefrom      Rural Finance Authority: AO                                                                                                             12 -123456                                                                                                                                          51
    52  36                                                State Housing Tax                Credit                                                      . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . .36  . . .  .  12345678      Line 15, Schedule M1C                                  52
    53                                              Enter certificate number Minnesotafrom          SHTCHousing:                                                                                             1234 -345678                                                                                                                             53
    54  37                                                Short Line Railroad Infrastructure Modernization Credit   .  . . . . .  . . . . . .  . . . . . . .  . . . . .  . .  .  37                                                                                              12345678      Line 14, Schedule M1C                                  54
    55                                                                                                                                                                                                                                                                                                                                                55
    56  38                                                Credit for Sales of Manufactured Home Parks to Cooperatives  . . .  . . . . . .  . . . . .  . . . . . . .  .  .   38                                                                                                   12345678      Line 13, Schedule M1C                                  56
    57                                                                                                                                                                                                                                                                                                                                   (continued)  57
    58                                                                                                                                                                                                                                                                                                                                                58
    59                                                                                                                                                                                                                                                                                                                                                59
    60                                                                                                                                                                                                                                                                                                                                                60
    61                                                                                                                                                                                                                                                                                                                                                61
    62                                                                                                                                                                                                                                                                                                                                                62
    63                                                                                                                                                                                                                    9995                                                                                                                        63
  2 4  6 8                                                10                        12  14                       16  18  20                           22  24  26        28  30        32  34  36           38  40       42  44  46                  48  50     52  54  56        58  60  62 64  66 68  70                   72  74  76   78  80       82  84  86
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    1                                                                                                                                                                                                                                                                                                                                                                                                                                            1
  2 4  6     8                 10                             12  14                                                                                                      16  18  20                  22  24  26                                                      28  30 32  34  36  38  40                        42  44  46              48  50  52  54  56 58  60  62        64  66 68  70                       72  74  76       78  80  82  84  86
    3                                                                                                                                                                                                                                                                                                                                                                                                                                            3
    4                                                                                                                                                                                                                                                                                                                                                                                                                                            4
       2024 KF, page 3
    5                                                                                                                                                                                                                                                                                                                                                                                                                                            5
    6                                                                                                                                                                                                                                                                                                                                                                               *247191*6
       BENEFICIARY NAMEXXXXXXXXXXXXXXXXXX                                                                                                                                                                                                                                                                                                      111223333
    7  Beneficiary’s Name                                                                                                                                                                                                                                                                                                                      Beneficiary’s Social Security Number                                                              7
    8                                                                                                                                                                                                                                                                                                                                                                                                                                            8
    9  39        Carryover credits from prior years (see instructions)  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . .  .  39                                                                                                                                                                                                                   12345678                          Line 17, Schedule M1C                        9
    10                                                                                                                                                                                                                                                                                                                                                                                                                                           10
    11           D —Credit                                                                                                                                                                            E — Certificate Number                                                           F — Unused Credit                                       G — Remaining Years                                                                               11
    12                                                                                                                                                                                                                                                                                                                                                                                                                                           12
    13           d1                                           12345678  e1                                                                                                                            1234567891   f1                                                                                                  12345678  g1                     12345678                                                                                 13
    14                                                                                                                                                                                                                                                                                                                                                                                                                                           14
    15           d2                                           12345678  e2                                                                                                                            1234567891   f2                                                                                                  12345678  g2                     12345678                                                                                 15
    16                                                                                                                                                                                                                                                                                                                                                                                                                                           16
    17      d3                                                12345678  e3                                                                                                                            1234567891   f3                                                                                                  12345678                g3       12345678                                                                                 17
    18                                                                                                                                                                                                                                                                                                                                                                                                                                           18
    19  40       Credit for Sustainable Aviation Fuel                                                                                                                                                            ...... ..... ....... .. ..... ..... ..... ... ......                                                                                     40      12345678                 Line Schedule12,       M1REF                          19
    20       Enter certificate number from the Department of Agriculture:                                                                                                                                                                                                                                                                    12345678                                                                                            20
    21  41   Credit for historic structure rehabilitation                                                                                                                                                                                                              ... ...... ..... ....... ..... ...... ..... ..   41                                        12345678     Line 7, Schedule M1REF                                            21
    22           National Park Service (NPS) project number:                                                                                                                                                                                                                 12345678                                                                                                                                                            22
    23  42   Pass-Through Entity Tax Credit  ... ...... ...... ..... ...... ..... ...... ...... .....   42                                                                                                                                                                                                                                                        12345678                 Line 10, Schedule M1REF                               23
    24                                                                                                                                                                                                                                                                                                                                                                                                                                           24
    25  43   Minnesota backup withholding   .... ....... ..... ..... ...... ..... ...... ...... ...   43                                                                                                                                                                                                                                                          12345678                                              Line 7, Schedule M1W     25
    26                                                                                                                                                                                                                                                                                                                                                                                                                                           26
    27 Estate, trust, and nonresident individual beneficiaries                                                                                                                                                                                                                                                                                                                                     Include on Schedule                           27
    28 Minnesota portion of amounts from federal Schedule K-1 (1041)                                                                                                                                                                                                                                                                                                                              M1NR, column B on:                             28
    29  44       Capital gain or loss on Minnesota real property  ... ...... ..... ....... ..... ...... ..                                                                                                                                                                                                                                                44      12345678                                                               Line 4  29
    30                                                                                                                                                                                                                                                                                                                                                                                                                                           30
    31  45  a  Business income or loss   . . .  . . . . .  . . . . . .  . . . . . a                                                                                                                                                                                                                                    12345678                                                                                                                  31
    32      b                     Income from Minnesota rents, royalties, part-                                                                                                                                                                                                                                                                                                                                                                  32
    33                            nerships, S corporations, estates and trusts                                                                                                                                                                                                . .  . b                                 12345678                                                                                                                  33
    34                                                                                                                                                                                                                                                                                                                                                                                                                                           34
    35           c  Farm income or loss   . . .  . . . . . .  . . . . .  . . . . .  . .  .  c                                                                                                                                                                                                                          12345678                                                                                                                  35
    36                                                                                                                                                                                                                                                                                                                                                                                                                                           36
    37         Total (add 45a,lines                                                                    45c)  45b, ....... ..... ..... ... ...... ........... ..... ......                                                                                                                                                                                 45      12345678                                                  Line 6               37
    38  46     Interest and dividend income derived from a trade or business                                                                                                                                                                                                                                                                                                                                                                     38
    39       corporations(S   and partnerships) that assignableis                                                                                                                        to Minnesota                                                                                                                  ..... ........ ......              46      12345678                                                               Line 2  39
    40                                                                                                                                                                                                                                                                                                                                                                                                                                           40
    41  47     Other income                                                                                                                                                     ... ...... ..... ....... ..... ...... ..... ..... ...... ...... ...... .                                                                                                  47      12345678                                  Line 8                               41
    42                                                                                                                                                                                                                                                                                                                                                                                                                                           42
    43  48     Minnesota source gross income from this fiduciary                                                                                                                                                                                                             ... ...... ..... ....... ..... ....    48                                            12345678                                              information only         43
    44                                                                                                                                                                                                                                                                                                                                                                                                                                           44
    45 Nonresident beneficiaries                                                                                                                                                                                                                                                                                                                                                                                                                 45
    46 Composite income tax for electing nonresident beneficiaries                                                                                                                                                                                                                                                                                                                                                                               46
    47  49   Minnesota         distributivesource             thisfrom income fiduciary                                                                                                                                                                                                  ..... ....... ...... ........                                    49      12345678                                              information only         47
    48  50     Minnesota composite income tax paid by fiduciary.                                                                                                                                                                                                                                                                                                                                                                                 48
    49       If  the beneficiary elected composite tax,income                                                                                                             check this box                                                                                                                               X      ........  ......            50      12345678                                              composite income tax     49
    50                                                                                                                                                                                                                                                                                                                                                                                                                                           50
    51                                                                                                                                                                                                                                                                                                                                                                                                                                           51
    52  Fiduciary: Enclose this schedule and copies of all Schedules KF and federal Schedules K-1 with your Form M2.                                                                                                                                                                                                                                                                                                                             52
    53 Beneficiary: See instructions. Include this schedule when you file your Form M1.                                                                                                                                                                                                                                                                                                                                                          53
    54                                                                                                                                                                                                                                                                                                                                                                                                                                           54
    55                                                                                                                                                                                                                                                                                                                                                                                                                                           55
    56                                                                                                                                                                                                                                                                                                                                                                                                                                           56
    57                                                                                                                                                                                                                                                                                                                                                                                                                                           57
    58                                                                                                                                                                                                                                                                                                                                                                                                                                           58
    59                                                                                                                                                                                                                                                                                                                                                                                                                                           59
    60                                                                                                                                                                                                                                                                                                                                                                                                                                           60
    61                                                                                                                                                                                                                                                                                                                                                                                                                                           61
    62                                                                                                                                                                                                                                                                                                                                                                                                                                           62
    63                                                                                                                                                                                                                                                                                                                 9995                                                                                                                      63
  2 4  6     8                 10 12  14                                                                                                                                  16  18  20        22  24  26                                                                28  30 32  34  36  38  40                        42  44  46              48  50  52  54  56 58  60  62        64  66 68  70                       72  74  76       78  80  82  84  86
    65                                                                                                                                                                                                                                                                                                                                                                                                                                           65