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    3                                                                                           NEAR FINAL DRAFT 8/1/24                                                                                                                                                                               3
    4                                                                                                                                                                                                                                                                                                 4
    5                                                                                                                                                                                                                                                                                                 5
    6                                                                                                                                                                                              *242011*6
    7                                                                                                                                                                                                                                                                                                 7
       2024 Form M2, Income Tax Return for Estates and Trusts 
    8                                                                                                                                                                                Do not use staples on anything you submit.                                                                       8
    9  Tax year beginning (MM/DD/YYYY)                                               MM/DD/YYYY              , ending (MM/DD/YYYY)                             MM/DD/YYYY                                                                                                                             9
    10                                                                                                                                                                                                                                                                                                10
    11                                                                                                                                                                                                                                                                                                11
    12 NAME OF ESTATE OR TRUSTXXXXXXX                                                                                       123456789                                              123456789                                                                             1234                         12
    13 Name of Estate or Trust                                                                         Check if name           Federal ID Number                                   Minnesota ID Number                                                                        Number of Schedules KF  13
                                                                                                       has changed:  X
    14 BENEFICIARY NAMEXXXXXXXXXXXXXX                                                                                       111223333                                              MM / DD/YYYY 1234                                                                                                  14
    15 Name and title of fiduciary                                                              Check if address               Decedent’s Social Security Number                   Date of Death                                                                              Number of Beneficiaries 15
                                                                                                has changed:         X
    16 FIDUCIARY ADDRESSXXXXXXXXXXXXXX                                                                                         CITYXXXXXXXXXX   MN                                                                                                                            123451234               16
    17 Current address of fiduciary                                                                                            Fiduciary City                                      Fiduciary State                                                                            Fiduciary ZIP Code      17
    18 DECEDENT ADDRESSXXXXXXXXXXXXXX                                                                                       CITYXXXXXXXXXX   MN                                                                                                                               123451234               18
    19 Decedent’s last address or grantor’s address when trust became irrevocable                                              Decedent or Grantor City                            Decedent or Grantor State  Decedent or Grantor ZIP                                                                 19
    20 Check all that apply:                                                                                                                                                                                                                                                                          20
    21 X    Initial Return                                                                                            X        Final Return                                                        X     Section 645 Election                                                                         21
    22                                                                                                                                                                                                                                                                                                22
    23 X    Grantor Trust                                                                                             X        Statutory Resident                                                  X   ESBT                                                                                           23
    24                                                                                                                                                                                                                                                                                                24
    25 X   Irrevocable Trust — Date trust became irrevocable                                    11223333              X        Statutory Nonresident                                               X   QSST                                                                                           25
    26                                                                                                                                                                                                                                                                                                26
    27 X       Decedent’s Estate — Gross value of estate 11122333                                                     X        Due Process Nonresident (see Schedule M2RT)                         X                                                       Trust/Estate Owns or                       27
    28                                                                                                                                                                                                                                                     Operates a Business —                      28
    29 X       Form M706 Filed                                                                                        X        Composite Income Tax                                                                                                        FEIN 123456789                             29
    30                                                                                                                                                                                                                                                                                                30
    31  X    Bankruptcy Estate —                                                                                      X        Installment sale of pass-                                           X                                                       Tax Position Disclosure                    31
    32                              Debtor Social Security Number (SSN)              111223333                                 through assets interestsor                                                                                                  (enclose Form TPD)                         32
    33                              If filing jointly, second debtor SSN     111223333                                                                                                                                                                                                                33
    34                                                                                                                                                                                                                                                                                                34
    35   1  Federal taxable income (from line 23 of federal Form 1041)   . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . .  .                                                      1                                          12345678                35
    36                                                                                                                                                                                                                                                                                                36
    37   2  Fiduciary’s deductions and losses not allowed by Minnesota (enclose Schedule M2NM)                                                                              . . .  . . . . . .  . . . . .  . . . . . . .  .  .    2                                           12345678                37
    38                                                                                                                                                                                                                                                                                                38
    39   3  Capital gain amount of lump-sum distribution (enclose federal Form 4972)  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  .  .  3                                                                                                           12345678                39
    40                                                                                                                                                                                                                                                                                                40
    41   4  Additions (from line 75, column E, on page 5 of this form)  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . .  .  4                                                                                           12345678 41
    42                                                                                                                                                                                                                                                                                                42
    43   5  Add lines 1 through 4                                          . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  .  .  5                      12345678                43
    44                                                                                                                                                                                                                                                                                                44
    45   6  Subtractions (from line 75, column E, on page 5 of this form)   . . .  . . . . . .  . . . . .  . . . . . .     6                                                       12345678                                                                                                           45
    46                                                                                                                                                                                                                                                                                                46
    47   7  Fiduciary’s income non-Minnesotafrom         sources                                       (enclose Schedule M2NM)                             . . .  . . . . .    7   12345678                                                                                                           47
    48                                                                                                                                                                                                                                                                                                48
    49   8  Add lines 6 and 7    . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . .  .    8                                                        12345678                49
    50                                                                                                                                                                                                                                                                                                50
    51   9                          Minnesota taxable net income. Subtract line 8 from line 5   . . . . .  . . . . . .  . . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  .  .    9                                                                   12345678                51
    52                                                                                                                                                                                                                                                                                                52
    53  10    Tax from table in Form M2 instructions . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . .  . 10                                                                             12345678                53
    54                                                                                                                                                                                                                                                                                                54
    55  11    Tax from S portion of an Electing Small Business Trust (enclose Schedule M2SB)  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . .  . 11                                                                                                              12345678                55
    56                                                                                                                                                                                                                                                                                                56
    57  12    Minnesota Net Investment Income Tax (enclose Schedule NIIT)  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . 12                                                                                                   12345678                57
    58                                                                                                                                                                                                                                                                                                58
    59  13                          Total of tax from (enclose appropriate schedules):                 X    a. Schedule M1LS    X    b.  Schedule M2MT                                . . .  . . . .  . 13                                                                    12345678                59
    60                                                                                                                                                                                                                                                                                                60
    61  14    Composite income tax for nonresident beneficiaries (enclose Schedules KF)                                                                    . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . .  . 14                                           12345678                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

    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  2024 M2,  page 2                                                                                                                                                                                                                                                       4
    5                                                                                                                                                                                                                                                                         5
    6                                                                                                                                                                                                                                 *242021*                                6
    7                                                                                                                                                                                                                                                                         7
    8   15     Total 2024 income tax. Add lines 10 through 14   .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  .   15                                                                    12345678          8
    9                                                                                                                                                                                                                                                                         9
    10  1 6    Credit for taxes paid to another state  . .  . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . .   16                                                          12345678          10
    11                                                                                                                                                                                                                                                                        11
    12  17         Film Production Tax Credit                                            . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .   17     12345678          12
    13       Enter the credit certificate number:  TAXC - 12345678                                                                                                                                                                                                            13
    14                                                                                                                                                                                                                                                                        14
    15  18         Tax Credit for Owners of Agricultural Assets   .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .   18                                                            12345678 15
    16       Enter certificate number from the Rural Finance Authority:                                                                                                                                                                                                       16
    17       AO12 -345678                                                                                                                                                                                                                                                     17
    18                                                                                                                                                                                                                                                                        18
    19  19         State Housing Tax       Credit                                     . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . .19  . .  . .     1234567819
    20       Enter certificate number Minnesotafrom          SHTCHousing:                                                                 1234 -            345678                                                                                                            20
    21                                                                                                                                                                                                                                                                        21
    22  20         Short Line Railroad Infrastructure Modernization Credit   .  . . . . .  . . . . . .  . . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .   20                                                                       12345678          22
    23                                                                                                                                                                                                                                                                        23
    24  21         Credit for Sales of Manufactured Home Parks to Cooperatives   . . . .  . . . . .  . . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . .   21                                                                              12345678 24
    25                                                                                                                                                                                                                                                                        25
    26  22         Credit for increasing research activities (enclose Schedule KPI, KS, or KF)  . .  . . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . .   22                                                                                12345678 26
    27                                                                                                                                                                                                                                                                        27
    28  23         Other nonrefundable credits (see instructions)                                                           . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .   23       12345678 28
    29                                                                                                                                                                                                                                                                        29
    30  24         Carryover credits from prior years (see instructions)  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . .  .  24                                                               12345678                       30
    31                                                                                                                                                                                                                                                                        31
    32             D —Credit                                                                       E — Certificate Number                                   F — Unused Credit                                                                                                 32
    33                                                                                                                                                                                                                                                                        33
    34             d1                                                     12345678                 e1     1234567891234                                     f1                      12345678                                                                                  34
    35                                                                                                                                                                                                                                                                        35
    36             d2                                                     12345678                 e2     1234567891234                                     f2                    12345678                                                                                    36
    37                                                                                                                                                                                                                                                                        37
    38             d3                                                     12345678                 e3 1234567891234                                         f3                    12345678                                                                                    38
    39                                                                                                                                                                                                                                                                        39
    40  25         Total nonrefundable credits. Add lines 16 through 24  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  .   25                                                                    12345678          40
    41                                                                                                                                                                                                                                                                        41
    42  26         Subtract line 25 from line 15 (if result is zero or less, leave blank)123456  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . .   26                                                                  12345678          42
    43                                                                                                                                                                                                                                                                        43
    44  27         Pass-Through Entity Tax Credit (enclose Schedule KPI, KS, or KF)  . . . . .  . . . . . .  . . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . .  .   27                                                                            12345678          44
    45                                                                                                                                                                                                                                                                        45
    46  28  Minnesota income tax withheld (enclose documentation)   . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .  .   28                                                                                    12345678          46
    47                                                                                                                                                                                                                                                                        47
    48  29         Total estimated tax payments and extension payments   .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  .   29                                                                        12345678          48
    49                                                                                                                                                                                                                                                                        49
    50 30          Historic Structure Rehabilitation Tax Credit   . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  .   30                                                          12345678          50
    51       Enter National Park Service (NPS) project number:                                                                   123456                                                                                                                                       51
    52                                                                                                                                                                                                                                                                        52
    53  31         Credit for sustainable aviation fuel                                                 . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . .   31     12345678          53
    54       Enter certificate number from the Department of Agriculture                                                                               12345678                                                                                                               54
    55  32         Other refundable credits (see instructions)                                                     . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . .   32       12345678          55
    56                                                                                                                                                                                                                                                                        56
    57  33         Add lines 27 through 32  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .   33                                              12345678          57
    58                                                                                                                                                                                                                                                                        58
    59  34  Tax due. If line 26 is more than line 33, subtract line 33 from line 26  . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .   34                                                                                     12345678          59
    60                                                                                                                                                                                                                                                                        60
    61                                                                                                                                                                                                                                                                        61
                                                                                                                                                                                                                                                            (continued)
    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  2024 M2,  page 3                                                                                                                                                                                                                                                              4
    5                                                                                                                                                                                                                                                                                5
    6                                                                                                                                    *242031*                                                                                                                                    6
    7                                                                                                                                                                                                                                                                                7
    8                                                                                                                                                                                                                                                                                8
    9   35  Penalty (see instructions)    . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  .    35                                                  12345678               9
    10                                                                                                                                                                                                                                                                               10
    11  36  Interest (see instructions)    .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . .  . . . . . .  . . . .  36                                                   12345678               11
    12                                                                                                                                                                                                                                                                               12
    13  37  Trusts only: Additional charge for underpaying estimated tax (enclose Schedule EST)    . . . . .  . . . . . .  . . . . . .  . . . . .   37                                                                                                        12345678               13
    14                                                                                                                                                                                                                                                                               14
    15  38  AMOUNT DUE. If you entered an amount on line 34, add lines 34 through 37.                                                                                                                                                                                                15
    16                                                                                                                                                                                                                                                                               16
    17      Check payment method:        X    check    X     electronic (see instructions)  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . .   38                                                                                             12345678               17
    18                                                                                                                                                                                                                                                                               18
    19  39  Overpayment. If line 33 is more than the sum of lines 26 and 35 through 37, subtract lines 26                                                                                                                                                                            19
    20      and 35 through 37 from line 33  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .    39     12345678               20
    21                                                                                                                                                                                                                                                                               21
    22  40  If you are paying estimated tax for 2025, enter the amount from line 39 you want applied to it, if any   . . .  . . . . .                                                                                                                  40     12345678               22
    23                                                                                                                                                                                                                                                                               23
    24  41  REFUND. Subtract line 40 from line 39     . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  .   41                                                               12345678               24
    25                                                                                                                                                                                                                                                                               25
    26  42  To have your refund direct deposited, enter the following. Otherwise, you will receive a check.                                                                                                                                                                          26
    27                                                                                                                                                                                                                                                                               27
    28            X   Checking     X   Savings      123456789                       12345678901234567                                                                                                                                                                                28
    29                                              Routing number                            Account number (use an account not associated with any foreign banks)                                                                                                                  29
    30                                                                                                                                                                                                                                                                               30
    31                                                            111223333                                     MM/DD/YYYY                                                                                                                             1112233333                    31
    32 Signature of Fiduciary or Officer Representing Fiduciary   Minnesota Tax ID or Social Security Number           Date (MM/DD/YYYY)                                                                                                               Direct Phone                  32
    33 PRINT NAME OF CONTACT                                      EMAIL ADDRESS FOR                                X     Fiduciary E-mail                                                                                                                   X   Paid Preparer E-mail 33
    34 Print Name of Contact                                      E-mail Address for Correspondence, if Desired                                                                                                                                                                      34
    35                                                            111223333                                     MM/DD/YYYY                                                                                                                             1112223333                    35
    36 Paid Preparer’s Signature                                  Preparer’s PTIN                               Date (MM/DD/YYYY)                                                                                                                      Direct Phone                  36
    37                                                                                                                                                                                                                                                                               37
    38 X    I authorize the Minnesota Department of Revenue to discuss this tax return with the preparer.                                                                                                                                                                            38
    39                                                                                                                                                                                                                                                                               39
    40 X    I do not want my paid preparer to file my return electronically.                                                                                                                                                                                                         40
    41                                                                                                                                                                                                                                                                               41
    42                                                                                                                                                                                                                                                                               42
    43                                                                                                                                                                                                                                                                               43
    44 Enclose a copy of federal Form 1041, Schedules K-1, and other federal schedules.                                                                                                                                                                                              44
    45 Mail to:                                                                                                                                                                                                                                                                      45
    46 Minnesota Fiduciary Income Tax                                                                                                                                                                                                                                                46
    47 Mail Station 1310                                                                                                                                                                                                                                                             47
    48 600 N. Robert St.                                                                                                                                                                                                                                                             48
    49 St. Paul, MN 55146-1310                                                                                                                                                                                                                                                       49
    50                                                                                                                                                                                                                                                                               50
    51                                                                                                                                                                                                                                                                               51
    52                                                                                                                                                                                                                                                                               52
    53                                                                                                                                                                                                                                                                               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

    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  2024 M2,  page 4                                                                                                                                                                                                                                   4
    5                                                                                                                                                                                                                                                     5
    6                                                                                                                                                                                                                     *242041*6
    7  Additions to Income                                                                                                                                                                                                                                7
    8                                                                                                                                                                                                                                                     8
    9   43                  State and municipal bond interest from outside Minnesota   . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . .  .     43                                                   12345678                 9
    10                                                                                                                                                                                                                                                    10
    11  44                  State taxes deducted in arriving at net income  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . .  .     44                                      12345678                 11
    12  45                  Expenses deducted on your federal return that are attributable to income not taxed                                                                                                                                            12
    13     by Minnesota (other than interest or mutual fund dividends from U.S. bonds)                                                                               . . .  . . . . . .  . . . . .  . . . . . . .  .     45      12345678                 13
    14  46                  80 percent of the suspended loss from 2001–2005 or 2008–2023 on your                                                                                                                                                          14
    15     federal return that was generated by bonus depreciation (see instructions)                                                                            . . .  . . . . . .  . . . . .  . . . . . . .  . .  .     46     12345678                 15
    16                                                                                                                                                                                                                                                    16
    17  47percent80      of federal bonus depreciation                                                 . . .  . . . . . .  . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  .  47 . .  .     12345678                 17
    18                                                                                                                                                                                                                                                    18
    19  48Section        199A qualified business income                                              . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . .48 .  .     12345678                 19
    20                                                                                                                                                                                                                                                    20
    21  49                  This line intentionally left blank   . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  .    49                      12345678                 21
    22                                                                                                                                                                                                                                                    22
    23  50                  Net operating loss (NOL) carryover adjustment  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . .  .     50                                       12345678                 23
    24                                                                                                                                                                                                                                                    24
    25  51                  Foreign-derived intangible income (FDII) deduction                                          .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . .51  .  .      12345678                 25
    26                                                                                                                                                                                                                                                    26
    27  52                  Other additions (see instructions)  .  . . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  .     52                          12345678                 27
    28                                                                                                                                                                                                                                                    28
    29  53                  This line intentionally left blank    . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  .     53                                               29
    30                                                                                                                                                                                                                                                    30
    31  54                  This line intentionally left blank    . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  .     54                                               31
    32                                                                                                                                                                                                                                                    32
    33  55                  This line intentionally left blank    . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  .     55                                               33
    34                                                                                                                                                                                                                                                    34
    35  56                  This line intentionally left blank    . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  .     56                                               35
    36                                                                                                                                                                                                                                                    36
    37  57                  Add lines 43 through 56. Enter the result here and on line 76, column E, under Additions   . .  . . . . . .  . . .  .     57                                                                         12345678                 37
    38                                                                                                                                                                                                                                                    38
    39                                                                                                                                                                                                                                                    39
       Subtractions from Income
    40                                                                                                                                                                                                                                                    40
    41  58                  Interest on U.S. government bond obligations, minus any expenses                                                                                                                                                              41
    42     deducted on your federal return that are attributable to this income    . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . .  .     58                                                                        12345678                 42
    43                                                                                                                                                                                                                                                    43
    44  59  State income tax refund included on federal return   . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .  . . . .  .     59                                                          12345678                 44
    45                                                                                                                                                                                                                                                    45
    46  60  Federal bonus depreciation subtraction (see instructions,)   . . . . .  . . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . .  . . . .  .     60                                                               12345678                 46
    47                                                                                                                                                                                                                                                    47
    48  61                  This line intentionally left blank   . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . .    61                         12345678                 48
    49                                                                                                                                                                                                                                                    49
    50  62                  Subtraction for railroad maintenance expenses  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . .  .     62                                       12345678                 50
    51                                                                                                                                                                                                                                                    51
    52  63  Net operating loss carryover adjustment  . . . .  . . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . .  .     63                                                  12345678                 52
    53                                                                                                                                                                                                                                                    53
    54  64  Deferred foreign income (Section 965)  . . . .  . . . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  .     64                                                12345678                 54
    55                                                                                                                                                                                                                                                    55
    56  65  Disallowed section 280E expenses of a licensed cannabis or hemp business  . . . . .  . . . . .  . . . . . . .  . . . . .  .  .     65                                                                                12345678                 56
    57                                                                                                                                                                                                                                                    57
    58  66                  Delayed business interest  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  .     66                    12345678                 58
    59                                                                                                                                                                                                                                                    59
    60  67                  Delayed net operating loss deduction  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  .  .     67                              12345678                 60
    61                                                                                                                                                                                                                                                    61
    62                                                                                                                                                                                                                                                    62
    63                                                                                                                                        9995                                                                               (continued)              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  2024 M2,  page 5                                                                                                                                                                                                       4
    5                                                                                                                                                                                                                         5
    6                                                                                                                                                                                     *242051*6
    7                                                                                                                                                                                                                         7
    8                                                                                                                                                                                                                         8
    9   68   Other subtractions (see instructions) . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . .  .     68           12345678                     9
    10                                                                                                                                                                                                                        10
    11  69   This line intentionally left blank    . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  .     69                                  11
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    13  70   This line intentionally left blank    . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  .     70                                  13
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    15  71   This line intentionally left blank    . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  .     71                                  15
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    17  72   This line intentionally left blank    . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  .     72                                  17
    18                                                                                                                                                                                                                        18
    19  73   Add lines 58 through 72. Enter the result here and on line 76, column E, under Subtractions         . . .  . . . . . .  .     73                                                    12345678                     19
    20                                                                                                                                                                                                                        20
    21                                                                                                                                                                                                                        21
    22 Allocation of Adjustments Between Fiduciary and Beneficiaries (see instructions)                                                                                                                                       22
    23                                                                                                                                                                                                                        23
    24                  A                           B                 C                       D                                                                                                         E                     24
    25                                          Beneficiary’s Social Share of federal         Percent of total on                           Shares assignable to beneficiary and to fiduciary                                 25
    26          Name of each beneficiary        Security number      distributable net income line 76, column C Additions                                                                                 Subtractions        26
    27                                                                                                                                                                                                                        27
    28   74  BENEFICIARYNAME                    111223333             12345678                123    %          12345678                                                                                  12345678            28
    29                                                                                                                                                                                                                        29
    30     BENEFICIARYNAME                      111223333             12345678                123%              12345678                                                                                  12345678            30
    31                                                                                                                                                                                                                        31
    32                                                                                               %                                                                                                                        32
             BENEFICIARYNAME 111223333                                12345678                123               12345678                                                                                  12345678
    33                                                                                                                                                                                                                        33
    34     BENEFICIARYNAME                      111223333                                     123%                                                                                                                            34
                                                                      12345678                                  12345678                                                                                  12345678
    35                                                                                                                                                                                                                        35
    36                                                                                               %                                                                                                                        36
             BENEFICIARYNAME                    111223333             12345678                123               12345678                                                                                  12345678
    37                                                                                                                                                                                                                        37
    38     BENEFICIARYNAME                      111223333             12345678                123%              12345678                                                                                  12345678            38
    39                                                                                                                                                                                                                        39
    40     BENEFICIARYNAME                      111223333             12345678                123%              12345678                                                                                  12345678            40
    41                                                                                                                                                                                                                        41
    42   75   Fiduciary                                               12345678                123%                                                                                                                            42
                                                                                                                12345678                                                                                  12345678
    43                                                                                                                                                                                                                        43
    44   76   Total                                                   12345678                100%              12345678                                                                                  12345678            44
    45                                                                                                                                                                                                                        45
    46     Enclose separate sheet, if needed.                                                                                                                                                                                 46
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    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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