NEAR FINAL DRAFT 8/1/24

                                                                                                                                                                                         *247311*

2024 KPC, Partner’s Share of Income, Credits  
and Modifications
Partnership: Complete and provide Schedule KPC to each corporate or partnership partner. For individual, estate and trust partners, use Schedule KPI instead.

Tax year beginning (MM/DD/YYYY)              /     /        and ending (MM/DD/YYYY)            /                /                                                                              Amended KPC:            

Partner’s Federal ID Number                                                 Parternship’s Federal ID Number                                                                                 Partnership’s Minnesota ID

Partner’s Name                                                              Partnership’s Name 

Mailing Address                                                             Mailing Address

City                           State        ZIP Code                        City                                                                         State                                 ZIP Code

Entity of Partner              S Corporation         C Corporation          Exempt          Partnership Partner’s Distributiv                                                                  e
(check one box):                                                            Organization                Share:                                                                                  %

                                                                                                            Round amounts to the nearest dollar.
Corporate and Partnership Partners
 1  Nonapportionable Minnesota source income          . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  .    1

  2   Total nonapportionable income   .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  .  . 2      

  3  Partnership’s minimum fee  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . .  . 3    

  4  Interest income exempt from federal tax  . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . .  . 4              

  5  State taxes deducted in arriving at partnership’s net income   . . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . 5                              
  6  Expenses deducted that are attributable to income not taxed by Minnesota 
     (other than interest or mutual fund dividends from U.S. bonds)    . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . .  . 6                                 
    
  7   100% of partner’s distributive share of federal bonus depreciation  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . .  . 7                                  

  8  Foreign-derived intangible income (FDII) deduction  . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . 8                       

  9   This line intentionally left blank . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . 9  
                                                         
  10a Partner’s pro rata gross profit from installment sales of pass-through  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . .  . 10a                                                                 
      businesses (see instructions)
  10b Partner’s pro rata installment sale income from pass-through . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  .  . 10b                                                            
      businesses (see instructions)
 11  This line intentionally left blank   . . .  . . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . .  . 11    

 12  This line intentionally left blank . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . .  . 12    

 13  This line intentionally left blank . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . .  . 13    

 14  This line intentionally left blank   . . .  . . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . .  . 14    

 15  This line intentionally left blank . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . .  . 15    

 16  This line intentionally left blank . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . .  . 16                                
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                                                                    9995

                                                  NEAR FINAL DRAFT 8/1/24
2024 KPC, page 2
                                                                                                                                                                                          *247321*

Partner’s Name                                                                                                                                                                                Partner’s Federal ID Number

Partnership’s Name                                                                                                                                                                            Partnership’s Federal ID Number
                                                                                                 Round amounts to the nearest dollar.

 17 Interest from U.S. government bond obligations, minus any expenses  
     deducted on the federal return that are attributable to this income . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . .  . 17                                      

 18 Deferred foreign income (section 965)  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . .  . 18                

 19 Disallowed section 280E expenses of a licensed cannabis or hemp business  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  .  . 19 
                                                   
 20  State income tax refund included in income   . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . .  . 20                    

 21  This line intentionally left blank . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . .  . 21      

 22  This line intentionally left blank . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . .  . 22      

 23  Partner’s pro rata share of a net gain relating to dispositions of Class 2a property  . . .  . . . . . .  . . . . .  . . . . . .  . .  . 23                                              

 24  Partner’s pro rata share of deductions and modifications relating to line 23  . .  . . . . .  . . . . . . .  . . . . .  . . . . .  . . .  . 24                                           

 25  State Housing Tax Credit . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . 25   

    Enter certificate number from Minnesota Housing: SHTC -       

 26  Short Line Railroad Infrastructure Modernization Credit   . . . .  . . . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . 26                             

 27  Credit for Sales of Manufactured Home Parks to Cooperatives  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . . .  . . . .  . 27                                     

 28  Credit for increasing research activities  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . .  . 28             

 29  Film Production Tax Credit  . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . .  . 29    

    Enter the credit certificate number: TAXC -  

 30 Tax Credit for Owners of Agricultural Assets . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . 30                   
    Enter the certificate number from the certificate received from the Rural Finance Authority: 

   AO                 

 31  Credit for Sustainable Aviation Fuel   .  . . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . .  . 31          

   Enter certificate number from the Department of Agriculture: 

 32  Credit for historic structure rehabilitation  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  .  . 32              

   National Park Service (NPS) number:                                    

 33  Employer Transit Pass Credit  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . . .  . . .  . 33       

 34  Enterprise Zone Credit  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . 34  
                                                                                                                                                                                              Continued next page

                                                                9995

                                           NEAR FINAL DRAFT 8/1/24
2024 KPC, page 3
                                                                                                                                                                                 *247351*

Partner’s Name                                                                                                                                                                       Partner’s Federal ID Number

Partnership’s Name                                                                                                                                                                   Partnership’s Federal ID Number
                                                                                                                                          Round amounts to the nearest dollar.

 35  Minnesota backup withholding    . . . .  . . . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . .  . 35  
Apportionment Information (partner’s share)
 36 Pro Rata Share MN Source Gross Income  . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . .  . 36           
                                                                                                                                Property                                             Sales

 37  Minnesota   . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  .37             

 38  Everywhere    . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  .38             

Partnership: Include this schedule and copies of federal Schedules K and K-1 with your Form M3.    
Partner: Include this schedule when you file your Form M3, M4 or M8.

                                           9995