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    3                                                                                                                                                                                                            3
    4                                                         FINAL DRAFT — 10/2/23                                                                                                                              4
    5                                                                                                                                                                                                            5
    6                                                                                                                                                                        *237111*                            6
    7                                                                                                                                                                                                            7
    8  2023 Schedule KF, Beneficiary’s Share of Minnesota Taxable Income                                                                                                                                         8
    9  Fiduciary: Complete and provide Schedule KF to each estate, trust, or nonresident individual beneficiary with Minnesota source income and                                                                 9
    10 any Minnesota beneficiary who has adjustments to income or credits.                                                                                                                                       10
    11                                                                                                                                                                                                           11
    12 Tax year beginning (MM/DD/YYYY) MM/       DD/ YYYY           , ending (MM/DD/YYYY) MM/ DD/ YYYY                                                                       Amended KF:    X                    12
    13                                                                                                                                                                                                           13
    14                                                                                                                                                                                                           14
    15 111223333                                                               123456789                                                                                     123456789                           15
    16 Beneficiary’s Social Security Number                                    Estate’s or Trust’s Federal ID Number                                                         Minnesota Tax ID Number             16
    17 BENEFICIARY NAMEXXXXXXXXXXXXXXXXXX                                       ESTATE TRUST NAME                                                                                                                17
    18 Beneficiary’s Name                                                      Estate’s or Trust’s Name                                                                                                          18
    19 BENEFICIARY ADDRESSXXXXXXXXXXXXXXX   FIDUCIARY ADDRESSXXXXXXXXXXXXXXXXXX        19
    20 Address of Beneficiary                                                  Address of Fiduciary                                                                                                              20
    21 CITYXXXXXXXXXXXXXX  MN   12345                                           CITYXXXXXXXXXXXXXX   MN     12345                                                                                                21
    22 Beneficiary City                          State     ZIP Code            Fiduciary City                                                                                State         ZIP Code              22
    23 Calculate lines 1–40 the same for all resident and nonresident beneficiaries. Calculate lines 41-45 for estate, trust, and nonresident individual                                                         23
    24 beneficiaries only. Calculate lines 46-47 for nonresident beneficiaries only. Round amounts to the nearest whole dollar.                                                                                  24
    25 Additions to income                                                                                                                                                           Beneficiary: Include on:    25
    26                                                                                                                                                                                                           26
    27   1  State and municipal bond interest from outside Minnesota ... ...... ..... ....... .....  1                                                            12345678               Line 1, Schedule M1M    27
    28                                                                                                                                                                                                           28
    29   2     State taxes deducted in arriving at net income   .... ...... ...... ..... ...... ...... ...  2                                                     12345678    Line 2, Schedule M1MB              29
    30   3     Expenses deducted that are attributable to income not taxed by Minne-                                                                                                                             30
    31       sota (other than interest or mutual fund dividends from U.S. bonds)    . .  . . . . . . .  . . . . .  . . . .  3                                     12345678              Line 3, Schedule M1M     31
    32   4     80 percent of the suspended loss from 2001–2005 or 2008–2022                                                                                                                                      32
    33       that was generated by bonus depreciation ... ...... ..... ....... ..... ...... ..... ...  4                                                          12345678            Line 4 inst., Sched. M1MB  33
    34                                                                                                                                                                                                           34
    35   5     80 percent of federal bonus depreciation  ... ...... ..... ....... ..... ...... ..... .....  5                                                     12345678            Line 1 inst., Sched. M1MB  35
    36   6a  Beneficiary’s pro rata gross profit from installment sale of pass-through entities                                                                                                                  36
    37         (see instructions) ... ...... ..... ....... ..... ...... ..... ..... ...... ...... ......  6a                                                      12345678                Line 1, Schedule M1AR  37
    38                                                                                                                                                                                                           38
    39   6b  Beneficiary’s pro rata installment sale income from sales of pass-through entities   . . .  . . .                                              6b    12345678                Line 3, Schedule M1AR  39
    40       (see instructions)                                                                                                                                                                                  40
    41   6c  Applicable S corporation’s or partnership’s apportionment percentage of the year of sale      6c                                                     12345678                Line 6, Schedule M1AR  41
    42       (see instructions)                                                                                                                                                                                  42
    43   7     This line intentionally left blank  .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . .   7   12345678                                       43
    44                                                                                                                                                                                                           44
    45       8 Net operating loss (NOL) carryover adjustment ... ...... ....... ..... ..... ...... ....  8                                                        12345678              Line 5, Schedule M1MB    45
    46                                                                                                                                                                                                           46
    47   9  Foreign derived intangible income (FDII) deduction... ...... ..... ....... ..... ...... .  9                                                          12345678               Line 3, Schedule M1MB   47
    48                                                                                                                                                                                                           48
    49   10  Other additions (see instructions)  . ...... ..... ...... ..... ....... ..... ..... .....   10                                                       12345678              See line 10 instructions 49
    50                                                                                                                                                                                                           50
    51   11  This line intentionally left blank   .. ..... ....... ..... ...... ..... ...... ..... .....   11                                                                                                    51
    52                                                                                                                                                                                                           52
    53   12  This line intentionally left blank   .. ..... ....... ..... ...... ..... ...... ..... .....   12                                                                                                    53
    54                                                                                                                                                                                                           54
    55   13  This line intentionally left blank   .. ..... ....... ..... ...... ..... ...... ..... .....   13                                                                                                    55
    56                                                                                                                                                                                                           56
    57   14  This line intentionally left blank   .. ..... ....... ..... ...... ..... ...... ..... .....   14                                                                                                    57
    58                                                                                                                                                                                                           58
    59   15  This line intentionally left blank   .. ..... ....... ..... ...... ..... ...... ..... .....   15                                                                                                    59
    60                                                                                                                                                                                                           60
    61                                                                                                                                                                                                           61
    62                                                                                                                                                                                     (continued)           62
    63                                                                         9995                                                                                                                              63
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    65                                                                                                                                                                                                           65

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    4                                                                                                                                                                                                                4
       2023 KF, page 2
    5                                                                                                                                                                                                                5
    6                                                                                                                                                                            *237121*                            6
       BENEFICIARY NAMEXXXXXXXXXXXXXXXXXX                                                111223333
    7  Beneficiary’s Name                                                                Beneficiary’s Social Security Number                                                                                        7
    8  Subtractions from income                                                                                                                                                                                      8
    9   16  Interest on U.S. government bond obligations, minus any expenses                                                                                                                                         9
    10      deducted on the federal return that are attributable to this income   .... ....... ..... .   16                                                           12345678  Line 14, Schedule M1M                10
    11                                                                                                                                                                                                               11
    12  17  State income tax refund ... ...... ..... ....... ..... ...... ..... ..... ...... ......   17                                                              12345678            Line 6, Form M1            12
    13                                                                                                                                                                                                               13
    14  18  Federal bonus depreciation subtraction ... ...... ..... ....... ..... ...... ..... ....   18                                                              12345678            Line 10, Schedule M1MB     14
    15                                                                                                                                                                                                               15
    16  19  Subtraction for railroad maintenance expenses ... ...... ..... ....... ..... ...... .... 19                                                               12345678  Line 14, Schedule M1MB               16
    17                                                                                                                                                                                                               17
    18  20  This line intentionally left blank ... ...... ..... ....... ..... ...... ..... ..... ...... . 20                                                          12345678                                       18
    19                                                                                                                                                                                                               19
    20  21  Net operating loss (NOL) carryover adjustment ... ...... ..... ....... ..... ...... ...   21                                                              12345678            Line 13, Schedule M1MB     20
    21                                                                                                                                                                                                               21
    22  22  Deferred foreign income (section 965) . ..... ...... ..... ...... ...... ..... ...... ..   22                                                             12345678  Line 17, Schedule M1MB               22
    23                                                                                                                                                                                                               23
    24  23  Disallowed section 280E expenses of a licensed cannabis business ... ...... ..... .....   23                                                              12345678  Line 16, Schedule M1MB               24
    25                                                                                                                                                                                                               25
    26  24  Delayed business interest ... ...... ..... ....... ..... ...... ..... ..... ...... .....   24                                                             12345678  Line 18, Schedule M1MB               26
    27                                                                                                                                                                                                               27
    28  25  Other subtractions (see instructions)... ...... ..... ....... ..... ...... ..... ..... ..   25                                                            12345678  See line 25 instructions             28
    29                                                                                                                                                                                                               29
    30  26  This line intentionally left blank ... ...... ..... ....... ..... ...... ..... ..... ......   26                                                                                                         30
    31                                                                                                                                                                                                               31
    32  27  This line intentionally left blank ... ...... ..... ....... ..... ...... ..... ..... ......   27                                                                                                         32
    33                                                                                                                                                                                                               33
    34  28  This line intentionally left blank ... ...... ..... ....... ..... ...... ..... ..... ......   28                                                                                                         34
    35                                                                                                                                                                                                               35
    36  29  This line intentionally left blank ... ...... ..... ....... ..... ...... ..... ..... ......   29                                                                                                         36
    37 Credits (you must enclose this schedule with your Form M1 if claiming a credit)                                                                                                     Include on:               37
    38 30   Any Minnesota income tax withholding credit received by the fiduciary ... ...... ..... .   30                                                             12345678             Line 7, Schedule M1W      38
    39                                                                                                                                                                                                               39
    40  31    Credit for increasing research activities  .. ..... ..... ...... ...... ..... ...... ......   31                                                        12345678             Line 16, Schedule M1C     40
    41                                                                                                                                                                                                               41
    42  32   Film Production Tax Credit   ..... ...... ..... ...... ..... ....... ..... ..... ...... .   32                                                           12345678             Line 11,  Schedule M1C    42
    43       Enter the credit certificate number:  TAXC - 12345678                                                                                                                                                   43
    44  33    Tax Credit for Owners of Agricultural Assets  .. ..... ...... ..... ...... ...... ...... .   33                                                         12345678             Line 12, Schedule M1C     44
    45        Enter the certificate number from the certificate                                                                                                                                                      45
    46       you received from the Rural Finance Authority: AO   12 - 123456                                                                                                                                         46
    47  34    Unused credit for owners of agricultural assets from a prior year ... ...... ..... ......   34                                                          12345678             Line 18, Schedule M1C     47
    48       AO 12 - 123456                                                                                                                                                                                          48
    49       Remaining carryover years: 12345678                                                                                                                                                                     49
    50  35  Housing Tax Credit . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . .  .  35   12345678      Line 15, Schedule M1C            50
    51      Enter certificate number from Minnesota Housing: SHTC 1234 - 345678                                                                                                                                      51
    52  36  Short Line Railroad Infrastructure Modernization Credit   .  . . . . .  . . . . . .  . . . . . . .  . . . . .  . .  .  36                                 12345678      Line 14, Schedule M1C            52
    53                                                                                                                                                                                                               53
    54  37  Credit for Sales of Manufactured Home Parks to Cooperatives  . . .  . . . . . .  . . . . .  . . . . . . .  .  .   37                                      12345678      Line 13, Schedule M1C            54
    55                                                                                                                                                                                                               55
    56  38   Credit for historic structure rehabilitation ... ...... ..... ....... ..... ...... ..... ..   38                                                         12345678             Line 6, Schedule M1REF    56
    57        National Park Service (NPS) project number:    12345678                                                                                                                                                57
    58  39   Pass-Through Entity Tax Credit  ... ...... ...... ..... ...... ..... ...... ...... .....   39                                                            12345678             Line 9, Schedule M1REF    58
    59                                                                                                                                                                                                               59
    60  40   Minnesota backup withholding   .... ....... ..... ..... ...... ..... ...... ...... ...   40                                                              12345678             Line 7, Schedule M1W      60
    61                                                                                                                                                                                             (continued)       61
    62                                                                                                                                                                                                               62
    63                                                                        9995                                                                                                                                   63
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    65                                                                                                                                                                                                               65

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    4                                                                                                                                                                                           4
       2023 KF, page 3
    5                                                                                                                                                                                           5
    6                                                                                                                                            *237191*                                       6
       BENEFICIARY NAMEXXXXXXXXXXXXXXXXXX                                                                   111223333
    7  Beneficiary’s Name                                                                                   Beneficiary’s Social Security Number                                                7
    8  Estate, trust, and nonresident individual beneficiaries                                                                                                  Include on Schedule             8
    9  Minnesota portion of amounts from federal Schedule K-1 (1041)                                                                                           M1NR, column B on:               9
    10  41  Capital gain or loss on Minnesota real property  ... ...... ..... ....... ..... ...... ..                      41   12345678                                                 Line 4 10
    11                                                                                                                                                                                          11
    12  42  a  Business income or loss   . . .  . . . . .  . . . . . .  . . . . . a       12345678                                                                                              12
    13     b   Income from Minnesota rents, royalties, part-                                                                                                                                    13
    14         nerships, S corporations, estates and trusts  . .  . b                     12345678                                                                                              14
    15                                                                                                                                                                                          15
    16      c  Farm income or loss   . . .  . . . . . .  . . . . .  . . . . .  . .  .  c  12345678                                                                                              16
    17                                                                                                                                                                                          17
    18      Total (add lines 42a, 42b, and 42c)   .. ..... ..... ...... ...... ..... ....... .... ....                     42   12345678                                                 Line 6 18
    19  43  Interest and dividend income derived from a trade or business                                                                                                                       19
    20      (S corporations and partnerships) that is assignable to Minnesota ... ...... ..... .....                       43   12345678                                                 Line 2 20
    21                                                                                                                                                                                          21
    22  44  Other income  ... ...... ..... ....... ..... ...... ..... ..... ...... ...... ...... .                         44   12345678                                  Line 8                22
    23                                                                                                                                                                                          23
    24  45  Minnesota source gross income from this fiduciary  ... ...... ..... ....... ..... ....    45                        12345678                       information only                 24
    25 Nonresident beneficiaries                                                                                                                                                                25
    26 Composite income tax for electing nonresident beneficiaries                                                                                                                              26
    27  46  Minnesota source distributive income from this fiduciary                      ... ...... ..... ....... .....   46   12345678                       information only                 27
    28  47  Minnesota composite income tax paid by fiduciary.                                                                                                                                   28
    29      If the beneficiary elected composite income tax, check this box                      X       ...... ...... ..  47   12345678                  composite income tax                  29
    30                                                                                                                                                                                          30
    31                                                                                                                                                                                          31
    32                                                                                                                                                                                          32
    33                                                                                                                                                                                          33
    34                                                                                                                                                                                          34
    35                                                                                                                                                                                          35
        Fiduciary: Enclose this schedule and copies of all Schedules KF and federal Schedules K-1 with your Form M2. 
    36 Beneficiary: See instructions. Include this schedule when you file your Form M1.                                                                                                         36
    37                                                                                                                                                                                          37
    38                                                                                                                                                                                          38
    39                                                                                                                                                                                          39
    40                                                                                                                                                                                          40
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    63                                                                                           9995                                                                                           63
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    65                                                                                                                                                                                          65

2023 Schedule KF Instructions
Beneficiary’s use of information provided on Schedule KF

Purpose of Schedule KF
Schedule KF is a supplemental schedule provided by the fiduciary to its beneficiaries. The beneficiaries need this information to complete a 
Form M1, Minnesota Individual Income Tax Return, or Form M2, Income Tax Return for Estates and Trusts.
The schedule shows each beneficiary their specific share of the fiduciary’s income, credits and modifications. An individual beneficiary 
who is a Minnesota resident must report all income from the trust or estate. All other beneficiaries must report income which is allocable to 
Minnesota.
These instructions are intended to help you report your share of the fiduciary’s income, credits and modifications on your Minnesota return.
If you received an amended Schedule KF from the fiduciary and your income or deductions have changed, you must file an amended 
Minnesota return. To amend your return, use Form M1X, Amended Minnesota Income Tax Return, or Form M2X, Amended Income Tax 
Return for Estates and Trusts.

Line Instructions
Include amounts on the appropriate lines as shown on Schedule KF. 
Line 1 – State and Municipal Bond Interest
Individuals: Include on line 1 of Schedule M1M.
Estates and Trusts: Include on line 41 of Form M2.
Line 2 – State Taxes Deducted
Individuals: Include on line 2 of Schedule M1MB.
Estates and Trusts: Include on line 42 of Form M2.
Line 3 – Expenses Deducted Attributed to Income Not Taxed by Minnesota
Individuals: Include on line 3 of Schedule M1M.
Estates and Trusts: Include on line 43 of Form M2.
Line 4 – 80% Suspended Loss of Bonus Depreciation
Individuals: See Schedule M1MB, worksheet for line 4 instructions, to determine how to report this amount.
Estates and Trusts: Include on line 44 of Form M2.
Line 5 – 80% Federal Bonus Depreciation
Individuals: See Schedule M1MB, worksheet for line 1 instructions, to determine how to report this amount.
Estates and Trusts: Include this amount on step 2 for the worksheet to determine Line 45 of the Form M2.
Lines 6a, 6b, and 6c – Accelerated Installment Sale Gains
Nonresident Individuals: If any information is reported to you on line 6 of Schedule KF, file Form M1AR, Accelerated Recognition of 
Installment Sale Gains, with your Minnesota individual income tax return. 
Resident Individuals: If any information is reported to you on line 6 of Schedule KF, retain a copy of this schedule for your records for the 
entire period that you or an entity you have an interest in is receiving installment sale payments. If you become a nonresident in a future year 
while payments are being made, you are required to file Form M1AR, Accelerated Recognition of Installment Sale Gains, with your final 
resident tax return. 
Estates and Trusts: Pass through pro rata to your beneficiaries.
Line 7
This line is intentionally left blank.
Line 8 – Net Operating Loss (NOL) Carryover Adjustment
Individuals: Include on line 5 of Schedule M1MB.
Estates and Trusts: Include on line 48 of Form M2.
Line 9 – Foreign Derived Intangible Income (FDII) Deduction
Individuals: Include on line 3 of Schedule M1MB.
Estates and Trusts: Include on line 49 of Form M2.
Line 10 - Other Additions
Individuals: Include on the appropriate line on Schedule M1M.
Estates and Trusts: Include on line 51 of Form M2.

                                                                                                                    Continued                 1

2023 Schedule KF Instructions (continued)

Lines 11 through 15
These lines are intentionally left blank.
Line 16 – Interest on U.S. Government Bond Obligations 
Individuals: Include on line 14 of Schedule M1M.
Estates and Trusts: Include on line 57 of Form M2.
Line 17 – State Income Tax Refund
Individuals: Include on line 6 of Form M1.
Estates and Trusts: Include on line 58 of Form M2.
Line 18 – Federal Bonus Depreciation Subtraction
Individuals: Include on line 10 of Schedule M1MB.
Estates and Trusts: Include on line 59 of Form M2.
Line 19 – Subtraction for Railroad Maintenance Expenses
Individuals: Include on line 14 of Schedule M1MB.
Estates and Trusts: Include on line 61 of Form M2.
Line 20 
This line is intentionally left blank.
Line 21 – Net Operating Loss (NOL) Carryover Adjustment
Individuals: Include on line 13 of Schedule M1MB.
Estates and Trusts: Include on line 62 of Form M2.
Line 22 – Deferred Foreign Income (Section 965)
Individuals: Include on line 17 of Schedule M1MB.
Estates and Trusts: Include on line 63 of Form M2.
Line 23 – Disallowed Section 280E Expenses of a Licensed Cannabis Business
Individuals: Include on line 16 of Schedule M1MB.
Estates and Trusts: Include on line 64 of Form M2.
Line 24 - Delayed Business Interest
Individuals: Include on line 18 of Schedule M1MB.
Estates and Trusts: Include on line 65 of Form M2.
Line 25 - Other Subtractions
Individuals: Include on the appropriate line on Schedule M1M.
Estates and Trusts: Include on Line 67 of Form M2.
Lines 26 through 29
These lines are intentionally left blank.
Line 30 –Minnesota Income Tax Withholding Credit
Individuals: Include on line 7, column C of Schedule M1W. To claim this credit, you must include this schedule with Form M1.
Estates and Trusts: Include on line 27 of Form M2. To claim this credit, you must include this schedule with Form M2.
Line 31 – Credit for Increasing Research Activities
Individuals: Include on line 16 of Form M1C. To claim this credit, you must include this schedule with Form M1.
Estates and Trusts: Include on line 22 of Form M2. To claim this credit, you must include this schedule with Form M2.
Line 32 - Film Production Tax Credit
Individuals: Include on line 11 of Form M1C and enter the certificate number in the space provided. To claim this credit, you must include 
this schedule with Form M1.
Estates and Trusts: Include on line 16 of Form M2 and enter the certificate number in the space provided. To claim this credit, you must 
include this schedule with Form M2.

                                                                                                                     Continued             2

2023 Schedule KF Instructions (continued)

Line 33 – Tax Credit for Owners of Agricultural Assets
Individuals: Include on line 12 of Form M1C and enter the certificate number in the space provided. To claim this credit, you must include 
this schedule with Form M1.
Estates and Trusts: Include on line 17 of Form M2 and enter the certificate number in the space provided. To claim this credit, you must 
include this schedule with Form M2.
Line 34 - Unused Credit for Owners of Agricultural Assets from a Prior Year
Individuals: Include on line 18 of Form M1C and enter the certificate number in the space provided. The Schedule KF provides the 
remaining years to which the unused credit may be carried forward. This number includes the current tax year. To claim this credit, you must 
include this schedule with Form M1.
Estates and Trusts: Include on line 18 of Form M2 and enter the certificate number in the space provided. The Schedule KF provides the 
remaining years to which the unused credit may be carried forward. This number includes the current tax year. To claim this credit, you must 
include this schedule with Form M2.
Line 35 - Housing Tax Credit
Individuals: Include on line 15 of Form M1C and enter the certificate number in the space provided. To claim this credit, you must include 
this schedule with Form M1.
Estates and Trusts: Include on line 19 of Form M2 and enter the certificate number in the space provided. To claim this credit, you must 
include this schedule with Form M2.
Line 36 - Short Line Railroad Infrastructure Modernization Credit
Individuals: Include on line 14 of Form M1C. To claim this credit, you must include this schedule with Form M1.
Estates and Trusts: Include on line 20 of Form M2. To claim this credit, you must include this schedule with Form M2.
Line 37 - Credit for Sales of Manufactured Home Parks to Cooperatives
Individuals: Include on line 13 of Form M1C. To claim this credit, you must include this schedule with Form M1.
Estates and Trusts: Include on line 21 of Form M2. To claim this credit, you must include this schedule with Form M2.
Line 38 – Credit for Historic Structure Rehabilitation
Individuals: Include on line 6 of Schedule M1REF and enter the NPS project number in the space provided. To claim this credit, you must 
include this schedule with Form M1.
Estates and Trusts: Include on line 29 of Form M2 and enter the NPS project number in the space provided. To claim this credit, you must 
include this schedule with Form M2.
Line 39 - Pass-Through Entity Tax Credit
Individuals: Include on line 9 of Schedule M1REF. To claim this credit, you must include this schedule with Form M1.
Estates and Trusts: Include on line 26 of Form M2. To claim this credit, you must include this schedule with Form M2.
Line 40 – Minnesota Backup Withholding
Individuals: Include on line 7, column C of Schedule M1W. To claim this credit, you must include this schedule with Form M1.
Estates and Trusts: Pass through pro rata to your beneficiaries.
Lines 41 – 44 Minnesota Portion of Federal Amounts
Lines 41-44 apply to estate, trust, and nonresident individual beneficiaries. All income of a Minnesota individual resident beneficiary is 
assigned to Minnesota, regardless of the source.
If certain items are not entirely included in your federal income because of passive activity loss limitation, capital loss limitations, section 
179 limitations or for other reasons, include only the amounts that you included in your federal income.
Individuals: Use the information on lines 41-44 to complete Schedule M1NR.
Estates and Trusts: Use the information on lines 41-44 to complete Schedule M2NM.
Line 45 – Minnesota Source Gross Income
Minnesota source gross income is used to determine if a nonresident individual is required to file a Minnesota individual income tax return. 
Gross income is income before business or rental deductions and does not include losses.
If your 2023 Minnesota source gross income is $13,825 or more and you did not elect composite filing or have your filing requirement 
satisfied through a PTE tax filing, then you are required to file Form M1 and Schedule M1NC, Nonresident/Party-Year Residents.
If your 2023 Minnesota source gross income is less than $13,825 and you had Minnesota tax withheld (see line 30 and line 40 of Schedule 
KF), file Form M1 and Schedule M1NR to receive a refund.

                                                                                                                                                 3

2023 Schedule KF Instructions (continued)

Line 46 – Minnesota Source Distributive Income
Although Minnesota source gross income (line 45 of Schedule KF) determines whether you must file a Minnesota return, your Minnesota 
source distributive income is ultimately taxed.
Lines 46 – 47 were used to determine your share of the fiduciary’s Minnesota source distributive income. You may need to refer to these 
amounts when you file your state’s income tax return.
If you elected for the fiduciary to pay composite tax or have your filing requirement satisfied through a PTE tax filing, then you are not 
required to file Form M1.
Line 47 – Minnesota Composite Income Tax
If you elected composite income tax, the amount paid on your behalf equals 9.85% of your Minnesota taxable income on line 46, minus your 
share of any credits on lines 30, 32 through 38, and 40. You are not required to file Form M1.

Forms and Information
Website: www.revenue.state.mn.us
Phone: 651-556-3075
This information is available in alternate formats.