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2014 Schedule KF instructions

Beneﬁ ciary’s use of information provided on Schedule KF

Purpose of Schedule KF

Lines 23-26. Include lines 23-26 on the cor-

Lines 28 and 29 were used to determine

responding lines in column B of Schedule

your share of the fi duciary’s Minnesota tax-

Schedule KF is a supplemental schedule

M1NR.

able income. You may need to refer to these

provided by the fi duciary to the benefi cia-

amounts when you fi le your home state’s

ries. Th e benefi ciaries need this information

Line 27. Minnesota source gross income is

income tax return.

to complete a Minnesota Individual Income

used to determine if a nonresident individ-

Tax Return, Form M1.

ual is required to fi le a Minnesota income

If you elected for the fi duciary to pay com-

tax return. Gross income is income before

posite tax, you are not required to fi le Form

A benefi ciary who is a Minnesota resident

business or rental deductions and does not

M1.

will be taxed by Minnesota on all of his

include losses.

or her income from the trust or estate. A

Line 28. Th is is your Minnesota source

nonresident benefi ciary will be taxed on the

If your total 2014 Minnesota source gross

distributive income from this fi duciary.

Minnesota income which is assignable to

income is $10,150 or more and you did

Line 29. If you elected, the composite tax

Minnesota.

not elect composite fi ling, you are required

the fi duciary paid on your behalf equals

to fi le Form M1 and Schedule M1NR,

Th ese instructions are intended to help you

9.85 percent of your Minnesota taxable

Nonresidents and Part-Year Residents. You

report your share of the fi duciary’s income,

income on line 29, minus your share of any

must include all Minnesota source gross

credits and modifi cations on your Minne-

credits on lines 18–22. You are not required

income passed through to you from all

sota return.

to fi le Form M1.

fi duciaries, partnerships and S corporations

If you received an amended Schedule

when determining if you are required to fi le

Questions?

KF from the fi duciary and your income or

a Minnesota return.

deductions have changed, you must fi le an

Call the department at 651-556-3075.

If your 2014 Minnesota source gross income

amended Minnesota return. To amend your

Information is available in other formats

is less than $10,150 and you are allowed a

return, use Form M1X, Amended Minnesota

upon request for persons with disabilities.

Minnesota income tax withholding credit,

Income Tax Return.

fi le Form M1 and Schedule M1NR to re-

Need forms?

ceive a refund.

Line instructions

You may download forms and other tax-

Although Minnesota source gross income

related information from our website at

Include amounts on the appropriate lines

determines whether you must fi le a Min-

as shown on Schedule KF. Be sure to read

nesota return, your Minnesota source

the following line instructions for additional

distributive income is ultimately taxed.

information.

Nonresident beneﬁ ciaries

Lines 23—29

Lines 23-29 apply to nonresident benefi -

ciaries. All income of a Minnesota resident

is assigned to Minnesota, regardless of the

source. If certain items are not entirely

included in your federal adjusted gross

income because of passive activity loss

limitations, capital loss limitations, section

179 limitations or for other reasons, include

only the amounts that you included in your

federal adjusted gross income.

2014 Minnesota Income Tax For Estates And Trusts (Fiduciary) Form M2 Instructions - Department Of Revenue Page 15

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