M2XP2
Adjustments to Income
A—As previously reported
B—Net change
C—Corrected amount
32 State and municipal bond interest from outside Minnesota . . . . 32
33 State income tax deducted on federal return . . . . . . . . . . . . . . . . 33
34 Expenses deducted on your federal return that are attributable
to income not taxed by Minnesota(other than U .S . bond interest) . . 34
35 80 percent of suspended loss from 2001-2005 or 2008-2011
on federal return generated by bonus depreciation . . . . . . . . . . . 35
36 80 percent of federal bonus depreciation . . . . . . . . . . . . . . . . . . . 36
37 Fines, fees and penalties deducted federally as
trade or business expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37
38 Net operating loss carryover adjustment . . . . . . . . . . . . . . . . . . . . 38
39 Domestic production activities deduction . . . . . . . . . . . . . . . . . . . 39
40 Federal tax-exempt subsidies paid to employers for providing
prescription drug coverage for their retirees . . . . . . . . . . . . . . . . . 40
41 Add lines 32 through 40. Also enter the amount from
line 41C on line 51, column E, under Additions . . . . . . . . . . . . . . . 41
42 Interest on U.S. government bond obligations, minus expenses
deducted on federal return that are attributable to this income . . . 42
43 State income tax refund included on federal return . . . . . . . . . . . 43
44 Federal bonus depreciation subtraction . . . . . . . . . . . . . . . . . . . . 44
45 Job Opportunity Building Zone (JOBZ) business
and investment income exemptions . . . . . . . . . . . . . . . . . . . . . . . . 45
46 Subtraction for prior addback of reacquisition of business
indebtedness income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46
47 Net operating loss carryover adjustment . . . . . . . . . . . . . . . . . . . . 47
48 Add lines 42 through 47. Also enter the amount from
line 48C on line 51, column E, under Subtractions . . . . . . . . . . . . 48
Allocation of adjustments between fiduciary and beneficiaries
A
B
C
D
E
Percent of
Shares assignable to beneficiary and to fiduciary
Beneficiary’s Social
Share of federal
total on line
Name of each beneficiary
Security number
distributable net income
51, column C
Additions
Subtractions
49
%
%
%
%
50 Fiduciary
%
51 Total
100%
Enclose separate sheet, if needed .
EXPLANATION OF CHANGE—Explain each change in detail in the space provided below. Use a separate sheet, if needed. If
the changes involve items requiring supporting information, be sure to attach the appropriate schedule, statement or form to
Form M2X to verify the correct amount.