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Minnesota Free Printable 2019 KPI, Partner's Share of Income, Credits and Modifications for 2020 Minnesota Partner's Share of Income, Credits and Modifications

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Partner's Share of Income, Credits and Modifications
2019 KPI, Partner's Share of Income, Credits and Modifications

*197211* 2019 KPI, Partner’s Share of Income, Credits and Modifications Partnership: Complete and provide Schedule KPI to each nonresident individual, estate or trust partner and any Minnesota individual, estate or trust partner who has adjustments to income. For corporate and partnership partners, use Schedule KPC instead. Tax year beginning , 2019 and ending Partner’s Federal ID Number or SSN Number FEIN of Partner Ultimately Taxed (see inst) Amended KPI: Partnership’s Federal ID Number Partner’s Name Partnership’s Name Mailing Address Mailing Address City City Entity of Partner (check one box): State ZIP Code Individual Trust State Estate Partnership’s Minnesota ID ZIP Code Partner’s distributive share: % Calculate lines 1-25 the same for all resident and nonresident partners. Calculate lines 26-42 for nonresident partners only. Round amounts to the nearest whole dollar. Form M1 filers, include on: Individual, Estate and Trust Partners 1 Interest income from non-Minnesota state and municipal bonds . . . . . . . . . . . . . . . . . . . . . . . . 1 M1M, line 1 2 State income tax deducted in arriving at ordinary or net rental income . . . . . . . . . . . . . . . . . . . 2 3 Expenses deducted attributable to income not taxed by Minnesota (other than interest or mutual fund dividends from U.S. bonds) . . . . . . . . . . . . . . . . . . . . . . . . 3 4 If the partnership elected section 179 expensing, enter the partner’s flow-through section 179 expensing for Minnesota purposes . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 M1M, line 5 M1M, line 6 M1M, see line 4 inst 5 100% of partner’s distributive share of federal bonus depreciation . . . . . . . . . . . . . . . . . . . . . . 5 M1M, see line 3 inst 6 Foreign-derived intangible income (FDII) deduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 M1M, line 7 7 Special deduction under section 965 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 See line 7 inst. 8a Partner’s Pro rata gross profit from installment sales of pass-through businesses (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8a 8b Partner’s pro rata installment sale income from pass-through . . . . . . . . . . . . . . . . . . . . . . . . . . . 8b businesses (see instructions) 9 Addition due to federal changes not adopted by Minnesota . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 M1AR, line 1 M1AR, line 3 M1NC, line 3 10 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 11 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 12 Interest from U.S. government bond obligations, minus any expenses deducted on the federal return that are attributable to this income . . . . . . . . . . . . . . . . . . . . . 12 M1M, line 18 13 Deferred foreign income (section 965) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 M1M, line 43 14 Global intangible low-taxed income (GILTI) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 M1M, line 44 9995 Continued next page 2019 KPI, page 2 *197221* Partner’s Name Partner’s Federal ID Number or Social Security Number Partnership’s Name Partnership’s Federal ID Number 15 Disallowed section 280E expenses of medical cannabis manufacturers . . . . . . . . . . . . . . . . . . 15 M1M, line 31 16 Subtraction due to federal changes not adopted by Minnesota . . . . . . . . . . . . . . . . . . . . . . . . 16 M1NC, line 3 17 Credit for increasing research activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 M1C, line 9 18 Tax Credit for Owners of Agricultural Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Enter the certificate number from the certificate received from the Rural Finance Authority: AO___ - ___________ M1C, line 8 19 Credit for historic structure rehabilitation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 M1REF, line 6 20 Employer Transit Pass Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 M1C, line 2 21 Enterprise Zone Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 M1REF, line 7 Enter National Park Service (NPS) number Relating to Alternative Minimum Tax 22 Intangible drilling costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 Use lines 22-25 to compute M1MT, lines 6 and 7. See M1MT instructions for details. 23 Gross income from oil, gas and geothermal properties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 24 Deductions allocable to oil, gas and geothermal properties . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 25 Depletion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 Minnesota Portion of Amounts From Federal Schedule K-1 (1065) 26 Minnesota source gross income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 27 Ordinary Minnesota source income (loss) from trade or business activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 info only (see inst.) M1NR, line 6, col B 28 Income (loss) from Minnesota rental real estate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 M1NR, line 6, col B 29 Other net income (loss) from Minnesota rental activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 M1NR, line 6, col B 30 Guaranteed payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 M1NR, line 6, col B 31 Interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 M1NR, line 2, col B 32 Ordinary dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 M1NR, line 2, col B 33 Royalties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 M1NR, line 6, col B 34 Net Minnesota short-term capital gain (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 M1NR, line 4, col B 35 Net Minnesota long-term capital gain (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 M1NR, line 4, col B 9995 Continued next page 2019 KPI, page 3 *197231* Partner’s Name Partner’s Federal ID Number or Social Security Number Partnership’s Name Partnership’s Federal ID Number 36 Section 1231 Minnesota net gain (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 M1NR, line 4 or 8, col B 37 Other Minnesota income (loss). (Describe type of income or include separate sheet: ) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 M1NR, line 8, col B 38 Section 179 expense deduction apportionable to Minnesota . . . . . . . . . . . . . . . . . . . . . . . . . . 38 M1NR inst, line 6, col B 39 Partnership’s Minnesota apportionment factor (line 5, column C of M3A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 information only Nonresident Individual Partners Only: Composite Income Tax or Nonresident Withholding 40 Minnesota source distributive income (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 If an amount is on line 42 41 Minnesota composite income tax paid by partnership. If the partner elected composite income tax, check this box: M1W, line 7, col. B. . . . . . . . . . . . . . . . . . . . . . . . 41 composite income tax 42 Minnesota income tax withheld for nonresident individual partner not electing to file composite income tax. If the partner completed and signed a Form AWC, check this box: . . . . . . . . . . . . . . . . . . . . . . 42 M1W, line 7, col C Partnership: Include this schedule and copies of federal Schedules K and K-1 with your Form M3. Partner: Include this schedule with your Form M1 (individuals) or Form M2 (estates and trusts). 9995 below, include line 40 on 2019 Schedule KPI Instructions Individual, estate and trust partner’s use of information provided on Schedule KPI Purpose of Schedule KPI Schedule KPI is a supplemental schedule provided by the partnership to its individual, estate or trust partners. The partners will need this information to complete a Minnesota Form M1, Individual Income Tax Return, or Form M2, Income Tax Return for Estates and Trusts. A partner who is a Minnesota resident will be taxed by Minnesota on all of his or her distributive income from the partnership even if the income is apportioned between Minnesota and other states. A nonresident partner will be taxed on the Minnesota distributive income from the partnership. These instructions are intended to help you report your share of the partnership’s income, credits and modifications on your Minnesota return. You must include Schedule KPI when you file your Form M1. If you do not include the schedule with your return as required, the department will disallow any credits and assess the tax or reduce your refund. If you received an amended Schedule KPI from the partnership and your income or deductions have changed, you must file an amended Minnesota return. Individuals: Use Form M1X, Amended Minnesota Income Tax Return, for the year you are amending. Estates and trusts: You must use the current version of Form M2X, Amended Income Tax Return for Estates and Trusts, regardless of the year you are amending. Line Instructions Individuals: Include amounts as shown on Schedule KPI. For additional information, read the appropriate line instructions. Estates and trusts: Include the amounts from: Schedule KPI: on Form M2: line 1 line 25 line 2 line 26 line 3 line 27 line 4 does not apply line 5 line 29 (see inst.) line 6 line 33 line 7 line 34 line 8 does not apply line 9 line 31 line 12 line 38 line 13 line 45 line 14 line 46 line 15 line 47 line 16 line 41 line 17 line 15f line 18 line 15d line 19 line 15c line 20 line 15f line 21 line 15c line 22-25 Form M2MT lines 26-38 see inst. on this page line 39 information lines 40-41 do not apply line 42 line 15b Please see M2 instructions for any amounts refering to line 15d. Line 7 — Special Deduction under Section 965 Individuals: Not applicable. Estates and Trusts: Include on line 34 of Form M2. Line 8a and 8b — Accelerated Installment Sale Gains Nonresident individuals – if any information is reported to you on line 8 of schedule KPI, file form M1AR with your Minnesota income tax return. Continued 1 2019 Schedule KPI Instructions (Continued) Resident individuals – if information is reported to you on line 8, 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 non-resident in a future year while payments are being made you are required to file form M1AR with your final resident tax return. Line 9—Addition Due to Federal Changes Not Adopted by Minnesota Include on line 3 of Schedule M1NC. Enclose a copy of this schedule with Form M1NC. Line 16—Subtraction Due to Federal Changes Not Adopted by Minnesota Include as a negative amount on line 3 of Schedule M1NC. Enclose a copy of this schedule with Form M1NC. Line 17 — Credit for Increasing Research Activities Individuals: Include in the total on line 9 of Schedule M1C. To claim this credit, you must include this schedule with Form M1. Line 18 — Tax Credit for Owners of Agricultural Assets Include on line 8 of Schedule M1C. To claim this credit you must include this schedule with Form M1. Line 19 — Historic Structure Rehabilitation Credit Individuals: Include in the total 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. Line 20 — Employer Transit Pass Credit Individuals: Include in the total on line 2 of Schedule M1C. To claim this credit, you must include this schedule with Form M1. Line 21 — Enterprise Zone Credit Individuals: Include in the total on line 7 of Schedule M1REF. To claim this credit, you must include this schedule with your Form M1. Line 26 — Minnesota Source Gross Income Minnesota source gross income is used to determine if a nonresident individual, estate or trust is required to file a Minnesota income tax return. Gross income is income before business or rental deductions and does not include losses. Nonresident individuals: If your 2019 Minnesota source gross income is $12,200 or more and you did not elect composite filing, you are required to file Form M1 and Schedule M1NR, Nonresidents/Part-Year Residents. If your 2019 Minnesota source gross income is less than $12,200 and you had Minnesota tax withheld (see line 42 of Schedule KPI), file Form M1 and Schedule M1NR to receive a refund. Estates and trusts: You are required to file Form M2 and pay tax if the Minnesota gross income is $600 or more. Lines 27 – 38 Lines 27-38 apply to nonresident partners. 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 (if an individual) or federal taxable income (if an estate or trust) 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 (individuals) or federal taxable income (estates or trusts). Nonresident individuals: Include lines 27-38 on the corresponding lines in column B of Schedule M1NR. Estates and trusts: Lines 27-38 are used to determine the partnership’s Minnesota sourced income and non-Minnesota sourced income to include on lines 2 and 7 of Form M2. To determine the non-Minnesota losses and income, subtract the amounts on lines 27-38 from the corresponding amounts on Schedule K-1. Lines 40–42 Nonresident individuals: Although Minnesota source gross income (line 26) determines whether you must file a Minnesota return, your Minnesota source distributive income is ultimately taxed. Lines 40-42 were used to determine your share of the partnership’s Minnesota source distributive income. You may need to refer to these amounts when you file your home state’s income tax return. If you are required to pay Minnesota tax on your Minnesota source distributive income, the partnership is required to withhold tax, unless you elect to have the partnership pay composite tax to Minnesota on your behalf. If you elected for the partnership to pay composite tax, you are not required to file Form M1. Line 40. Your Minnesota source distributive income is considered your Minnesota taxable income from this partnership. Line 41. If you elected, the composite tax paid on your behalf equals 9.85 percent of your Minnesota taxable income (line 40), minus your share of any credits on lines 18-21. You are not required to file an individual Minnesota return (Form M1). Continued 2 2019 Schedule KPI Instructions (Continued) Line 42. If you did not elect composite income tax, the partnership may be required to withhold tax from your Minnesota source distributive income. The amount withheld equals 9.85 percent of your Minnesota taxable income (line 40), minus your share of any credits on lines 1821. To claim nonresident withholding when you file your Form M1, you must enclose this schedule showing Minnesota tax was withheld. Sale of a Partnership Interest If you sell any portion of your interest in a partnership, some or all of the gain may be taxable. Or you can use any loss on the sale to offset other Minnesota income to the extent the losses are deducted on your federal return. To determine the ratio of gain or loss that is assigned to Minnesota at the time of the sale, divide the original cost of the partnership’s tangible property in Minnesota by the original cost of all tangible property of the partnership. (Tangible property includes real estate, inventory and equipment.) If you don’t have these numbers, contact the partnership. If more than 50 percent of the value of the partnership’s assets are intangibles, the gain/loss is allocated to Minnesota using the partnership’s prior year sales factor. Include the result on Schedule M1NR, line 4, column B. 3
Extracted from PDF file 2019-minnesota-form-kpi.pdf, last modified October 2017

More about the Minnesota Form KPI Corporate Income Tax Tax Credit TY 2019

We last updated the Partner's Share of Income, Credits and Modifications in February 2020, so this is the latest version of Form KPI, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form KPI directly from TaxFormFinder. You can print other Minnesota tax forms here.

Related Minnesota Corporate Income Tax Forms:

TaxFormFinder has an additional 95 Minnesota income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Minnesota Form KPI.

Form Code Form Name
Form KPI-2019 Partner's Share of Income, Credits and Modifications

Download all MN tax forms View all 96 Minnesota Income Tax Forms


Form Sources:

Minnesota usually releases forms for the current tax year between January and April. We last updated Minnesota Form KPI from the Department of Revenue in February 2020.

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Form KPI is a Minnesota Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Minnesota Form KPI

We have a total of nine past-year versions of Form KPI in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 Form KPI

2019 KPI, Partner's Share of Income, Credits and Modifications

2018 Form KPI

2017 KPI, Partner's Share of Income, Credits and Modifications

2017 Form KPI

2017 KPI, Partner's Share of Income, Credits and Modifications

2016 Form KPI

2016 KPI, Partner's Share of Income, Credits and Modifications

2015 Form KPI

2011 KPI, Partner's Share of Income, Credits and Modifications

Partner's Share of Income, Credits and Modifications 2014 Form KPI

2011 KPI, Partner's Share of Income, Credits and Modifications

2013 Partner's Share of Income, Credits and Modifications 2013 Form KPI

2011 KPI, Partner's Share of Income, Credits and Modifications

2012 Form KPI

2011 KPI, Partner's Share of Income, Credits and Modifications

2011 Form KPI

2011 KPI, Partner's Share of Income, Credits and Modifications


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