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Minnesota Federal Adjustments (Partnership)
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Extracted from PDF file 2025-minnesota-form-kpinc.pdf, last modified November 2020Federal Adjustments (Partnership)
*257241* 2025 Schedule KPINC, Federal Adjustments Minnesota has not adopted the federal law changes enacted after May 1, 2023 that affect federal taxable income for tax year 2025. Tax year beginning , ending Partner’s Name Partner’s Social Security Number or Federal ID Number Partnership’s Name Partnership’s Minnesota ID Number Partnership’s Federal ID Number Enter amounts as a positive or negative. Round amounts to nearest whole dollar. Adjustments to federal taxable income (FTI) Form M1 filers, include on: 1 Expansion of FICA Tip Credit (H.R. 1 Sec. 70201) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 M1NC, Line 8 2 a Full Expensing for Bonus Depreciation Property (H.R. 1 Sec. 70301) . . . . . . . . . . . . . . . . . . . . . 2a M1NC, Line 9a b Enter the amount of allowable depreciation for assets on line 2a . . . . . . . . . . . . . . . . . . . . . . . 2b M1NC, Line 9b c Enter the amount of allowable depreciation for prior year assets adjusted for Sec. 70301 . . . 2c M1NC, Line 9c 3 a Full Expensing for Domestic Research and Experimental Expenditures (H.R. 1 Sec. 70302) . . . 3a M1NC, Line 10a b Enter the amount of allowable depreciation for assets on line 3a . . . . . . . . . . . . . . . . . . . . . . . . 3b M1NC, Line 10b M1NC, Line 10c c Enter the amount of allowable depreciation for prior year assets adjusted for Sec. 70302 . . . . 3c 4 Modification of Limitation on Business Interest (H.R. 1 Sec. 70303) . . . . . . . . . . . . . . . . . . . . . . . . . . 4 M1NC, Line 11 5 Limitation on Deduction for Business Meals (H.R. 1 Sec. 70305) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 M1NC, Line 12 6 a Limitation for Expensing of Certain Depreciation Property (H.R. 1 Sec. 70306) . . . . . . . . . . . . . 6a M1NC, Line 13a b Enter the amount of allowable depreciation for assets on line 6a. . . . . . . . . . . . . . . . . . . . . . . . 6b M1NC, Line 13b c Enter the amount of allowable depreciation for prior year assets adjusted for Sec. 70306 . . . . 6c M1NC, Line 13c 7 a Special Depreciation Allowance for Qualified Production Property (H.R. 1 Sec. 70307) . . . . . 7a M1NC, Line 14a b Enter the amount of allowable depreciation for assets on line 7a . . . . . . . . . . . . . . . . . . . . . . . . 7b M1NC, Line 14b c Enter the amount of allowable depreciation for prior year assets adjusted for Sec. 70307 . . . . 7c M1NC, Line 14c 8 Enhancement of Advanced Manufacturing Investment Credit (H.R. 1 Sec. 70308) . . . . . . . . . . . . . 8 M1NC, Line 15 9 Exempt Facility Bond Rules for Spaceports (H.R. 1 Sec. 70309) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 M1NC, Line 16 10 Subpart F Provisions (H.R. 1 Sec. 70352 and 70354) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 M1NC, Line 17 11 Enhancement of Employer-Provided Child Care Credit (H.R. 1 Sec. 70401) . . . . . . . . . . . . . . . . . . . 11 M1NC, Line 18 12 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 13 Exception to Percentage of Completion Method of Accounting (H.R. 1 Sec. 70430) . . . . . . . . . . . . 13 M1NC, Line 20 9995 continued next page 2025 KPINC, page 2 *257251* Partner’s Name Partner’s Social Security Number or Federal ID Number Partnership’s Name Partnership’s Minnesota ID Number Partnership’s Federal ID Number 14 Expansion of Qualified Small Business Stock Gain Exclusion (H.R. 1 Sec. 70431) . . . . . . . . . . . . . . . 14 M1NC, Line 21 15 a Treatment of Certain Sound Recording Productions (H.R. 1 Sec. 70434) . . . . . . . . . . . . . . . . . . 15a M1NC, Line 22a b Enter the amount of allowable depreciation for assets on line 15a . . . . . . . . . . . . . . . . . . . . . . 15b M1NC, Line 22b c Enter the amount of allowable depreciation for prior year assets adjusted for Sec. 70434 . . . 15c M1NC, Line 22c 16 Exclusion of Interest on Loans Secured by Rural or Agricultural Real Property (H.R. 1 Sec. 70435) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 M1NC, Line 23 17 a Termination of Energy Efficient Commercial Buildings Deduction (H.R. 1 Sec. 70507) . . . . . . . 17a M1NC, Line 24a b Reverse federally claimed depreciation for assets on line 17a . . . . . . . . . . . . . . . . . . . . . . . . . . 17b M1NC, Line 24b 18 a Termination of Cost Recovery for Energy Property (H.R. 1 Sec. 70509) . . . . . . . . . . . . . . . . . . . 18a M1NC, Line 25a b Reverse federally claimed depreciation for assets on line 18a . . . . . . . . . . . . . . . . . . . . . . . . . . 18b M1NC, Line 25b c Enter the amount of allowable depreciation for prior year assets adjusted for Sec. 70509 . . . 18c M1NC, Line 25c 19 Employee Retention Credit Enforcement Provisions (H.R. 1 Sec. 70605) . . . . . . . . . . . . . . . . . . . . . 19 M1NC, Line 26 20 Minnesota-Only Bonus Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 M1NC, line 27 21 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 22 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 23 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 24 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 25 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 26 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 27 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 28 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 29 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 30 Other adjustments to federal taxable income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 31 Total lines 1-30. If the result is a positive, enter it on Schedule KPI, line 6. If the amount is a negative, enter it as a positive number on Schedule KPI, line 19.. . . . . . . . . . . 31 You must include this schedule when you file Schedule KPI. 9995 M1NC, Line 36 2025 Schedule KPINC Instructions Individual, estate, and trust partner’s use of information provided on Schedule KPINC Purpose of Schedule KPINC Schedule KPINC is a supplemental schedule provided by the partnership to its individual, estate, or trust partners. The partners need this information to complete one of the following: • Minnesota Schedule M1NC if you are an individual partner. • Minnesota Schedule M2NC if you are a trust or estate partner. These instructions are intended to help you report your share of the partnership’s nonconformity adjustments on your Minnesota return. You must include Schedule KPINC when you file your Minnesota return. If you do not include the schedule with your return as required, your return processing will be delayed. If you receive an amended Schedule KPINC from the partnership and your nonconformity adjustments have changed, you must file an amended Minnesota return. To amend your return, use one of the following: • Form M1X, Amended Minnesota Income Tax Return, if you are an individual partner. • Form M2X, Amended Income Tax Return for Estate and Trust, if you are a trust or estate partner. Line Instructions Line 1 – Expansion of FICA Tip Credit (H.R. 1 Sec. 70201) Individuals: Include this amount on Schedule M1NC, line 8. Trusts and Estates: Include this amount on Schedule M2NC, line 1. Line 2a - Full Expensing for Bonus Depreciation Property (H.R. 1 Sec. 70301) Individuals: Include this amount on Schedule M1NC, line 9a. Trusts and Estates: Include this amount on Schedule M2NC, line 2a. Line 2b - Enter the amount of allowable depreciation for assets on line 2a Individuals: Include this amount on Schedule M1NC, line 9b. Trusts and Estates: Include this amount on Schedule M2NC, line 2b. Line 2c - Enter the amount of allowable depreciation for prior year assets adjusted for Sec. 70301 Individuals: Include this amount on Schedule M1NC, line 9c. Trusts and Estates: Include this amount on Schedule M2NC, line 2c. Line 3a – Full Expensing for Domestic Research and Experimental Expenditures (H.R. 1 Sec. 70302) Individuals: Include this amount on Schedule M1NC, line 10a. Trusts and Estates: Include this amount on Schedule M2NC, line 3a. Line 3b – Enter the amount of allowable depreciation for assets on line 3a Individuals: Include this amount on Schedule M1NC, line 10b. Trusts and Estates: Include this amount on Schedule M2NC, line 3b. Line 3c – Enter the amount of allowable depreciation for prior year assets adjusted for Sec. 70302 Individuals: Include this amount on Schedule M1NC, line 10c. Trusts and Estates: Include this amount on Schedule M2NC, line 3c. Line 4 – Modification of Limitation on Business Interest (H.R. 1 Sec. 70303) Individuals: Include this amount on Schedule M1NC, line 11. Trusts and Estates: Include this amount on Schedule M2NC, line 4. Line 5 – Limitation on Deduction for Business Meals (H.R. 1 Sec. 70305) Individuals: Include this amount on Schedule M1NC, line 12. Trusts and Estates: Include this amount on Schedule M2NC, line 5. Line 6a – Limitation for Expensing of Certain Depreciation Property (H.R. 1 Sec. 70306) Individuals: Include this amount on Schedule M1NC, line 13a. Trusts and Estates: Include this amount on Schedule M2NC, line 6a. Continued 1 2025 Schedule KPINC Instructions (continued) Line 6b – Enter the amount of allowable depreciation for assets on line 6a Individuals: Include this amount on Schedule M1NC, line 13b. Trusts and Estates: Include this amount on Schedule M2NC, line 6b. Line 6c – Enter the amount of allowable depreciation for prior year assets adjusted for Sec. 70306 Individuals: Include this amount on Schedule M1NC, line 13c. Trusts and Estates: Include this amount on Schedule M2NC, line 6c. Line 7a – Special Depreciation Allowance for Qualified Production Property (H.R. 1 Sec. 70307) Individuals: Include this amount on Schedule M1NC, line 14a. Trusts and Estates: Include this amount on Schedule M2NC, line 7a. Line 7b – Enter the amount of allowable depreciation for assets on line 7a Individuals: Include this amount on Schedule M1NC, line 14b. Trusts and Estates: Include this amount on Schedule M2NC, line 7b. Line 7c – Enter the amount of allowable depreciation for prior year assets adjusted for Sec. 70307 Individuals: Include this amount on Schedule M1NC, line 14c. Trusts and Estates: Include this amount on Schedule M2NC, line 7c. Line 8 – Enhancement of Advanced Manufacturing Investment Credit (H.R. 1 Sec. 70308) Individuals: Include this amount on Schedule M1NC, line 15. Trusts and Estates: Include this amount on Schedule M2NC, line 8. Line 9 – Exempt Facility Bond Rules for Spaceports (H.R. 1 Sec. 70309) Individuals: Include this amount on Schedule M1NC, line 16. Trusts and Estates: Include this amount on Schedule M2NC, line 9. Line 10 – Subpart F Provisions (H.R. 1 Sec. 70352 and 70354) Individuals: Include this amount on Schedule M1NC, line 17. Trusts and Estates: Include this amount on Schedule M2NC, line 10. Line 11 – Enhancement of Employer-Provided Child Care Credit (H.R. 1 Sec. 70401) Individuals: Include this amount on Schedule M1NC, line 18. Trusts and Estates: Include this amount on Schedule M2NC, line 11. Line 12 This line is intentionally left blank. Line 13 – Exception to Percentage of Completion Method of Accounting (H.R. 1 Sec. 70430) Individuals: Include this amount on Schedule M1NC, line 20. Trusts and Estates: Include this amount on Schedule M2NC, line 13. Line 14 – Expansion of Qualified Small Business Stock Gain Exclusion (H.R. 1 Sec. 70431) Individuals: Include this amount on Schedule M1NC, line 21. Trusts and Estates: Include this amount on Schedule M2NC, line 14. Line 15a – Treatment of Certain Sound Recording Productions (H.R. 1 Sec. 70434) Individuals: Include this amount on Schedule M1NC, line 22a. Trusts and Estates: Include this amount on Schedule M2NC, line 15a. Line 15b – Enter the amount of allowable depreciation for assets on line 15a Individuals: Include this amount on Schedule M1NC, line 22b. Trusts and Estates: Include this amount on Schedule M2NC, line 15b. Line 15c – Enter the amount of allowable depreciation for prior year assets adjusted for Sec. 70434 Individuals: Include this amount on Schedule M1NC, line 22c. Trusts and Estates: Include this amount on Schedule M2NC, line 15c. Continued 2 2025 Schedule KPINC Instructions (continued) Line 16 – Exclusion of Interest on Loans Secured by Rural or Agricultural Real Property (H.R. 1 Sec. 70435) Individuals: Include this amount on Schedule M1NC, line 23 Trusts and Estates: Include this amount on Schedule M2NC, line 16. Line 17a – Termination of Energy Efficient Commercial Buildings Deduction (H.R. 1 Sec. 70507) Individuals: Include this amount on Schedule M1NC, line 24a Trusts and Estates: Include this amount on Schedule M2NC, line 17a. Line 17b – Reverse federally claimed depreciation for assets on line 17a Individuals: Include this amount on Schedule M1NC, line 24b Trusts and Estates: Include this amount on Schedule M2NC, line 17b. Line 18a – Termination of Cost Recovery for Energy Property (H.R. 1 Sec. 70509) Individuals: Include this amount on Schedule M1NC, line 25a Trusts and Estates: Include this amount on Schedule M2NC, line 18a. Line 18b – Reverse federally claimed depreciation for assets on line 18a Individuals: Include this amount on Schedule M1NC, line 25b Trusts and Estates: Include this amount on Schedule M2NC, line 18b. Line 18c – Enter the amount of allowable depreciation for prior year assets adjusted for Sec. 70509 Individuals: Include this amount on Schedule M1NC, line 25c Trusts and Estates: Include this amount on Schedule M2NC, line 18c. Line 19 – Employee Retention Credit Enforcement Provisions (H.R. 1 Sec. 70605) Individuals: Include this amount on Schedule M1NC, line 26. Trusts and Estates: Include this amount on Schedule M2NC, line 19. Line 20 – Minnesota-Only Bonus Depreciation Individuals: Include this amount on Schedule M1NC, line 27. Trusts and Estates: Include this amount on Schedule M2NC, line 20. Lines 21 through 29 These lines are intentionally left blank. Line 30 - Other Adjustments to Federal Taxable Income Individuals: Include this amount on Schedule M1NC, line 36. Trusts and Estates: Include this amount on Schedule M2NC, line 30. Line 31 – Total If the total on this line is a positive number, enter it on Schedule KPI, line 6. If the total on this line is a negative, enter it as a positive number on Schedule KPI, line 19. 3
2025 KPINC, Federal Adjustments
More about the Minnesota Form KPINC Corporate Income Tax TY 2025
Minnesota has not adopted certain federal law changes enacted after December 31, 2018 that affect federal taxable income. This schedule allows for any necessary adjustments required to file a state tax return.
We last updated the Federal Adjustments (Partnership) in February 2026, so this is the latest version of Form KPINC, fully updated for tax year 2025. You can download or print current or past-year PDFs of Form KPINC directly from TaxFormFinder. You can print other Minnesota tax forms here.
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Form Sources:
Minnesota usually releases forms for the current tax year between January and April. We last updated Minnesota Form KPINC from the Department of Revenue in February 2026.
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 KPINC
We have a total of three past-year versions of Form KPINC in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2025 Form KPINC
2025 KPINC, Federal Adjustments
2022 Form KPINC
2022 KPINC, Federal Adjustments
2021 Form KPINC
2021 KPINC, Federal Adjustments
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