Minnesota Federal Adjustments (S Corporation)

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Federal Adjustments (S Corporation)
2022 KSNC, Federal Adjustments*227441*

2022 Schedule KSNC, Federal Adjustments

Minnesota has generally adopted the Internal Revenue Code as amended through December 15, 2022.
This schedule allows for any remaining necessary adjustments required to file a state tax return.
Read the instructions before completing this schedule.
Tax year beginning

, 2022, ending

Shareholder’s Name		
S Corporation’s Name	

Shareholder’s Social Security Number

S Corporation’s Federal ID Number	

S Corporation’s Minnesota ID Number
Enter as a positive or negative. Round
amounts to the nearest whole dollar.

Adjustments to federal taxable income (FTI)

Form M1 filers,
include on:

	1	 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1	
2	 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2	
	3	 This line intentionally left blank  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3	
4	 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4	
	5	 Modification for business interest limitation (CARES Act Sec. 2306) . . . . . . . . . . . . . . . . . . . . . . . . . . 5	

M1NC, Line 16

	6	 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6	
	7	 Employer credit for paid medical leave and Employer payroll credit for
required paid family leave (FFCRA Sec. 7001, 7003)  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7	

M1NC, Line 18

	8	 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8	
	9	 This line intentionally left blank
		 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9	
	10	 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10	
	11	 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  11	
	12	 This line intentionally left blank  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  12	
	13	 Temporary allowance of full deduction for business meals (COVIDTRA Sec. 210) . . . . . . . . . . . . .  13	

M1NC, Line 25

	14	 This line intentionally left blank
		 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  14	
	15	 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  15	

	 16	 This line intentionally left blank  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  16	
	17 	 Credit for COBRA Continuation Coverage (ARPA Sec. 9501) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  17	

M1NC, Line 27

	18	 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  18	
	19	 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  19	

9995

Continued

2022 KSNC, page 2
*227451*
Shareholder’s Name		
S Corporation’s Name	

Shareholder’s Social Security Number

S Corporation’s Federal ID Number	

	20 	 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  20	
	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	 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  30	
	31	 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31	
	32	 Total lines 1-31. If the result is positive, enter it on Schedule KS, line 8.
If the amount is negative, enter it as a positive number on Schedule KS, line 18. . . . . . . . . . . . . .  32	

You must include this schedule when you file Schedule KS.

9995

S Corporation’s Minnesota ID Number

2022 Schedule KSNC Instructions
Shareholder’s use of information provided on Schedule KSNC

Purpose of Schedule KSNC

Schedule KSNC is a supplemental schedule provided by the S corporation to its shareholders. The shareholders need this information to
complete one of the following:
• Minnesota Schedule M1NC if you are an individual shareholder.
• Minnesota Schedule M2NC if you are a trust or estate shareholder.
• Minnesota Schedule M2SBNC if you are an electing small business trust shareholder.
These instructions are intended to help you report your share of the S corporation’s nonconformity adjustments on your Minnesota return.
You must include Schedule KSNC 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 KSNC from the S corporation 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 shareholder.
• Form M2X, Amended Income Tax Return for Estate and Trust, if you are a trust or estate shareholder.

Line Instructions
Line 1

This line is intentionally left blank.

Line 2

This line is intentionally left blank.

Line 3

This line is intentionally left blank.

Line 4

This line is intentionally left blank.

Line 5 – Modification of Business Interest Limitation (CARES Act Sec. 2306)
Individuals: Include this amount on Schedule M1NC, line 16.
Trusts and Estates: Include this amount on Schedule M2NC, line 5.
Electing Small Business Trust: Include this amount on Schedule M2SBNC, line 5.

Line 6

This line is intentionally left blank.

Line 7 – Employer Credit for Paid Medical Leave and Employer Payroll Credit for Required Paid Family Leave (FFCRA Sec.
7001, 7003; ARPA Sec. 9641)
Individuals: Include this amount on Schedule M1NC, line 18.
Trusts and Estates: Include this amount on Schedule M2NC, line 7.
Electing Small Business Trust: Include this amount on Schedule M2SBNC, line 7.

Line 8

This line is intentionally left blank.

Line 9

This line is intentionally left blank.

Line 10

This line is intentionally left blank.

Line 11

This line is intentionally left blank.

Line 12

This line is intentionally left blank.

Continued

1

2022 Schedule KSNC Instructions (continued)
Line 13 - Temporary Allowance of Full Deduction for Business Meals (TCDTR20 Sec. 210)
Individuals: Include this amount on Schedule M1NC, line 25.
Trusts and Estates: Include this amount on Schedule M2NC, line 13.
Electing Small Business Trust: Include this amount on Schedule M2SBNC, line 13.

Line 14

This line is intentionally left blank.

Line 15

This line is intentionally left blank.

Line 16

This line is intentionally left blank.

Line 17 – Credit for COBRA Continuation Coverage (ARPA Sec. 9501)

Individuals: Include this amount on Schedule M1NC, line 27.
Trusts and Estates: Include this amount on Schedule M2NC, line 17.
Electing Small Business Trust: Include this amount on Schedule M2SBNC, line 17.

Lines 18 Through 30

These lines are intentionally left blank.

Line 31

This line is intentionally left blank.

Line 32 – Total

If the total on this line is a positive number, enter it on Schedule KS, line 8. If the total on this line is a negative, enter it as a positive number
on Schedule KS, line 18.

2

Extracted from PDF file 2022-minnesota-form-ksnc.pdf, last modified October 2020

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More about the Minnesota Form KSNC Corporate Income Tax

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 (S Corporation) in March 2023, and the latest form we have available is for tax year 2022. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the Minnesota Department of Revenue. You can print other Minnesota tax forms here.

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Other Minnesota Corporate Income Tax Forms:

TaxFormFinder has an additional 95 Minnesota income tax forms that you may need, plus all federal income tax forms.

Form Code	Form Name
Form M8	S Corporation Return (M8 and M8A) Tax Return
Form M4NP	Unrelated Business Income Tax (UBIT) Return Tax Return
Form KS	Shareholder's Share of Income, Credits and Modifications Tax Credit
Form KF	Beneficiary's Share of Minnesota Taxable Income
Form M4NP Instructions	Unrelated Business Income Tax (UBIT) Return Instructions

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 KSNC from the Department of Revenue in March 2023.

Show Sources >

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 KSNC

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

2022 Form KSNC

2022 KSNC, Federal Adjustments

2021 Form KSNC

2021 KSNC, Federal Adjustments

TaxFormFinder Disclaimer:

While we do our best to keep our list of Minnesota Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.