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Minnesota Free Printable 2020 Schedule M1C, Other Nonrefundable Credits for 2021 Minnesota Other Nonrefundable Credits (onscreen version)

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Other Nonrefundable Credits (onscreen version)
2020 Schedule M1C, Other Nonrefundable Credits

*201661* 2020 Schedule M1C, Nonrefundable Credits Complete this schedule to determine line 16 of Form M1. Include this schedule when filing your return. Your First Name and Initial Your Last Name Your Social Security Number 1 Marriage Credit for joint return when both spouses have taxable earned income or taxable retirement income (enclose Schedule M1MA) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 Credit for long-term care insurance premiums paid (enclose Schedule M1LTI) . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Credit for taxes paid to another state (enclose Schedule(s) M1CR and M1RCR) . . . . . . . . . . . . . . . . . . . . . . . 3 4 Credit for Past Military Service (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Employer Transit Pass Credit (enclose Schedule ETP) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 6 SEED Capital Investment Credit (see instructions; enclose certification) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 7 Education Savings Account Contribution Credit (enclose Schedule M1529) . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 8 Credit for Attaining Master’s Degree in Teacher’s Licensure Field (enclose Schedule M1CMD) . . . . . . . . . . . . 8 9 Student Loan Credit (enclose Schedule M1SLC) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 10 Beginning Farmer Management Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Enter the certificate number from the certificate you received from the Rural Finance Authority: BF 20 11 Tax Credit for Owners of Agricultural Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Enter the certificate number from the certificate you received from the Rural Finance Authority: AO 2 0 AO 2 0 AO 2 0 12 Credit for increasing research activities (enclose Schedule KPI, KS, or KF) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 13 Carryforward of prior year Beginning Farmer Management Credits (see instructions) . . . . . . . . . . . . . . . . . . 13 BF BF 14 Carryforward of prior year Owners of Agricultural Assets Credits (see instructions) . . . . . . . . . . . . . . . . . . . 14 AO AO 15 Carryforward of prior year Credit for Increasing Research Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 List the years the credits were reported to you on Schedule KPI, KS, or KF: 16 Alternative Minimum Tax Credit (enclose Schedule M1MTC) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 17 Add lines 1 through 16. Enter total here and on line 16 of Form M1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 You must include this schedule with your Form M1. 9995 2020 Schedule M1C Instructions Should I file this schedule? Complete Schedule M1C if any of the following apply to you (or your spouse if filing a joint return): • You are filing a joint return and have taxable earned income, pension, or Social Security income • You paid premiums on a qualified long-term care insurance policy • You were a Minnesota resident for all or part of 2020 and paid income tax to both Minnesota and another state on the same income • You qualify for the Credit for Past Military Service (see the instructions for line 4 on this schedule) • You purchased transit passes to resell or give to your employees • You paid Minnesota alternative minimum tax in prior years and are not required to pay it in 2020 • You invested in a qualified business in East Grand Forks, Breckenridge, Dilworth, Moorhead, or Ortonville, and the business has been certified as qualified for the SEED Capital Investment Program • You contributed to a qualified education savings account in 2020 and did not claim the Education Savings Account Subtraction • You were a licensed teacher who completed a qualifying master’s degree program you began after June 30, 2017 • You were a full-year or part-year resident and made eligible loan payments on your own qualified student loans • You received a credit certificate from the Minnesota Rural Finance Authority Report the total of all credits from Schedule M1C on line 16 of Form M1. Include any schedules you completed when filing your return. Line Instructions Round amounts to the nearest whole dollar. Line 1 — Marriage Credit (Schedule M1MA) To qualify for the Marriage Credit, all of the following must apply: • You are filing a joint return • Both you and your spouse have taxable earned income, taxable pension, or taxable Social Security income • Your joint taxable income on line 9 of your Form M1 is at least $40,000 • The earned income of the lesser-earning spouse is at least $25,000 If you qualify, complete Schedule M1MA, Marriage Credit, to determine your credit. Line 2—Credit for Long-Term Care Insurance Premiums (Schedule M1LTI) You may be able to claim a credit against tax based on premiums you paid in 2020 for a qualified long-term care insurance policy for which you did not receive a full deduction on Schedule M1SA, Minnesota Itemized Deductions. To qualify, your long-term care insurance policy must do both of the following: • Qualify as a deduction (see Schedule M1SA), disregarding the income test • Have a lifetime long-term care benefit limit of $100,000 or more The maximum credit is $100 per person. If you qualify, complete Schedule M1LTI, Long-Term Care Insurance Credit. Line 3—Credit for Taxes Paid to Another State (Schedule M1CR and Schedule M1RCR) If you were a Minnesota resident for all or part of 2020 and you paid income tax to both Minnesota and another state on the same income, you may be able to reduce your tax. A Canadian province or territory and the District of Columbia are considered states for purposes of this credit. If you were a resident of another state, but are required to file a 2020 Minnesota income tax return as a Minnesota resident, you may be eligible for this credit. To be eligible, you must have paid 2020 state tax on the same income to both Minnesota and your state of residence. You must get a statement from the other state’s tax department stating ineligibility to receive a credit on that state’s return for income tax paid to Minnesota. Include this statement with your Form M1. If you claimed a federal foreign tax credit and you included taxes paid to a Canadian province or territory, you cannot use these same taxes paid to determine your Minnesota credit. If you qualify, complete Schedule M1CR, Credit for Income Tax Paid to Another State, and include the schedule with Form M1. If you paid income tax to Wisconsin: A portion of your credit may be refundable. Complete Schedule M1RCR, Credit for Tax Paid to Wisconsin, and include the schedule with Form M1. Line 4 — Credit for Past Military Service You qualify for a credit if you (or your spouse if filing a joint return) have separated from service, your adjusted gross income is less than $37,500, you did not claim a subtraction for military pension or other military retirement pay on line 32 of Schedule M1M, and one of the following is true: • You were honorably discharged and receive a military pension or other retirement pay for your service in the military. • You had served in the military for at least 20 years. • You have a service-related disability rated by the U.S. Department of Veterans’ Affairs as being 100 percent total and permanent. Continued If your adjusted gross income is: • $30,000 or less, enter $750 on line 4 of Schedule M1C (if you and your spouse both qualify for the credit and you are filing a joint return, enter $1,500) • Between $30,000 and $37,500, use the Worksheet for Line 4 to determine your credit amount. • More than $37,500, you do not qualify for this credit. You may not claim this credit if you claimed the subtraction for military retirement pay on Schedule M1M. Worksheet for Line 4 If your income is between $30,000 and $37,500, follow the steps below: 1 The maximum credit is $750 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 750 2 Federal adjusted gross income from line 1 of Form M1 or line 34 of Schedule M1NC . . . . . . . . . . . . . . . . . . . . 3 Income limit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30,000 4 Subtract step 3 from step 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Multiply step 4 by 10% (.10) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Subtract step 5 from step 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Full-year residents: Enter the result here and on line 4 of Schedule M1C. Part-year residents and nonresidents: 7 Enter the percentage from line 30 of Schedule M1NR . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Multiply step 6 by step 7. Enter the result here and on line 4 of Schedule M1C. . . . . . . . . . . . . . . . . . . . . . . . . . If you and your spouse both qualify for the credit and are filing a joint return, multiply the result on step 6 (or step 8 if you are a partyear resident or nonresident) by 2. Line 5 — Employer Transit Pass Credit (Schedule ETP) If you purchase transit passes to give or resell to your employees, you may be eligible for this credit. To qualify: • The transit pass must be a pass, token, farecard, voucher, or similar item entitling a person to transportation at regular or reduced prices. • The passes must be used in Minnesota. • The transportation must be provided by either of the following: • A public or privately-owned mass transit facility • A person in the business of transporting people for compensation or hire. The vehicle must have seating capacity for at least six adults, not including the driver. The credit is equal to 30% of the difference between the price you pay for the passes and the price you charge employees. If you qualify, complete Schedule ETP, Employer Transit Pass Credit. Enter the credit amount on line 5 of Schedule M1C, and include both schedules when you file Form M1. Include any credits reported to you on any Schedule KPI, KS, or KF you received. Line 6 — SEED Capital Investment Credit If you invest in a qualified business in Breckenridge, Dilworth, East Grand Forks, Moorhead, or Ortonville, and the business has been certified by the Minnesota Department of Employment and Economic Development (DEED) as qualifying for the SEED Capital Investment Program, you may qualify for this credit. You may carry the credit forward for up to four years. Enter the amount from the credit certificate you received from DEED. Include the credit certificate and Schedule M1C when you file Form M1. Line 7 — Education Savings Account Contribution Credit If you contributed to a qualified education savings account in 2020, you may be eligible for a nonrefundable credit. Complete Schedule M1529, and enter the credit on line 7 of Schedule M1C. Include both schedules with your Form M1. You are not eligible for this credit if you claimed the Education Savings Account Subtraction. Line 8 — Credit for Attaining Master’s Degree in Teacher’s Licensure Field If you were a licensed teacher who completed a master’s degree program in a core content area that you began after June 30, 2017, you may be eligible for a nonrefundable credit. Complete Schedule M1CMD, Credit for Attaining Master’s Degree in Teacher’s Licensure Field, and enter the credit on line 8 of Schedule M1C. Include both schedules with your return. Line 9 — Student Loan Credit If you were a full-year or part-year resident of Minnesota in 2020 and you made eligible loan payments on your own qualified student loans in 2020, you may be eligible for a credit against tax if you had taxable earned income. Complete Schedule M1SLC, Student Loan Credit, and enter your credit from the schedule on line 9 of Schedule M1C. Include both schedules with your return. Line 10 — Beginning Farmer Management Credit If you received a credit certificate from the Minnesota Rural Finance Authority for enrolling in a management class, enter the certificate number in the space provided and credit amount on line 10. You may carry the unused credit forward for up to 3 years after the tax year it is Continued generated. Line 11 — Tax Credit for Owners of Agricultural Assets If you received a credit certificate from the Minnesota Rural Finance Authority for selling or leasing agricultural assets to a beginning farmer, enter the certificate number in the space provided and credit amount on line 11. If you received a certificate as an individual, and from a Partnership or S-Corporation, enter the certificate number for the certificate you received as an individual. If you received more than one certificate from an entity, but not as an individual, enter each certificate number on the spaces provided. If you received more than three certificates, provide an attachment with a list of the additional certificate numbers. You may carry the unused credit forward for up to 15 years after the tax year it is generated. Line 12 — Credit for Increasing Research Activities Include the amounts reported you on: • Schedule KS, line 17 • Schedule KPI, line 17 • Schedule KF, line 24 Attach the appropriate schedule when you file your return. You may carry the unused credit forward for up to 15 years after the tax year it is generated. Line 13 - Carryforward of prior year Beginning Farmer Management Credit If you have a carryforward of one or more prior year Beginning Farmer Management Credits, enter the certificate number for each credit. Next to each certificate number, enter the amount you are claiming for the current year. On line 13, enter the total carryforward amount for all credits you are claiming in the current year. Line 14 - Carryforward of prior year Owners of Agricultural Assets Credit If you have a carryforward of one or more prior year Owners of Agricultural Assets Credits, enter the certificate number for each credit. Next to each certificate number, enter the amount you are claiming for the current year. On line 14, enter the total carryforward amount for all credits you are claiming in the current year. Worksheet for Carryforward Credits Use this worksheet if you are claiming credits on lines 10 through 15. The worksheet will help you determine the credits you will carry to the next year if allowed by the carryforward period. 1. Line 10 from Form M1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2. Line 14 from Form M1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3. Add steps 1 and 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4. Line 1 of Schedule M1C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5. Subtract step 4 from step 3. If less than zero, stop here and see instructions. . . . . . . . . . . . . . . . . . . . . . . . . . 6. Line 11 of Form M1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7. Add steps 5 and 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8. Lines 2 through 9 of Schedule M1C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9. Subtract step 8 from step 7. If less than zero, stop here and see instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . 10. Lines 10 and 11 of Schedule M1C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11. Subtract step 10 from step 9. If less than zero, stop here and see instructions. . . . . . . . . . . . . . . . . . . . . . . . . . 12. Line 12 of Schedule M1C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13. Subtract step 12 from step 11. If less than zero, stop here and see instructions. . . . . . . . . . . . . . . . . . . . . . . . . 14. Lines 13 and 14 of Schedule M1C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15. Subtract step 14 from step 13. If less than zero, stop here and see instructions. . . . . . . . . . . . . . . . . . . . . . . . . 16. Line 15 of Schedule M1C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17. Subtract step 16 from step 15. If less than zero, see instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . If the result is less than zero on: Step 5 or 9: Any credits claimed on lines 10 through 15 of Schedule M1C may be carried forward to the next year depending on the carryforward period allowed for that credit. Step 11, 13, 15, or 17: You may have a carryforward amount for the credit entered on this step of the worksheet. You can carry this amount forward to the extent the credit reduced this step below zero and for the allowable carryforward period. For the credits that would have been entered on the remaining steps of this worksheet, you may carry those credits forward based on the carryforward period allowed for that credit. Line 16 — Alternative Minimum Tax Credit (Schedule M1MTC) If you have never paid Minnesota alternative minimum tax, you do not qualify for this credit. If you paid Minnesota alternative minimum tax in one or more years from 1989 through 2019, but not for 2020, complete Schedule M1MT, Alternative Minimum Tax, and Schedule M1MTC, Alternative Minimum Tax Credit, to determine if you qualify or have a credit carry over from a prior year of any unused portion of your minimum tax credit. Enter the credit from Schedule M1MTC on line 16 of Schedule M1C.
Extracted from PDF file 2020-minnesota-form-m1c.pdf, last modified November 2019

More about the Minnesota Form M1C Individual Income Tax Tax Credit TY 2020

We last updated the Other Nonrefundable Credits (onscreen version) in February 2021, so this is the latest version of Form M1C, fully updated for tax year 2020. You can download or print current or past-year PDFs of Form M1C directly from TaxFormFinder. You can print other Minnesota tax forms here.

Related Minnesota Individual 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 M1C.

Form Code Form Name
Form M1CR Credit for Income Tax Paid to Another State
Form M1CD Child and Dependent Care Credit

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 M1C from the Department of Revenue in February 2021.

Show Sources >

Form M1C is a Minnesota Individual 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 Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of Minnesota Form M1C

We have a total of ten past-year versions of Form M1C in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2020 Form M1C

2020 Schedule M1C, Other Nonrefundable Credits

2019 Form M1C

2019 Schedule M1C, Other Nonrefundable Credits

2018 Form M1C

2018 Schedule M1C, Other Nonrefundable Credits

2017 Form M1C

2017 Schedule M1C, Other Nonrefundable Credits

2016 Form M1C

2016 Schedule M1C

2015 Form M1C

2015 Schedule M1C, Other Nonrefundable Credits

Other Nonrefundable Credits (onscreen version) 2014 Form M1C

2013 M1M, Income Additions and Subtractions

2013 Other Nonrefundable Credits (onscreen version) 2013 Form M1C

2006 M1M, Income Additions and Subtractions

PDF Form Pack generated by formuPack 2012 Form M1C

PDF Form Pack

2011 Form M1C

2011 Schedule M1C, Other Nonrefundable Credits


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