Form Instructions 1041 (Schedule K-1) Minneapolis Minnesota 2023-2025

Form Instructions 1041 (Schedule K-1) Minneapolis Minnesota: What You Should Know

See Minnesota Death Tax for more about the zero estate tax rate of zero on Minnesota returns.) The zero estate tax rate of zero won't apply in Minnesota if you are filing a paper return. For more information, see Minnesota Estate Tax. Mn. 1st Deductions (Single), 2nd Deductions (Non-Minneapolis residents) (2017) If the Minnesota Estate Tax Deduction (see Minnesota Death Tax for more information) applies, it also applies to the Minnesota Non-Resident Deductions (Deductions) in Minnesota. Minnesota Non-Resident Deductions for Individuals Non-residents claiming Minnesota non-resident tax exemption (for Minnesota returns) will also be allowed to claim Minnesota Deductions for both 2025 and 2018. Minnesota Nonresident Deductions (Deductions) for Minnesotans These Minnesota non-resident deductions (Deductions) are allowed for MN taxpayers that live in Minnesota for only 7 months (a 7-month residence in Minnesota) in 2017, or the 6-month qualifying period of 2018. The Minnesota Non-Resident Exemption (MN) allows Minnesotans to claim Non-Resident Deductions on Minnesota returns for only 12 months or the qualified taxable year (the 12 months in 2025 or 2018, whichever occurs earlier). The qualifying period for the 12-month non-resident deduction is determined as follows: Qualifying Period in the Qualifying Year Two (2) consecutive calendar years of qualifying activity during the 5-year taxable period preceding the Qualifying Year (Example: 2025 — the 5 years preceding March 2018), or One (1) consecutive 12-month period of qualifying activity during the 12-month qualified period preceding the Qualifying Year (Example: 2025 — the 12-month prior to January 2017). Example: A married couple with qualifying activities in 2025 are eligible to claim Minnesota non-resident Deductions for 2016. If they lived in Minnesota for only 6 months in 2015, they won't be eligible to claim MN Deductions for the year 2025 or later.

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