I played with some numbers in Turbotax. The municipal bond interest comes from a schedule K-1 (from a trust).
In addition to the K-1, I was also issued a Minnesota schedule KF. The municpal bond interest appears on line 1 of the schedule KF. (Line 1 is "State and municipal bond interest from outside Minnesota". )
If I change the value on line 1 of my schedule KF to zero, the value on line 1 of my form M1M shows $551.
So it appears as if line1 of schedule M1M is including both the municipal bond interest from my 1040, and also the municipal bond interest from my schedule KF. But these are both reporting the same fact -- that I received $551 of municipal bond interest.
Is this possibly a bug? Or am I doing something wrong with the schedule K-1 and/or schedule KF?
