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Level 2
February 26, 2021
Question

K-1 Form 1041 Minnesota Return

  • February 26, 2021
  • 3 replies
  • 13 views

How are Excess Deductions on Termination reported on K-1, Form 1041, Line 11, Code A treated on a Minnesota Income Tax Return?  I know how they are reported for Federal Tax Purposes, I need to know if any adjustments are needed when determining Minnesota Adjusted Gross Income.

    3 replies

    Level 15
    March 3, 2021
    bob651Author
    Level 2
    March 3, 2021

    Does the amount reported on Schedule K-1 (Form 1041) Box 11, Code A (which is treated as a deduction to arrive at adjusted gross income on Schedule 1, line 22) require any special treatment on the Minnesota Income tax return?

    Level 15
    March 3, 2021