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Where do i find the Schedule M1NC
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Where do i find the Schedule M1NC
I'm assuming you are referring to a 2022 return you filed with TurboTax. You may or may not have a form M1NC included in your return. This schedule is used for items where the Minnesota tax rules don't match the federal rules, meaning amounts from your federal return may need to be adjusted. If you didn't need this schedule, you will have nothing to add on that line of your M1PR. You would have a schedule M1NC if any of the following apply to you:
• You had business meal expense exceeding 50% of the cost.
• You exceeded the 30% business interest expense limitation which was increased by the CARES Act.
• You had a Minnesota net operating loss carryover due to nonconformity to the CARES Act for disallowed excess business losses.
• You had a net operating loss in tax years 2018 through 2020 which you carried back to prior years and had your net operating loss deduction
limited to 80% of taxable income.
• You claimed a federal employer paid leave credit and had to include an amount in income due to claiming the credit.
• You claimed a credit for continuation of coverage and were required to include an amount in gross income.
If you do have an M1NC you should be able to find it in your return in TurboTax. You will need to print all forms and schedules in order to find it. If you're using TurboTax Online, sign onto your online account, you'll land on the Tax Home web page, scroll down and click on Add a state. This will take you back to the 2022 online tax return. Click on Tax Tools on the left side of the online program screen. Then click on Print Center. Then click on Print, save or preview this year's return. Choose the option to Include government and TurboTax worksheets. When you have the file open, scroll to your state tax forms, and you should be able to find the M1NC there.
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