Fillable 2019 Form M2X, Amended Income Tax Return for (Minnesota Department of Revenue)

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2019 Form M2X, Amended Income Tax Return for (Minnesota Department of Revenue)

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Name of Estate or Trust Federal ID Number Minnesota Tax ID Number Number of Schedules KF
Name and Title of Fiduciary Decedent’s Social Security Number Date of Death Number of Beneciaries
Current Address of Fiduciary City State ZIP Code
Decedent’s Last Address or Grantor’s Address When Trust Became Irrevocable City State ZIP Code
2019 Form M2X, Amended Income Tax Return for Estates and Trusts
A—As previously reported B—Net change C—Corrected amount
1 Federal taxable income (from federal Form 1041) .................... 1
2 Deducons and losses not allowed (from Form M2, line 2) ............. 2
3 Capital gain amount of lump-sum distribuon........................ 3
4 Addions (from line 55, column E, on page 4 of this form) ............. 4
5 Add lines 1 through 4 ............................................ 5
6 Subtracons (from line 55, column E, on page 4 of this form) ........... 6
7 Fiduciary’s income from non-Minnesota sources .....................
7
8 Add lines 6 and 7 ............................................... 8
9 Minnesota taxable net income (subtract line 8 from line 5) ............ 9
10 Tax from table on pages 16–19 of the M2 instrucons .............. 10
11 Tax from S poron of ESBT (from Schedule M2SB) .................. 11
12 Total of tax from (enclose appropriate schedules):
Schedule M1LS Schedule M2MT ....................... 12
13 Composite income tax for nonresidents (enclose Schedules KF) .......... 13
14 Total income tax (add lines 10 through 13) ........................ 14
15 Esmated tax and/or extension payments ........................ 15
16 Minnesota tax withheld (enclose documentaon) .................. 16
Tax year beginning (mm/dd/yyyy) and ending (mm/dd/yyyy)
9995
Check if name
has changed:
*192911*
Check all that apply:
Composite Income Tax Installment Sale of Pass-through Assets or Interests
Check reason you are amending:
Amended Federal Return
IRS
Adjustment
Changes Aect Schedules
KF
Court Case
Net Operang Loss Carried Back
From Tax Year Ending
Other —
Signature of duciary or ocer represenng duciary
Print name of contact MN ID or Soc. Sec. number Date Dayme Phone
Paid preparer’s signature Preparer’s PTIN Date Dayme phone
Explain net changes on next page.
Mail to:
Minnesota Amended Fiduciary Tax
Mail Staon 1310
600 N. Robert St.
St. Paul, MN 55145-1310
I declare that this return is correct and complete to the best of my knowledge and belief.
I authorize the Minnesota Department of Revenue to discuss this tax return with the preparer.
17 Other refundable credits ....................................... 17
18 a. Other nonrefundable credits ................................ 18a
b. Tax Credit for Owners of Agricultural Assets ................... 18b
Enter the cercate number from the cercate
you received from the Rural Finance Authority: AO -
c. Unused credit for owners of agricultural assets from a prior year .. 18c
AO -
19 Amount due from original Form M2 (see instrucons) .................................................... 19
20 Total credits and tax paid (add lines 15 column C through 18 column C and line 19) ............................ 20
21 Refund amount from original Form M2, line 21 (see instrucons) .......................................... 21
22 Subtract line 21 from line 20 (if result is less than zero, enter the negave amount) ........................... 22
23 Tax you owe (if line 14C is more than line 22, subtract line 22
from line 14C. If line 22 is a negave amount, see instrucons) ............................................. 23
24 If you failed to mely report federal changes or the IRS assessed a penalty (see instrucons) ................... 24
25 Add lines 23 and 24 ................................................................................ 25
26 Interest (see instrucons) ........................................................................... 26
2 7 AMOUNT DUE (add lines 25 and 26). Payment method: Electronic Check (aach voucher) ............. 27
2 8 REFUND DUE (if line 22 is more than line 14C, subtract line 14C from line 22) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
29 To have your refund direct deposited, enter the following. Otherwise, you will receive a check.
Account type: Roung number Account number (use an account not associated with any foreign banks)
Checking Savings
2019 M2X, page 2
9995
*192921*
Addions to Income
30 State and municipal bond interest from outside Minnesota ........ 30
31 State income tax deducted on federal return .................... 31
32
Expenses deducted on your federal return that are aributable
to
income not taxed by Minnesota (other than U.S. bond interest) ...... 32
33 80 percent of suspended loss from 2001-2005 or 2008-2018
on federal return generated by bonus depreciaon .............. 33
34 80 percent of federal bonus depreciaon ....................... 34
35 Secon 199A qualied business income ........................ 35
36 Addion due to federal changes not adopted by Minnesota ........ 36
37 Net operang loss carryover adjustment........................ 37
38 Foreign derived intangible income (FDII) deducon .............. 38
39 Special deducon under secon 965 ........................... 39
40 Excess business loss limitaon and NOL deducon adjustments..... 40
41 Business interest expense limitaon ........................... 41
42 Add lines 30 through 41. Also enter the amount from
line 42C on line 56, column E, under Addions .................. 42
Subtracons from Income
43 Interest on U.S. government bond obligaons, minus expenses
deducted on federal return that are aributable to this income ...... 43
44 State income tax refund included on federal return .............. 44
45 Federal bonus depreciaon subtracon ........................ 45
46 Subtracon due to federal changes not adopted by Minnesota ..... 46
47 Subtracon for prior addback of reacquision of business
indebtedness income ...................................... 47
48 Subtracon for railroad maintenance expenses .................. 48
49 Net operang loss carryover adjustment........................ 49
50 Deferred foreign income (secon 965).......................... 50
51 Global intangible low-taxed income (GILTI) ...................... 51
52 Disallowed secon 280E expenses of
medical cannabis manufacturers .............................. 52
53 Add lines 43 through 52. Also enter the amount from
line 53C on line 56, column E, under Subtracons ............... 53
A—As previously reported B—Net change C—Corrected amount
2019 M2X, page 3
*192931*
9995
EXPLANATION OF CHANGE—Explain each change in detail in the space provided below. Use a separate sheet, if
needed. If the changes involve items requiring supporng informaon, be sure to aach the appropriate schedule,
statement or form to Form M2X to verify the correct amount.
A B C D E
Beneciary’s Social Share of federal Percent of total on Shares assignable to beneciary and to duciary
Name of each beneciary Security number distributable net income line 56, column C Addions Subtracons
54 %
%
%
%
%
55 Fiduciary %
56 Total 100%
2019 M2X, page 4
*192941*
Instrucons for 2019 Form M2X
Who Should File M2X?
This form should be led by duciaries to correct—or amend—an original 2019 Minnesota duciary return.
Federal return adjustments. If the Internal Revenue Service (IRS) changes or audits your federal return or you amend your federal return and
it aects your Minnesota return or distributions to beneciaries, you must le an amended Minnesota return with 180 days. If you are ling
Form M2X based on an IRS adjustment, check the box at the top of the form and attach a copy of your amended federal return or correction
notice you received from the IRS to Form M2X.
If the changes do not aect your Minnesota return or Schedules K-1, you have 180 days to send a letter of explanation and a copy of your
amended federal return or the correction notice to: Minnesota Fiduciary Tax, Mail Station 5140, 600 N. Robert St., St. Paul, MN 55146-5140.
If you fail to report as required, a 10 percent penalty will be assessed on any additional tax. See line 24 instructions.
Claim for refund. Use Form M2X to make a claim for refund and report changes to your Minnesota liability. If you make a claim for a refund
and we do not act on it within six months of the date led, you may bring an action in the district court or the tax court.
When to File
File Form M2X only after you have led your original return. You may le Form M2X within 3½ years after the return was due or within one
year from the date of an order assessing tax, whichever is later. If you led your original return under an extension by the extended due date,
you have up to 3½ years from the extended due date to le the amended return.
Filing Reminders
• The amended return must be signed by the duciary or authorized ocer of the organization receiving, controlling or managing the
income of the estate or trust. The person must also include his or her ID number.
• If someone other than the duciary prepared the return, the preparer must also sign.
• Round amounts to the nearest dollar. Drop amounts less than 50 cents and increase amounts 50 cents or more to the next higher dollar.
• Forms and information are available on our website at www.revenue.state.mn.us.
If you need help completing your amended return, call 651-556-3075. We’ll provide information in other formats upon request.
Explanaon
On page 4 of Form M2X, include a detailed explanation of why the original return was incorrect. Providing this information will help us verify
the amended amounts.
Use of Informaon
All information provided on this form is private, except for your Minnesota tax ID number, which is public. Private information cannot be
given to others except as provided by state law.
The identity and income information of the beneciaries are required under state law so the department can determine the beneciaries’ correct
Minnesota taxable income and verify if the beneciaries have led returns and paid the tax. The Social Security numbers of the beneciaries
are required to be reported on Schedule KF under M.S. 289A.12, subd. 13.
Line Instrucons
Columns A, B, C
• Column A: Enter the amounts shown on your original return or as later adjusted by an amended return or audit report.
• Column B: Enter the dollar amount of each change as an increase or decrease for each line you are changing. Show all decreases in paren-
theses. On the back of Form M2X, explain the changes in detail. If the changes involve items requiring supporting information, attach to
Form M2X the appropriate schedule, statement or form to verify the corrected amount.
• Column C: Enter the corrected amounts after the increases or decreases. If there are no changes, enter the amount from column A.
Lines 18b and 18c
If you received a credit certicate from the Minnesota Rural Finance Authority for selling or leasing agricultural assets to a beginning farmer,
enter the certicate number in the space provided and credit amount on line 18b.
If you have multiple credits, enter the certicate number your duciary received directly from the Rural Finance Authority within the certicate
number box. If you have multiple credits and received all credits from other pass-through entities, enter the certicate number relating to the
largest credit amount within the certicate number box. Subtotal all credit amounts on Line 18b.
If you have unused credits from prior years you can use this year, enter the unused credit amount on line 18c and the certicate number associ-
ated to that credit amount in the space provided.
Line 19
Enter the total of the following tax amounts, whether or not paid.
1. For the original 2019 M2 return, the amount from line 16.
2. For all previously led 2019 M2X Returns, the amount from line 23.
3. Additional tax due as the result of an audit or notice of change.
Do not include any amounts that were paid for penalty, interest or underpayment of estimated tax.
For addional informaon, see the 2019 Form M2 instrucons
Continued
Line 21
Enter the total of the following refund amounts, whether or not the refund has been received.
1. For the original 2019 M2 return, the amount from line 21.
2. For all previously led 2019 M2X Returns, the amount from line 28.
3. Refund or reduction in tax from a protest or other type of audit adjustment.
Include any amount that was credited to estimated tax or applied to pay past due taxes. Do not include any interest that may have been included
in the refunds you received.
If the refund amount on your original return was reduced by an additional charge for underpaying estimated tax reported on line 19 of the 2019
M2, then when guring the amount to enter on the 2019 M2X Line 21, add the amount from this line to the amount reported on line 21 of the
2019 M2.
Lines 23 and 28
Lines 23 and 28 should reect the changes to your tax and/or credits as reported on lines 1 through 18 of Form M2X. If you have unpaid taxes
on your original Form M2, this amended return is not intended to show your corrected balance due.
Line 23
If line 22 is a negative amount, treat it as a positive amount and add it to line 14C. Enter the result on line 23. This is the amount you owe, and is
due when you le your amended return. You cannot use your estimated tax account to pay this amount.
Line 24
If only one of the penalties below applies, you must multiply line 23 by 10 percent (.10). If both penalties apply, multiply line 23 by 20 percent
(.20). Enter the result on line 24.
• The IRS assessed a penalty for negligence or disregard of rules or regulations.
• You failed to report federal changes to the department within 180 days as required.
Line 26
Interest is calculated as simple interest and accrues on unpaid tax and penalties from the regular due date until it is paid in full. Use the formula
below with the appropriate interest rate: Interest = line 25 x number of days past the due date x interest rate ÷ 365
If the days fall in more than one calendar year, you must determine the number of days separately for each year.
The interest rate for 2019 is 5 percent.
Penalty will be assessed if the additional tax and interest are not paid with the amended return.
Line 27
Pay Electronically. Visit our website at www.revenue.state.mn.us and log in to e-Services. If you don’t have internet access, call 1-800-
570-3329 to pay by phone. When paying electronically, you must use an account not associated with any foreign banks.
Pay by Check. Visit our website at www.revenue.state.mn.us and click on Make a Payment and then Check or Money Order to create a
voucher. Print and mail the voucher with a check made payable to Minnesota Department of Revenue. When you pay by check, you authorize us
to make a one-time electronic fund transfer from your account. You may not receive your cancelled check.
Line 28
If you want your refund to be directly deposited into your bank account, complete line 29. Your bank statement will indicate when your refund
was deposited to your account. Otherwise, skip line 29 and your refund will be sent to you in the mail.
This refund cannot be applied to your estimated tax account.
Line 29
If you want your refund to be directly deposited into your checking or savings account, enter the routing and account numbers.The roung
number must have nine digits. The account number may contain up to 17 digits (both numbers
and letters). If your account number contains less than 17 digits, enter the number and leave
out any hyphens, spaces and symbols. If the routing or account number is incorrect or is not
accepted by your nancial institution, your refund will be sent to you in the form of a paper
check.
Lines 30–53
If you enter a corrected amount in Column C of lines 30 through 53, you may be required to notify beneciaries of any adjustments to their
income. Report the corrected information on a new Schedule KF, and check the “Amended KF” box toward the top of the schedule.
Signature
The return must be signed by the duciary or authorized ocer of the organization receiving, controlling or managing the income of the estate
or trust. The person must also include his or her ID number.
If someone other than the duciary prepared the return, the preparer must also sign and include their ID and phone number.
You may check the box in the signature area to give us your permission to discuss your return with the paid preparer. This authorization remains
in eect until you notify the department in writing (either by mail or fax) that the authorization is revoked. Checking the box does not give
your preparer the authority to sign any tax documents on your behalf or to represent you at any audit or appeals conference. For these types of
authorities, you must le Form REV184, Power of Attorney.
You can nd your bank’s roung number and
account number on the boom of your check.
2
2019 Form M2X instrucons (connued)
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2019 Form M2X, Amended Income Tax Return for (Minnesota Department of Revenue)

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Completed 29 July 2020

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