Fillable 2019 Schedule M1C, Other Nonrefundable Credits (Minnesota Department of Revenue)

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2019 Schedule M1C, Other Nonrefundable Credits (Minnesota Department of Revenue)

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Your First Name and Inial Last Name Your Social Security Number
1 Credit for past military service (see instrucons) ................................................. 1
2 Employer Transit Pass Credit (enclose Schedule ETP) .............................................. 2
3 SEED Capital Investment Credit (see instrucons; enclose cercaon) .............................. 3
4 EducaonSavingsAccountContribuonCredit(enclose Schedule M1529) ........................... 4
5 CreditforAainingMaster’sDegreeinTeacher’sLicensureField(enclose Schedule M1CMD) ............ 5
6 StudentLoanCredit (enclose Schedule M1SLC) .................................................. 6
7 BeginningFarmerManagementCredit ......................................................... 7
EnterthecercatenumberfromthecercateyoureceivedfromtheRuralFinanceAuthority:
BF19-
8 TaxCreditforOwnersofAgriculturalAssets..................................................... 8
EnterthecercatenumberfromthecercateyoureceivedfromtheRuralFinanceAuthority:
AO19-
AO19-
AO19-
9 Creditforincreasingresearchacvies(enclose Schedule KPI, KS, or KF) ............................. 9
10 CarryforwardofprioryearBeginningFarmerManagementCredits(see instrucons).................. 10
BF -
BF -
11 CarryforwardofprioryearOwnersofAgriculturalAssetsCredits(see instrucons) ................... 11
AO
-
AO
-
12 CarryforwardofprioryearCreditforIncreasingResearchAcvies ................................ 12
Listtheyear(s)thecreditwasreportedtoyouonScheduleKPI,KS,orKF:
13 AlternaveMinimumTaxCredit(enclose Schedule M1MTC) ...................................... 13
14 Addlines1through13.Entertotalhereandonline19ofFormM1. ............................... 14
You must include this schedule with your Form M1.
2019 Schedule M1C, Other Nonrefundable Credits
Completethisscheduletodetermineline19ofFormM1.Includethisschedulewhenlingyourreturn.
9995
*191661*
Should I le this schedule?
Complete Schedule M1C if any of the following apply to you (and/or your spouse if ling a joint return):
• You qualify for the Credit for Past Military Service (see the instructions for line 1 on this schedule).
• You purchased transit passes to resell or give to your employees.
• You paid Minnesota alternative minimum tax in prior years and are not required to pay it in 2019.
• You invested in a qualied business in East Grand Forks, Breckenridge, Dilworth, Moorhead, or Ortonville, and the business has been certi-
ed as qualied for the SEED Capital Investment Program.
• You contributed to a qualifying education savings account in 2019 and did not claim the education savings account subtraction.
• You were a licensed teacher who completed a qualifying master’s degree program you began after June 30, 2017.
• You were a full-year or part-year resident and made eligible loan payments on your own qualied student loans.
• You received a credit certicate from the Minnesota Rural Finance Authority.
Report the total of all credits from Schedule M1C on line 19 of Form M1. Include any schedules you completed when ling your return.
Line Instrucons
Round amounts to the nearest whole dollar.
Line 1 — Credit for Past Military Service
You qualify for a credit if you (or your spouse if ling a joint return) have separated from service, your adjusted gross income is less than
$37,500, you did not claim a subtraction for military pension or other military retirement pay on line 32 of Schedule M1M, and one of the
following is true:
• You were honorably discharged and receive a military pension or other retirement pay for your service in the military.
• You had served in the military for at least 20 years.
• You have a service-related disability rated by the U.S. Department of Veterans’ Aairs as being 100 percent total and permanent.
If your adjusted gross income is:
• $30,000 or less, enter $750 on line 1 of Schedule M1C. (If you and your spouse both qualify for the credit and you are ling a joint return,
enter $1,500.)
• Between $30,000 and $37,500, use the Worksheet for Line 1 to determine your credit amount.
• More than $37,500, you do not qualify for this credit.
You may not claim this credit if you claimed the subtraction for military retirement pay on Schedule M1M.
2019 Schedule M1C Instrucons
Connued
Worksheet for Line 1
If your income is between $30,000 and $37,500, follow the steps below:
1 The maximum credit is $750 .................................................................
2 Federal adjusted gross income from line 1 of Form M1 ............................................
3 Income limit ..............................................................................
4 Subtract step 3 from step 2 ..................................................................
5 Multiply step 4 by 10% (.10) ................................................................
6 Subtract step 5 from step 1 ..................................................................
Full-year residents: Enter the result here and on line 1 of Schedule M1C.
Part-year residents and nonresidents:
7 Enter the percentage from line 24 of Schedule M1NR .............................................
8 Multiply step 6 by step 7. Enter the result here and on line 1 of Schedule M1C..........................
If you and your spouse both qualify for the credit and are ling a joint return, multiply the result on step 6 (or step 8 if you are a part-
year resident or nonresident) by 2.
30,000
750
Line 2 — Employer Transit Pass Credit (Schedule ETP)
If you purchase transit passes to give or resell to your employees, you may be eligible for this credit. To qualify:
• The transit pass must be a pass, token, farecard, voucher, or similar item entitling a person to transportation at regular or reduced prices.
• The passes must be used in Minnesota.
• The transportation must be provided by either of the following:
• A public or privately-owned mass transit facility
• A person in the business of transporting people for compensation or hire. The vehicle must have seating capacity for at least six adults,
not including the driver.
The credit is equal to 30 percent of the dierence between the price you pay for the passes and the price you charge employees.
If you qualify, complete Schedule ETP, Employer Transit Pass Credit. Enter the credit amount on line 2 of Schedule M1C, and include both
schedules when you le Form M1. Include any credits reported to you on any Schedule KPI, KS, or KF you received.
Line 3 — SEED Capital Investment Credit
If you invest in a qualied business in Breckenridge, Dilworth, East Grand Forks, Moorhead, or Ortonville, and the buness has been certied
by the Minnesota Department of Employment and Economic Development (DEED) as qualifying for the SEED Capital Investment Program,
you may qualify for this credit. You may carry the credit forward for up to four years.
Enter the amount from the credit certicate you received from DEED. Include the credit certicate and Schedule M1C when you le
Form M1.
Line 4 — Educaon Savings Account Contribuon Credit
If you contributed to a qualied education savings account in 2019, you may be eligible for a nonrefundable credit. Complete Schedule
M1529, and enter the credit on line 4 of Schedule M1C. Include both schedules with your Form M1.
You are not eligible for this credit if you claimed the education savings account subtraction.
Line 5 — Credit for Aaining Master’s Degree in Teacher’s Licensure Field
If you were a licensed teacher who completed a master’s degree program in a core content area that you began after June 30, 2017, you may
be eligible for a nonrefundable credit. Complete Schedule M1CMD, Credit for Attaining Master’s Degree in Teacher’s Licensure Field, and
enter the credit on line 5 of Schedule M1C. Include both schedules with your return.
Line 6 — Student Loan Credit
If you were a full-year or part-year resident of Minnesota in 2019 and you made eligible loan payments on your own qualied student loans
in 2019, you may be eligible for a credit against tax if you had taxable earned income. Complete Schedule M1SLC, Student Loan Credit, and
enter your credit from the schedule on line 6 of Schedule M1C. Include both schedules with your return.
Line 7 — Beginning Farmer Management Credit
If you received a credit certicate from the Minnesota Rural Finance Authority for enrolling in a management class, enter the certicate
number in the space provided and credit amount on line 7. You may carry the unused credit forward for up to 3 years after the tax year it is
generated.
Line 8 — Tax Credit for Owners of Agricultural Assets
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 8.
If you received a certicate as an individual, and from a Partnership or S-Corporation, enter the certicate number for the certicate you
received as an individual. If you received more than one certicate from an entity, but not as an individual, enter each certicate number on
the spaces provided. If you received more than three certicates, provide an attachment with a list of the additional certicate numbers.
You may carry the unused credit forward for up to 15 years after the tax year it is generated.
Line 9 — Credit for Increasing Research Acvies
Include the amounts reported you on:
• Schedule KS, line 17
• Schedule KPI, line 17
• Schedule KF, line 24
Attach the appropriate schedule when you le your return.
You may carry the unused credit forward for up to 15 years after the tax year it is generated.
Line 10 - Carryforward of prior year Beginning Farmer Management Credit
If you have a carryforward of one or more prior year Beginning Farmer Management Credits, enter the certicate number for each credit.
Next to each certicate number, enter the amount you are claiming for the current year. On line 10, enter the total carryforward amount for all
credits you are claiming in the current year.
Connued
Line 11 - Carryforward of prior year Owners of Agricultural Assets Credit
If you have a carryforward of one or more prior year Owners of Agricultural Assets Credits, enter the certicate number for each credit. Next
to each certicate number, enter the amount you are claiming for the current year. On line 11, enter the total carryforward amount for all cred-
its you are claiming in the current year.
Worksheet for Carryforward Credits
Use this worksheet if you are claiming credits on lines 7 through 12. The worksheet will help you determine the credits you will carry to the
next year if allowed by the carryforward period.
1. Line 10 from Form M1....................................................................
2. Line 14 from Form M1....................................................................
3. Add steps 1 and 2 ........................................................................
4. Line 16 of Form M1 ......................................................................
5. Subtract step 4 from step 3. If less than zero, stop here and see instructions. .........................
6. Line 11 of Form M1 ......................................................................
7. Add steps 5 and 6 ........................................................................
8. Lines 17 and 18 of Form M1 and Lines 1 through 6 of Schedule M1C ..............................
9. Subtract step 8 from step 7. If less than zero, stop here and see instructions. ..........................
10. Lines 7 and 8 of Schedule M1C .............................................................
11. Subtract step 10 from step 9. If less than zero, stop here and see instructions. .........................
12. Line 9 of Schedule M1C ..................................................................
13. Subtract step 12 from step 11. If less than zero, stop here and see instructions. ........................
14. Lines 10 and 11 of Schedule M1C ...........................................................
15. Subtract step 14 from step 13. If less than zero, stop here and see instructions. ........................
16. Line 12 of Schedule M1C .................................................................
17. Subtract step 16 from step 15. If less than zero, see instructions. ...................................
If the result is less than zero on:
Step 5 or 9: Any credits claimed on lines 7 through 12 of Schedule M1C may be carried forward to the next year depending on the carryfor-
ward period allowed for that credit.
Step 11, 13, 15, or 17: You may have a carryforward amount for the credit entered on this step of the worksheet. You can carry this amount
forward to the extent the credit reduced this step below zero and for the allowable carryforward period. For the credits that would have been
entered on the remaining steps of this worksheet, you may carry those credits forward based on the carry forward period allowed for that
credit.
Line 13 — Alternave Minimum Tax Credit (Schedule M1MTC)
If you have never paid Minnesota alternative minimum tax, you do not qualify for this credit.
If you paid Minnesota alternative minimum tax in one or more years from 1989 through 2018, but not for 2019, complete Schedule M1MT,
Alternative Minimum Tax, and Schedule M1MTC, Alternative Minimum Tax Credit, to determine if you qualify or have a credit carry over
from a prior year of any unused portion of your minimum tax credit. Enter the credit from Schedule M1MTC on line 13 of Schedule M1C.
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2019 Schedule M1C, Other Nonrefundable Credits (Minnesota Department of Revenue)

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Completed 29 July 2020

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