2019 Schedule M1LS, Tax on Lump-Sum Distribuon
You must complete federal Form 4972 before you can complete this schedule.
1 Poronofyourlump-sumdistribuonthatiseligibleforaveraging(from line 19 of federal Form 4972) ........... 1
2 IfyoucompletedScheduleM1R,seeinstrucons.IfyoudidnotcompleteScheduleM1R,enter0 ............... 2
3 Subtractline2fromline1 ........................................................................... 3
4 Mulplyline3by20%(.20).......................................................................... 4
5 FromthetaxtableintheFormM1instrucons,ndthetaxfortheamount
online4aboveusingthecolumninthetableforsinglepersons ........................................... 5
6 Mulplyline5by5 ................................................................................ 6
Ifyoudidnotcompletelines20through22offederalForm4972,skiplines7through10below,
andentertheamountonline11ofthisschedule.
7 Amountfromline22offederalForm4972 ............................................................. 7
8 Mulplyline7by20%(.20).......................................................................... 8
9 FromthetaxtableintheFormM1instrucons,ndthetaxfortheamount
online8aboveusingthecolumnforsinglepersons ..................................................... 9
10 Mulplyline9by5 ............................................................................... 10
11 Taxontheordinaryincomeporonofyourlump-sumdistribuon(subtractline10fromline6).
Ifyousharedthelump-sumdistribuonwithotherrecipients,seeinstrucons.
Entertheresulthereandonline14ofFormM1.ChecktheboxforM1LSonline14ofFormM1.
Estatesandtrusts:Includethisamountonline12ofFormM2andchecktheboxforScheduleM1LS ............ 11
You must include this schedule and a copy of your federal Form 4972 when you le Form M1.
Your First Name and Inial Last Name Social Security Number
Round amounts to the
nearest whole dollar.
9995
*191801*
2019 Schedule M1LS Instrucons
Should I le Schedule M1LS?
If you received a lump-sum distribution from a pension, prot-sharing, or stock bonus plan in 2019, you must le Schedule M1LS if both of
the following apply:
You led federal Form 4972, Tax on Lump-Sum Distributions.
You were a Minnesota resident when you received any portion of the lump-sum distribution.
You must include Schedule M1LS and a copy of your federal Form 4972 when you le Form M1.
What if I moved into or out of Minnesota in 2019?
Complete this schedule if you were a Minnesota resident when you received any portion of the distribution.
If you received a portion while you were a nonresident and a portion while you were a resident, you must complete Schedule M1LS and
include the full amount from federal Form 4972 on this schedule.
Five-Year Averaging Method
Even though federal Form 4972 allows you to use only the ten-year averaging method, you must use the ve-year averaging method for Min-
nesota.
Capital Gain Elecon
Minnesota does not allow a capital gain election for lump-sum distributions. You must report any capital gain election on Form 4972, line 6,
as an addition to federal taxable income on line 9 of Schedule M1M, Income Additions and Subtractions.
Line Instrucons
Round amounts to the nearest whole dollar.
Line 2Subtracon for Age 65 or Older or Disabled
If you completed Schedule M1R, Age 65 or Older/Disabled Subtraction, and line 3 of Form M1 is:
Zero or less, enter the amount from line 13 of Schedule M1R on line 2 of Schedule M1LS.
More than zero, read the rest of this instruction.
If line 3 minus line 8 of Form M1 is:
Zero or less, assume for purposes of this line that the actual number is a positive rather than a negative number. Then, compare it (as a posi-
tive number) to the amount on line 13 of Schedule M1R and enter whichever amount is less on line 2 of Schedule M1LS.
More than zero, enter zero on line 2 of Schedule M1LS.
Line 11 — Tax on Ordinary Income Poron of Lump-Sum Distribuon
Subtract line 10 from line 6 and enter the result on line 11.
Mulple recipients: If you shared a lump-sum distribution from a qualied retirement plan, follow the steps below to determine line 11:
1 From the front of this schedule, subtract line 10 from line 6 ..........................................
2 Enter the percentage from box 9a of federal Form 1099-R ...........................................
3 Multiply step 1 by the percentage in step 2 ........................................................
Enter the result from step 3 on line 11 of Schedule M1LS. In the space to the left of line 11, print “MRD.”
%