Fillable 2019 Schedule M1LS, Tax on Lump-Sum Distribuon (Minnesota Department of Revenue)

Fill Online, Printable, Fillable, Blank 2019 Schedule M1LS, Tax on Lump-Sum Distribuon (Minnesota Department of Revenue) Form

Use Fill to complete blank online MINNESOTA DEPARTMENT OF REVENUE pdf forms for free. Once completed you can sign your fillable form or send for signing. All forms are printable and downloadable.

2019 Schedule M1LS, Tax on Lump-Sum Distribuon (Minnesota Department of Revenue)

On average this form takes 4 minutes to complete

The 2019 Schedule M1LS, Tax on Lump-Sum Distribuon (Minnesota Department of Revenue) form is 1 page long and contains:

  • 0 signatures
  • 0 check-boxes
  • 14 other fields

Country of origin: US
File type: PDF

Use our library of forms to quickly fill and sign your Minnesota Department of Revenue forms online.

BROWSE MINNESOTA DEPARTMENT OF REVENUE FORMS

Related forms
Fill has a huge library of thousands of forms all set up to be filled in easily and signed.
Fill in your chosen form
Sign the form using our drawing tool
Send to someone else to fill in and sign.
find another form
 
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 2 — Subtrac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.”
%
Download
Save PDF to desktop
Email
Email completed PDF
Send for Signing
Email for others to sign
Print
Print document
Choose a Field
Click on a field and
select the person that should complete it
Want to add a signature?
You can add a signature field
and assign it to someone else
to sign
Choose a Field
Click on a field and
select the person that should complete it

2019 Schedule M1LS, Tax on Lump-Sum Distribuon (Minnesota Department of Revenue)

This document is locked as it has been sent for signing.

You have successfully completed this document.

Other parties need to complete fields in the document. You will recieve an email notification when the document has been completed by all parties.

This document has been signed by all parties.

Completed 29 July 2020

Message

View Audit Log
Print With Audit Log
Duplicate Document