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    • Created with Sketch. In preparation for the 4/15 deadline, see our most popular resources. Lacerte Hot Topics.
    Created with Sketch. In preparation for the 4/15 deadline, see our most popular resources. Lacerte Hot Topics.
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    Fiduciary

    Kathryn S
    Level 2
    ‎03-13-2023 02:13 PM

    Is this correct, that the Minnesota Form M2 now taxes non-resident capital losses?

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    3 Comments 3
    IRonMaN
    Level 15
    ‎03-13-2023 02:24 PM

    I believe the answer to that is "no".


    Slava Ukraini!
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    Kathryn S
    Level 2
    ‎03-13-2023 02:51 PM

    Thank you for responding.  The new Form M2NM is pulling in the full Capital Loss on line 4 and it flows through to Form M2 as taxable income to Minnesota.  I couldn't find anything to support this since interest and dividend income is not appearing on this schedule, even though there is a line for it also.

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    IRonMaN
    Level 15
    ‎03-13-2023 02:54 PM

    Sorry, I don't use Lacerte so I can't explain that unexplained behavior.


    Slava Ukraini!
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