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Minnesota Department of Revenue Retroactive Tax Code Changes May 2023

IntuitAlicia
Employee
Employee

May 24, 2023 Minnesota Department of Revenue signed tax code changes into law that retroactively impact the following tax forms:

  • 2020 Schedule M1NR, Nonresidents/Part-Year Residents (Release July 6)
  • 2021 Schedule M1M, Income Additions and Subtractions (Release June 29)
  • 2021 Schedule M1NR, Nonresidents/Part-Year Residents (Release June 29)
  • 2022 Schedule M1NR, Nonresidents/Part-Year Residents (Release June 28)

Lacerte 2022 Updates Include:

  • Schedule M1NR Form Instructions
  • Line 14, Column A calculation (MN source amount while nonresident)
  • Line 14, Column B - Line 16 amount of Schedule M1NC negative amounts allowed
  • Proforma & Tax Planner reviewed to include any applicable changes
  • Conformity checkbox available in Screen 51.221, Minnesota Modifications
  • Diagnostic messaging, references conformity checkbox

Lacerte 2021 Updates Include:

Schedule M1M

  • Schedule M1M Form Instructions
  • Line 29 added and included on Line 32 (when conformity box checked)
  • Proforma & Tax Planner reviewed to include any applicable changes
  • Conformity checkbox available in Screen 51.221, Minnesota Modifications
  • Diagnostic messaging, references conformity checkbox

Schedule M1NR

  • Schedule M1NR Form Instructions
  • Line 14, Column A calculation updated
  • Line 14, Column B - Line 13 amount of Schedule M1NC is MN source amount while nonresident
  • Line 14, Column B - Line 16 amount of Schedule M1NC negative amounts allowed
  • Proforma & Tax Planner reviewed to include any applicable changes
  • Conformity checkbox available in Screen 51.221, Minnesota Modifications
  • Diagnostic messaging, references conformity checkbox

Lacerte 2020 Updates Include:

  • Schedule M1NR Form Instructions
  • Line 14, Column A calculation (MN source amount while nonresident)
  • Line 14, Column B - Line 16 amount of Schedule M1NC negative amounts allowed
  • Proforma & Tax Planner reviewed to include any applicable changes
  • Conformity checkbox available in Screen 51.221, Minnesota Modifications
  • Diagnostic messaging, references conformity checkbox
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IntuitAlicia
Employee
Employee

For more Lacerte News and Updates, click here.

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IntuitAlicia
Employee
Employee

For more Lacerte News and Updates, click here.

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