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Common questions about Minnesota additions (M-1 and M-1M) in Lacerte

by Intuit Updated 1 year ago

Use Screen 51.221, Minnesota Modifications, to Apply provisions for Minnesota partial conformity. These acts contain changes affecting businesses for tax year 2020. A bill signed into law on July 1, 2021 conforms Minnesota law to certain provisions from these federal acts. Minnesota has not adopted certain federal changes, adjustments are required to correctly determine your Minnesota taxable income. Use the instructions to calculate nonconformity adjustments relating to the TCDTR, SECURE, FFCRA, CARES Act, TCDTR20, COVIDTRA, and ARPA

Use the Minnesota Additions (M1 and M1M) section to make entries and adjustments for the Schedule M-1.

Related topics:

Lacerte Tax

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