Do I Need to File a Separate Form M1M With My Minnesota State Income Tax Return?


Filing Minnesota State income taxes is relatively easy once you have your federal tax forms fully completed. Everyone who files income taxes in Minnesota submits form M1, but the other forms needed depend upon individual circumstances. Form M1M is used for reporting additional income or deductions according to Minnesota state law.

M1M Overview

Schedule M1M is a Minnesota Revenue document that you need to fill out and submit with your individual income tax return if you have certain income additions or subtractions to report, including income not taxed in Minnesota and charitable contributions over $500. Read the details below to determine whether any of the items on Form M1M apply to you.

Form M1M Income Additions

If you answer “yes” to any of the questions below, it is likely you have an income addition to report on Form M1M when you file your Minnesota State income taxes.

Have you received interest from municipal bonds from a state other than Minnesota? Have you earned dividends on mutual funds invested in bonds from a state other than Minnesota? Have you received a lump sum distribution from a qualifying retirement plan and reported capital gains on federal Form 4972? Do you have expenses pertaining to income untaxed in Minnesota (except for U.S. Bonds)? Did you claim the federal special depreciation allowance for qualifying property? Was your total federal section 179 expensing more than $200,000 for the year or did you report more than $25,000 in 179 expensing? If you are an employer, did you provide your retirees with prescription drug coverage? Were any of your business expenses fees, fines or penalties paid to a regulatory or government body?
On your federal return, did you claim a suspended loss resulting from bonus depreciation? Did you claim the additional standard deduction on disaster loss or real estate taxes?

Form M1M Income Subtractions

If you can answer “yes” to any of the questions below, complete Form M1M in order to reduce your Minnesota State income taxes.

Did you take the standard deduction on your federal return even though you had charitable contributions over $500? In this tax year have you received from an estate or trust a federal bonus depreciation subtraction? In the past five years, have you reported on your state tax return an addition to your income from federal bonus depreciation?
Have you reported an increase for section 179 expensing in the past two years? Do you meet the age, disability and income requirements for Schedule M1R? Have you received retirement benefits, sick pay or unemployment from the Railroad Retirement Board? Are you a resident of a state that has reciprocity with Minnesota? Are you an enrolled member of American Indian tribe who works and lives on the tribe’s reservation? Are you a member of the U S military, United Nations Armed Force or Minnesota National Guard? Are you an organ donor with qualifying expenses? Have you paid income taxes in another country besides Canada? Do you operate or have you invested in a Job Opportunity Building Zone qualified business? If you are a farm owner and operator, have you sold farm property in the current tax year and used the proceeds to pay on your mortgage? Were you an AmeriCorps participant who received student loan payments or tuition reimbursement from the government?

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