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4 NEAR FINAL DRAFT 8/1/24 4
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6 *241321* 6
7 2024 Schedule M1CR, Credit for Income Tax Paid to Another State 7
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10 TAXPAYER’S 1ST NAME,IN TAXPAYER’S LAST NAMEXXXXXX 999999999 10
11 Your First Name and Initial Last Name Social Security Number 11
12 STATE OR PROVINCE TAXED INCOME ALSO TAXED BY MINNESOTAXXXXX 12
13 State or Canadian Province or Territory That Taxed Income Also Taxed By Minnesota 13
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15 You must complete a separate Schedule M1CR for each state or province to which you paid taxes. To report tax paid to Wisconsin, use 15
16 Schedule M1RCR, Credit for Tax Paid to Wisconsin. 16
17 To be eligible for this credit, all of these must apply: 17
18 • You were a full- or part-year Minnesota resident in 2024 18
19 • You paid 2024 state income tax to both Minnesota and another state or Canadian province on the same income 19
20 • You were a Minnesota resident when both states taxed the same income 20
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22 X Check this box if you are claiming a credit for non-composite tax paid by a pass-through entity (see instructions). 22
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24 X Check this box if you are claiming a credit for composite tax paid by a pass-through entity (see instructions) . 24
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26 Round amounts to the 26
27 Full-Year Residents and Part-Year Residents nearest whole dollar. 27
28 1 Amount of adjusted gross income you received while 28
29 a Minnesota resident that was taxed by the other state (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 12345678 29
30 2 Your adjusted gross income adjusted by U .S . bond interest and 30
31 bonds of another state (determine from instructions). 31
32 Part-year residents: See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 12345678 32
33 3 Divide line 1 by line 2 . Enter the result as a decimal (carry to 33
34 five decimal places; if line 1 is more than line 2, enter 1.00000) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3. . 1.12345. 34
35 4 Complete the lines below to determine your Minnesota tax after credits. 35
36 a Tax from line 13 of Form M1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4a 123456 36
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38 b Add lines 1-2 and 4-9 of Schedule M1C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4b 123456 38
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40 Subtract line 4b from line 4a . If the result is zero or less, STOP HERE . You do not qualify for this credit . . . . . . . . . . 4 12345678 40
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42 5 Multiply line 4 by line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 12345678 42
43 6 From the other state’s income tax return, enter the tax amount before 43
44 you subtract any tax withheld or estimated tax payments (see instructions). 44
45 If you paid taxes to a Canadian province or territory, see instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 12345678 45
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47 Full-Year Residents 47
48 7 Amount from line 5 or line 6, whichever is less . Enter here and include on line 3 of Schedule M1C . . . . . . . . . . . . . 7 12345678 48
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50 Part-Year Residents 50
51 8 From the other state’s income tax return, enter the amount of income 51
52 taxed by that state before subtracting itemized or standard deductions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 12345678 52
53 9 Divide line 1 by line 8 . Enter the result as a decimal (carry to 53
54 five decimal places; if line 1 is more than line 8, enter 1.00000) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9. . 1.12345. 54
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56 10 Multiply line 6 by line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 12345678 56
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58 11 Amount from line 5 or line 10, whichever is less . Enter here and include on line 3 of Schedule M1C . . . . . . . . . . . 11 12345678 58
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60 You must include this schedule with your Form M1. 60
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