Enlarge image
1 1
2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 36 38 40 42 44 46 48 50 52 54 56 58 60 62 64 66 68 70 72 74 76 78 80 82 84 86
3 3
4 NEAR FINAL DRAFT 8/6/24 4
5 5
6 *247611*6
7 2024 Schedule NIIT, Net Investment Income Tax 7
8 8
9 YOUR FIRST NAME, INITXX YOUR LAST NAMEXXXXXXXXXXXXXXXXXX 999999999 9
10 Your First and Last Name FEIN, SSN, or ITIN Minnesota Tax ID 10
11 11
12 Part 1 — Net Investment Income Calculation 12
13 1 Enter the total investment income from your federal Form 8960, line 8. . ..... ...... ...... ..... ...... .. 1 12345678 13
14 14
15 2 Total net gain included in line 1 relating to dispositions of Class 2a property located in Minnesota ... ...... . 2 12345678 15
16 16
17 3 Net interest and mutual fund dividends from U.S. bonds . ...... ...... ...... ..... ..... ...... ...... .... 3 12345678 17
18 18
19 4 Add lines 2 and 3 ... ...... ..... ....... ..... ...... ..... ..... ...... ...... ...... ..... ...... ..... ... 4 12345678 19
20 20
21 5 Total Minnesota Investment Income. Subtract line 4 from line 1 .... ....... ..... ..... ....... .... ...... . 5 12345678 21
22 22
23 6Enter the total deductions and modifications federalyour from Form 8960, line 11 . . . . . . . . . . . . . . . . . . . . . . . . 6 12345678 23
24 24
25 7Total deductions and modifications in included line relating6 to the Class 2a property reported 2on line ... ... 7 12345678 25
26 26
27 8 Total Minnesota Deductions and Modifications. Subtract line 7 from line 6 .... ..... ...... ..... ....... ... 8 12345678 27
28 28
29 9 Minnesota Net Investment Income. Subtract line 8 from line 5.... ...... ..... ....... ..... ...... ..... ... 9 12345678 29
30 30
31 Part 2 — Individual Tax Computation 31
32 10 Minnesota net investment income (from line 9 above)... ...... ..... ....... ..... ...... ..... ..... ..... 10 12345678 32
33 33
34 11 Subtract $1,000,000 from line 10. If the result is less than zero, enter zero and stop. ... ...... ..... ....... . 11 12345678 34
35 35
36 12 Multiply line 11 by one percent (0.01) .. ..... ...... ...... ..... ...... ...... ..... ...... ..... ...... .. 12 12345678 36
37 37
38 13 Portion of line 10 allocated to Minnesota. (see instructions) ... ...... ..... ....... ..... ...... ..... ..... 13 12345678 38
39 39
40 14 Divide line 13 by line 10. Carry to five decimal places ... ...... ..... ....... ..... ...... ..... ..... ...... 14 12345678 40
41 41
42 15 Minnesota Net Investment Income Tax. Multiply by12 line 14. Enterline here and of 14 M1Form on line . .. 15 12345678 42
43 43
44 Part 3 — Estate and Trust Tax Computation 44
45 16 Minnesota net investment income (from line 9 above)... ...... ..... ....... ..... ...... ..... ..... ..... 16 12345678 45
46 46
47 17 Portion of line 16 that is distributed to beneficiaries or charities. ..... ...... ...... ..... ...... ..... ..... 17 12345678 47
48 48
49 18 Undistributed Minnesota Net Investment Income. Subtract line 17 from line 16 ... ...... ..... ...... .... 18 12345678 49
50 50
51 19 Subtract $1,000,000 from line 18. If the result is less than zero, enter zero and stop. ... ...... ..... ....... . 19 12345678 51
52 52
53 20 Multiply line 19 by one percent (0.01) .. ..... ...... ...... ..... ...... ...... ..... ...... ..... ...... .. 20 12345678 53
54 54
55 21 Portion of line 18 allocated to Minnesota. (See instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 12345678 55
56 56
57 22 Divide line 21 by line 18. Carry to five decimal places ... ...... ..... ....... ..... ...... ..... ..... ...... 22 12345678 57
58 58
59 23 Minnesota Net Investment Income Tax. Multiply line by20 line 22. Enter here and 12 of Form M2line on . .. 23 12345678 59
60 60
61 61
62 62
63 9995 63
2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 36 38 40 42 44 46 48 50 52 54 56 58 60 62 64 66 68 70 72 74 76 78 80 82 84 86
65 65