I think we have some MN preparers on the board and hoping someone can confirm or correct my understanding of schedule.
Client is IN resident and received K-1 from parent estate. Only amount on federal K-1 is on line 5.
Schedule KF, which was prepared by a MN firm, has "no adjustments" typed out on line 1 and nonresident lines of 23-29 are all blank. The way I'm reading this is that none of the income is taxable to MN; that there would be amounts on these lines if it was determined that the source of the income would be taxable by MN.
This is going to be an amended return which was originally filed as all income taxable to MN. Am I correct that it should be no MN income, or am I missing something?
Thanks.
Client is IN resident and received K-1 from parent estate. Only amount on federal K-1 is on line 5.
Schedule KF, which was prepared by a MN firm, has "no adjustments" typed out on line 1 and nonresident lines of 23-29 are all blank. The way I'm reading this is that none of the income is taxable to MN; that there would be amounts on these lines if it was determined that the source of the income would be taxable by MN.
This is going to be an amended return which was originally filed as all income taxable to MN. Am I correct that it should be no MN income, or am I missing something?
Thanks.