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K
Kathryn S
Level 3
March 13, 2023
Question

Fiduciary

  • March 13, 2023
  • 1 reply
  • 6 views

Is this correct, that the Minnesota Form M2 now taxes non-resident capital losses?

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1 reply

IRonMaN
IRonMaN
Level 15
March 13, 2023

I believe the answer to that is "no".

Slava Ukraini!
    K
    Kathryn SAuthor
    Level 3
    March 13, 2023

    Thank you for responding.  The new Form M2NM is pulling in the full Capital Loss on line 4 and it flows through to Form M2 as taxable income to Minnesota.  I couldn't find anything to support this since interest and dividend income is not appearing on this schedule, even though there is a line for it also.

      IRonMaN
      IRonMaN
      Level 15
      March 13, 2023

      Sorry, I don't use Lacerte so I can't explain that unexplained behavior.

      Slava Ukraini!
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