Form Tax M1 PDF Details

The 2020 Form M1, Individual Income Tax, serves as a critical document for residents, part-year residents, and non-residents of Minnesota to report their annual income and calculate state tax liabilities. It requires detailed information from filers, including their names, social security numbers, dates of birth, as well as similar details for spouses and dependents if applicable. The form encompasses various sections that mirror federal tax return forms, such as income details, adjustments, deductions, and credits, tailored specifically to Minnesota's tax requirements. Filers are asked to report their wages, salaries, tips, IRA distributions, unemployment benefits, and other forms of income. Additionally, the form allows for contributions to the state's Nongame Wildlife Fund and places a particular focus on state-specific tax entries like state refunds, subtractions, and additions to income. Taxpayers are also provided with the option to support political campaigns via the State Elections Campaign Fund by allocating $5, a gesture that does not affect their tax liability or refund. Moreover, the form details the computation of Minnesota taxable income, alternative minimum tax, and non-refundable and refundable credits. Strict guidelines around direct deposits, estimated tax payments, penalties, and owed amounts ensure a comprehensive engagement with the filer's tax responsibilities. Lastly, the form emphasizes the importance of accuracy through a declaration statement signed by the taxpayer and, if applicable, the paid preparer, maintaining the integrity of the filing process.

QuestionAnswer
Form NameForm Tax M1
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namesmn tax return, 2020 mn form, 2020 mn, minnesota tax forms

Form Preview Example

2020 Form M1, Individual Income Tax

Your First Name and Initial

Your Last Name

If a Joint Return, Spouse’s First Name and Initial

Spouse’s Last Name

Current Home Address

City

2020 Federal Filing Status (place an X in one box):

(1) Single (2) Married Filing Jointly (3) Married Filing Separately Spouse Name

*201111*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Your Social Security Number (SSN)

 

 

Your Date of Birth

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Spouse’s Social Security Number

 

 

Spouse’s Date of Birth

 

 

 

 

 

 

 

 

 

Check if Address is:

 

State

 

 

ZIP Code

 

 

 

 

New

 

Foreign

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(4) Head of Household

 

 

(5) Qualifying Widow(er)

 

 

 

 

 

 

Dependents (see instructions):

Spouse SSN

Dependent 1 First Name

Dependent 1 Last Name

Dependent 2 First Name

Dependent 2 Last Name

Dependent 3 First Name

Dependent 3 Last Name

 

 

 

Dependent 1 Relationship to You

 

Dependent 1 SSN

 

 

 

Dependent 2 Relationship to You

 

Dependent 2 SSN

 

 

 

 

 

Dependent 3 SSN

Dependent 3 Relationship to You

 

 

 

 

State Elections Campaign Fund

To grant $5 to this fund, enter the code for the party of your choice. It will help candidates for state offices pay campaign expenses. This will not increase your tax or reduce your refund.

Political Party Code Numbers:

 

 

 

 

 

 

Republican—11

Independence—13

Green—15

 

Legal Marijuana Now—17

 

Your Code

Spouse’s Code

Democratic/Farmer-Labor—12

Grassroots/Legalize Cannabis—14

Libertarian—16

 

General Campaign Fund—99

 

 

 

 

 

 

 

From Your Federal Return (see instructions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

A. Wages, salaries, tips, etc.

B. IRA, pensions, and annuities

 

C. Unemployment

 

 

D. Federal taxable income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1

Federal adjusted gross income (from line 11 of federal Form 1040 and 1040-SR)

. . . . . . 1

 

 

 

 

 

 

 

 

 

 

 

 

2

Additions to Minnesota income from line 17 of Schedule M1M (see instructions; enclose Schedule M1M)

. . 2.

.

.

 

 

 

3

Add lines 1 and 2

 

 

 

 

 

 

 

 

 

 

 

 

3

 

 

 

 

 

 

4 Itemized deductions (from Schedule M1SA) or your standard deduction (see instructions) . . . . . . . . . . . . . . . . 4.

5 Exemptions (determine from instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5. . . . . . . . . . . . . . . . .

6 State income tax refund from line 1 of federal Schedule 1 . . . . . . . . . . . . . . . 6 . . . . . . . . .

7Other subtractions from Minnesota income from line 47 of Schedule M1M

(see instructions; enclose Schedule M1M) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7. . . . . . . . . . . . . . . . .

8 Total subtractions. Add lines 4 through 7 . . . . . . . . . . . . . . . . . . . 8 . . . . . . . . . .

9Minnesota taxable income . Subtract line 8 from line 3. If zero or less, leave blank. . . . . . . . . . . . . . . . . . . . 9. . . . . . .

10

Tax from the table in the Form M1 instructions

. . . . . . . . . . . . . . . . . . . . . . . . . . . .10

11

Alternative minimum tax (enclose Schedule M1MT)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

9995

2020 M1, page 2

*201121*

 

12 Add lines 10 and 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12. . . . . . . . . . . . . . . . . . . . . . .

13Full-year residents: Enter the amount from line 12 on line 13. Skip lines 13a and 13b.

Part-year residents and nonresidents: From Schedule M1NR, enter the amount from line 32 on

line 13, from line 28 on line 13a, and from line 29 on line 13b (enclose Schedule M1NR)

13. . . .

13a

13b

 

14Other taxes, such as recapture amounts and the tax on lump-sum distributions (check appropriate boxes)

(a) Schedule M1HOME

(b) Schedule M1529

(c) Schedule M1LS

14

15 Tax before credits. Add lines 13 and 14

 

 

 

15

16Amount from line 17 of Schedule M1C, Nonrefundable Credits (enclose Schedule M1C) . . . . . . . . . . . . . . 16. . . . .

17 Subtract line 16 from line 15 (if result is zero or less, leave blank) . . . . . . . . . . . . . . . . . . . . . . . . . . 17. . . . . . . . . . .

18Nongame Wildlife Fund contribution (see instructions)

This will reduce your refund or increase the amount you owe

18

 

 

 

 

 

 

 

 

19 Add lines 17 and 18

. . 19. . . .

. . . . . . . . . . . . .

. . . . . .

20Minnesota income tax withheld. Complete and enclose Schedule M1W to report

 

Minnesota withholding from Forms W-2, 1099, and W-2G (do not send)

. . 20. .

21

Minnesota estimated tax and extension payments made for 2020

21

22

Amount from line 9 of Schedule M1REF, Refundable Credits (see instructions; enclose Schedule M1REF) . . .

. .22

23

Total payments. Add lines 20 through 22

. 23

24REFUND. If line 23 is more than line 19, subtract line 19 from line 23 (see instructions) .

For direct deposit, complete line 25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .24.

25 Direct deposit of your refund (you must use an account not associated with a foreign bank):

Checking

Savings

Account Number

Routing Number

26 AMOUNT YOU OWE. If line 19 is more than line 23, subtract line 23 from line 19 (see instructions) . . . . . . .26.

27Penalty amount from Schedule M15 (see instructions) . Also subtract

 

this amount from line 24 or add it to line 26 (enclose Schedule M15)

. . . 27

IF YOU PAY ESTIMATED TAX and want part of your refund credited to estimated tax, complete lines 28 and 29.

 

28

Amount from line 24 you want sent to you

. . . .28

29

Amount from line 24 you want applied to your 2021 estimated tax

. . . . . . . .

 

 

29

Taxpayer: I declare that this return is correct and complete to the best of my knowledge and belief.

Your Signature

Daytime Phone

Paid Preparer’s Signature

Preparer’s Daytime Phone

I do not want my paid preparer to file my return electronically.

Spouse’s Signature (If Filing Jointly)

Date (MM/DD/YYYY)

Email Address

 

Date (MM/DD/YYYY)

PTIN or VITA/TCE # (required)

Preparer’s Email Address

 

I authorize the Minnesota Department of Revenue to discuss this return

with my paid preparer or the third-party designee indicated on my federal return.

Include a copy of your 2020 federal return and schedules.

Mail to: Minnesota Individual Income Tax, St. Paul, MN 55145-0010

9995

How to Edit Form Tax M1 Online for Free

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It is straightforward to fill out the document with this helpful guide! Here's what you must do:

1. First, when filling out the 2020 form m1 instructions, begin with the section that contains the next blanks:

form m1 minnesota revenue conclusion process explained (part 1)

2. When the previous array of fields is finished, you're ready to add the required particulars in From Your Federal Return see, A Wages salaries tips etc, B IRA pensions and annuities, C Unemployment, D Federal taxable income, Federal adjusted gross income, Additions to income from line of, Add lines and, Itemized deductions from Schedule, Exemptions determine from, State income tax refund from line, Subtractions from line of, Total subtractions Add lines, Minnesota taxable income Subtract, and Tax from the table or schedules allowing you to move on to the next part.

Stage no. 2 for filling in form m1 minnesota revenue

Lots of people often make some mistakes when filling in Additions to income from line of in this part. You need to re-examine everything you type in right here.

3. The third part is usually simple - complete all the fields in Alternative minimum tax enclose, Partyear residents and, line from line on line a and, Other taxes such as recapture, a Schedule MHOME, b Schedule M, c Schedule MLS, Tax before credits Add lines, Amount from line of Schedule MC, Subtract line from line if, This will reduce your refund or, Add lines and, Minnesota withholding from Forms W, Minnesota estimated tax and, and Amount from line of Schedule in order to finish this process.

The right way to fill out form m1 minnesota revenue stage 3

4. This next section requires some additional information. Ensure you complete all the necessary fields - Amount from line of Schedule, For direct deposit complete line, Account Number, Routing Number, Checking, Savings, this amount from line or add it, AMOUNT YOU OWE If line is more, Your Signature, Daytime Phone, Paid Preparers Signature, Spouses Signature If Filing Jointly, Date MMDDYYYY, Email Address, and Date MMDDYYYY - to proceed further in your process!

Filling in segment 4 in form m1 minnesota revenue

5. The very last notch to conclude this form is pivotal. Make certain to fill in the mandatory blank fields, for instance Paid Preparers Signature, Preparers Daytime Phone, Date MMDDYYYY, PTIN or VITATCE required, Preparers Email Address, I do not want my paid preparer to, and I authorize the Minnesota, prior to submitting. Neglecting to accomplish that might contribute to a flawed and possibly unacceptable form!

form m1 minnesota revenue writing process shown (stage 5)

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