TaxFormFinder
Minnesota Income Tax Return for Estates and Trusts
Tax season is open, and returns are due on April 16th! Save by eFiling early with TurboTax start now
Extracted from PDF file 2024-minnesota-form-m2.pdf, last modified October 2021Income Tax Return for Estates and Trusts
*242011* 2024 Form M2, Income Tax Return for Estates and Trusts Tax year beginning (MM/DD/YYYY) / , ending (MM/DD/YYYY) / Name of Estate or Trust / Do not use staples on anything you submit. / Federal ID Number Minnesota ID Number Decedent’s Social Security Number Date of Death Current address of fiduciary Fiduciary City Fiduciary State Decedent’s last address or grantor’s address when trust became irrevocable Decedent or Grantor City Decedent or Grantor State Decedent or Grantor ZIP Name and title of fiduciary Check if name has changed: Check if address has changed: / / Number of Schedules KF Number of Beneficiaries Fiduciary ZIP Code Check all that apply: Initial Return Final Return Section 645 Election Grantor Trust Statutory Resident ESBT Irrevocable Trust — Date trust became irrevocable Statutory Nonresident QSST Decedent’s Estate — Gross value of estate Due Process Nonresident (see Schedule M2RT) Trust/Estate Owns or Operates a Business — Form M706 Filed Composite Income Tax FEIN Bankruptcy Estate — Installment sale of passthrough assets or interests Tax Position Disclosure (enclose Form TPD) Debtor Social Security Number (SSN) If filing jointly, second debtor SSN 1 Federal taxable income (from line 23 of federal Form 1041) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 Fiduciary’s deductions and losses not allowed by Minnesota (enclose Schedule M2NM) . . . . . . . . . . . . . . . . . . . . . . . 2 3 Capital gain amount of lump-sum distribution (enclose federal Form 4972) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Additions (from line 75, column E, on page 5 of this form) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Add lines 1 through 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 6 Subtractions (from line 75, column E, on page 5 of this form) . . . . . . . . . . . . . . . . . . . . 6 7 Fiduciary’s income from non-Minnesota sources (enclose Schedule M2NM) . . . . . . . . 7 8 Add lines 6 and 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 9 Minnesota taxable net income. Subtract line 8 from line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 10 Tax from table in Form M2 instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 0 11 Tax from S portion of an Electing Small Business Trust (enclose Schedule M2SB) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 1 12 Minnesota Net Investment Income Tax (enclose Schedule NIIT) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 13 Total of tax from (enclose appropriate schedules): a. Schedule M1LS b. Schedule M2MT . . . . . . . . 1 3 14 Composite income tax for nonresident beneficiaries (enclose Schedules KF) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 4 9995 2024 M2, page 2 *242021* 15 Total 2024 income tax. Add lines 10 through 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 5 1 6 Credit for taxes paid to another state . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 6 17 Film Production Tax Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 7 Enter the credit certificate number: TAXC 18 Tax Credit for Owners of Agricultural Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 8 Enter certificate number from the Rural Finance Authority: AO 19 State Housing Tax Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 9 Enter certificate number from Minnesota Housing: SHTC 20 Short Line Railroad Infrastructure Modernization Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 0 21 Credit for Sales of Manufactured Home Parks to Cooperatives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 1 22 Credit for increasing research activities (enclose Schedule KPI, KS, or KF) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 2 23 Other nonrefundable credits (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 24 Carryover credits from prior years (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 D — Name of Credit E — Certificate Number F — Unused Credit d1 e1 f1 d2 e2 f2 d3 e3 f3 25 Total nonrefundable credits. Add lines 16 through 24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 5 26 Subtract line 25 from line 15 (if result is zero or less, leave blank) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 6 27 Pass-Through Entity Tax Credit (enclose Schedule KPI, KS, or KF) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 7 28 Minnesota income tax withheld (enclose documentation) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 8 29 Total estimated tax payments and extension payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 9 30 Credit for Historic Structure Rehabilitation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 0 Enter National Park Service (NPS) project number: 31 Credit for sustainable aviation fuel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 1 Enter certificate number from the Department of Agriculture 32 Other refundable credits (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 2 33 Add lines 27 through 32 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 3 34 Tax due. If line 26 is more than line 33, subtract line 33 from line 26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 (continued) 9995 2024 M2, page 3 *242031* 35 Penalty (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 5 36 Interest (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 37 Trusts only: Additional charge for underpaying estimated tax (enclose Schedule EST) . . . . . . . . . . . . . . . . . . . . . . 3 7 38 AMOUNT DUE. If you entered an amount on line 34, add lines 34 through 37. Check payment method: check electronic (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 8 39 Overpayment. If line 33 is more than the sum of lines 26 and 35 through 37, subtract lines 26 and 35 through 37 from line 33 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 9 40 If you are paying estimated tax for 2025, enter the amount from line 39 you want applied to it, if any . . . . . . . . 4 0 41 REFUND. Subtract line 40 from line 39 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 1 42 To have your refund direct deposited, enter the following. Otherwise, you will receive a check. Checking Savings Routing number Account number (use an account not associated with any foreign banks) Signature of Fiduciary or Officer Representing Fiduciary Minnesota Tax ID or Social Security Number Print Name of Contact E-mail Address for Correspondence, if Desired Paid Preparer’s Signature Preparer’s PTIN / / Date (MM/DD/YYYY) Fiduciary E-mail / / Date (MM/DD/YYYY) I authorize the Minnesota Department of Revenue to discuss this tax return with the preparer. I do not want my paid preparer to file my return electronically. Enclose a copy of federal Form 1041, Schedules K-1, and other federal schedules. Mail to: Minnesota Fiduciary Income Tax Mail Station 1310 600 N. Robert St. St. Paul, MN 55146-1310 9995 Direct Phone Paid Preparer E-mail Direct Phone 2024 M2, page 4 *242041* Additions to Income 43 State and municipal bond interest from outside Minnesota . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43 44 State taxes deducted in arriving at net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45 Expenses deducted on your federal return that are attributable to income not taxed by Minnesota (other than interest or mutual fund dividends from U.S. bonds) . . . . . . . . . . . . . . . . . . . . . . 46 80 percent of the suspended loss from 2001–2005 or 2008–2023 on your federal return that was generated by bonus depreciation (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . 44 45 47 80 percent of federal bonus depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47 48 Section 199A qualified business income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48 49 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49 50 Net operating loss (NOL) carryover adjustment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50 51 Foreign-derived intangible income (FDII) deduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51 52 Other additions (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52 53 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53 54 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54 55 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55 56 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56 57 Add lines 43 through 56. Enter the result here and on line 76, column E, under Additions . . . . . . . . . . . . 57 46 Subtractions from Income 58 Interest on U.S. government bond obligations, minus any expenses deducted on your federal return that are attributable to this income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58 59 State income tax refund included on federal return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59 60 Federal bonus depreciation subtraction (see instructions,) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60 61 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61 62 Subtraction for railroad maintenance expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62 63 Net operating loss carryover adjustment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63 64 Deferred foreign income (Section 965) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64 65 Disallowed section 280E expenses of a licensed cannabis or hemp business . . . . . . . . . . . . . . . . . . . . . . . . 65 66 Delayed business interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66 67 Delayed net operating loss deduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67 9995 (continued) 2024 M2, page 5 *242051* 68 Other subtractions (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68 69 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 69 70 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70 71 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71 72 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72 73 Add lines 58 through 72. Enter the result here and on line 76, column E, under Subtractions . . . . . . . . . . 73 Allocation of Adjustments Between Fiduciary and Beneficiaries (see instructions) A Name of each beneficiary B Beneficiary’s Social Security number C Share of federal distributable net income 74 D Percent of total on line 76, column C % % % % % % % 75 Fiduciary 76 Total % 100% Enclose separate sheet, if needed. 9995 E Shares assignable to beneficiary and to fiduciary Additions Subtractions
2024 M2, Income Tax Return for Estates and Trusts (Fiduciaries)
More about the Minnesota Form M2 Estate Tax Tax Return TY 2024
We last updated the Income Tax Return for Estates and Trusts in February 2025, so this is the latest version of Form M2, fully updated for tax year 2024. You can download or print current or past-year PDFs of Form M2 directly from TaxFormFinder. You can print other Minnesota tax forms here.
eFile your Minnesota tax return now 
eFiling is easier, faster, and safer than filling out paper tax forms. File your Minnesota and Federal tax returns online with TurboTax in minutes. FREE for simple returns, with discounts available for TaxFormFinder users!
File Now with TurboTaxRelated Minnesota Estate Tax Forms:
TaxFormFinder has an additional 95 Minnesota income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Minnesota Form M2.
| Form Code | Form Name |
|---|---|
| Form M22 | Request for Early Audit of Income Tax Return(s) (Revised 7/17) |
| Form M23 | Claim for Tax Refund Due a Deceased Taxpayer |
| Form M2MT | Alternative Minimum Tax |
| Form M2NC | Federal Adjustments (Estates and Trusts) |
| Form M2RT | Resident Trust Questionnaire |
| Form M2SB | Income Tax Computation for S Portion of ESBT |
| Form M2SBNC | Federal Adjustments (Trust) |
| Form M2X | Amended Income Tax Return for Estates and Trusts |
View all 96 Minnesota Income Tax Forms
Form Sources:
Minnesota usually releases forms for the current tax year between January and April. We last updated Minnesota Form M2 from the Department of Revenue in February 2025.
Form M2 is a Minnesota Estate Tax form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.
About the Estate Tax
The IRS, and many states, impose an estate tax on the transfer of cash and property between a decedent and their beneficiaries. These taxes generally only apply to estates over a certain size threshold, generally several million dollars, and therefore only affects the largest few percent of estates in the United States.
Historical Past-Year Versions of Minnesota Form M2
We have a total of fourteen past-year versions of Form M2 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2024 Form M2
2024 M2, Income Tax Return for Estates and Trusts (Fiduciaries)
2023 Form M2
2023 M2, Income Tax Return for Estates and Trusts (Fiduciaries)
2022 Form M2
2022 M2, Income Tax Return for Estates and Trusts (Fiduciaries)
2021 Form M2
2021 M2, Income Tax Return for Estates and Trusts (Fiduciaries)
2020 Form M2
2019 M2, Income Tax Return for Estates and Trusts (Fiduciaries)
2019 Form M2
2019 M2, Income Tax Return for Estates and Trusts (Fiduciaries)
2018 Form M2
2018 M2, Income Tax Return for Estates and Trusts (Fiduciaries)
2017 Form M2
2011 M2, Income Tax Return for Estates and Trusts (Fiduciaries)
2016 Form M2
2016 M2, Income Tax Return for Estates and Trusts (Fiduciaries)
2015 Form M2
2011 M2, Income Tax Return for Estates and Trusts (Fiduciaries)
2014 Form M2
2011 M2, Income Tax Return for Estates and Trusts (Fiduciaries)
2013 Form M2
2011 M2, Income Tax Return for Estates and Trusts (Fiduciaries)
2012 Form M2
2011 M2, Income Tax Return for Estates and Trusts (Fiduciaries)
2011 Form M2
2008 M2, Income Tax Return for Estates and Trusts (Fiduciaries)
TaxFormFinder Disclaimer:
While we do our best to keep our list of Minnesota Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.