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Where can I make an adjusting entry for the Potential Exemption from Municipal Bond Interest on Minnesota Form M1M, Line 1?

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Level 15

If your client has only one full year resident state return, it's very straight forward.

When you enter interest from muni, make sure you enter the MN muni bond interest on the line for In-state municipal bonds.  This is the amount that won't be subject to tax on M1; the difference is interest from other states' bonds that would flow through from M1M to M1.

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Accountants solve problems you didn’t know you had in ways you don’t understand.
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Thanks!  The reply was prompt, accurate, and exactly what I needed.

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Level 15

No problem, @westate1! if it solved you problem, please consider making this a solution for the benefit of others who have similar questions.  Cheers!

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Accountants solve problems you didn’t know you had in ways you don’t understand.
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