Supported Forms

The following Minnesota forms are supported in Drake Tax 2024. MN forms cannot be e-signed.

Form	Description	IND	CRP	SCRP	PTR	FID	e-File	Paper File
	Amended Income Tax Payment Voucher	t					P	P
	Individual Extension Payment Voucher	t					P	P
	Return Amended Payment Voucher		t	t	t	t	P	P
	Return Estimated Payment Voucher	t	t	t	t	t	P	P
	Return Payment Voucher	t	t	t	t	t	P	P
AWC	Alternative Withholding Certificate			t	t		P	P
BANK	Authorization of Direct Debit	t	t	t	t		P	P
CRP	Certificate of Rent Paid	t					P	P
DIV	Deduction for Dividends Received		t				P	P
EETP	Electronic Estimated Tax Payments / e-File Payment Voucher	t					P	P
EST	Additional Charge for Underpayment of Estimated Tax			t	t	t	P	P
ETP	Employer Transit Pass Credit	t	t	t	t	t	P	P
M1	Individual Income Tax	t					P	P
M15C	Additional Charge for Underpayment of Estimated Tax		t				P	P
M1PR	Homestead Credit Refund (for Homeowners) and Renter’s Property Tax Refund	t					P	P
M1PRX	Amended Homestead Credit Refund (for Homeowners) and Renter’s Property Tax Refund	t					r	P
M1X	Amended Minnesota Income Tax	t					r	P
M2	Income Tax Return for Estates and Trusts					t	P	P
M23	Claim for a Refund Due a Deceased Taxpayer	t					P	P
M2X	Amended Income Tax Return for Estates and Trusts					t	r	P
M3	Partnership Return				t		P	P
M3A	Apportionment and Minimum Fee				t		P	P
M3X	Amended Partnership Return				t		r	P
M4	Corporation Franchise Tax Return		t				P	P
M4A	Apportionment/Fee Calculation		t				P	P
M4I	Income Calculation		t				P	P
M4R	Minnesota Business Activity Report		t				P	P
M4T	Tax Calculation		t				P	P
M4X	Amended Corporation Franchise Tax Return		t				r	P
M8	S Corporation Return			t			P	P
M8A	Apportionment and Minimum Fee			t			P	P
M8X	Amended S Corporation Return			t			r	P
M99	Credit for Military Service in a Combat Zone	t					r	P
MN4562	Depreciation and Amortization	t	t	t	t		P	P
NOL	Net Operating Loss Deduction		t				P	P
RD	Credit for Increasing Research Activities		t				P	P
REV184b	Business Power of Attorney		t	t	t	t	r	P
REV184i	Individual or Sole Proprietor Power of Attorney	t					r	P
Schedule KF	Beneficiary’s Share of Minnesota Taxable Income	t				t	P	P
Schedule KPC	Partner’s Share of Income, Credits and Modifications	t		t			P	P
Schedule KPI	Partner’s Share of Income, Credits and Modifications	t			t		P	P
Schedule KS	Shareholder’s Share of Income, Credits and Modifications	t		t			P	P
Schedule M15	Underpayment of Estimated Income Tax	t					P	P
Schedule M1529	Education Savings Account Contribution Credit or Subtraction	t					P	P
Schedule M1AR	Accelerated Recognition of Installment Sale Gains	t					P	P
Schedule M1C	Nonrefundable Credits	t					P	P
Schedule M1CAT	Casualty and Theft	t					P	P
Schedule M1CD	Child and Dependent Care Credit	t					P	P
Schedule M1CMD	Credit for Attaining Master’s Degree in Teacher’s Licensure Field	t					P	P
Schedule M1CR	Credit for Income Tax Paid to Another State	t					P	P
Schedule M1DQC	Dependents and Qualifying Children	t					P	P
Schedule M1ED	K-12 Education Credit	t					P	P
Schedule M1HOME	First-Time Home Buyer Savings Account	t					P	P
Schedule M1LS	Tax on Lump-Sum Distributions	t					P	P
Schedule M1LTI	Long-Term Care Insurance Credit	t					P	P
Schedule M1M	Income Additions and Subtractions	t					P	P
Schedule M1MA	Marriage Credit	t					P	P
Schedule M1MB	Business Income Additions and Subtractions	t					P	P
Schedule M1MT	Alternative Minimum Tax	t					P	P
Schedule M1MTC	Alternate Minimum Tax Credit	t					P	P
Schedule M1NR	Nonresidents/Part-Year Residents	t					P	P
Schedule M1PSC	Credit for Parents of Stillborn Children	t					P	P
Schedule M1R	Age 65 or Older/Disabled Subtraction	t					P	P
Schedule M1RCR	Credit for Tax Paid to Wisconsin	t					P	P
Schedule M1REF	Refundable Credits	t					P	P
Schedule M1SA	Minnesota Itemized Deductions	t					P	P
Schedule M1SLC	Student Loan Credit	t					P	P
Schedule M1UE	Unreimbursed Employee Business Expenses	t					P	P
Schedule M1W	Minnesota Income Tax Withheld	t					P	P
Schedule M1WFC	Minnesota Working Family Credit	t					P	P
Schedule M2MT	Alternative Minimum Tax					t	P	P
Schedule M2NM	Non Minnesota Source Income and Related Expenses					t	P	P
Schedule M2SB	Income Tax Computation for S Portion of ESBT					t	P	P
Schedule PTE	Pass-through Entity Tax			t	t		P	P
Schedule PTE-RP	Pass-through Entity Tax for Resident Partners				t		P	P

New Forms

• Schedule M1QPEN, Qualified Public Pension Subtract

• Schedule M1PR-SR, Special Refund

• Schedule M1RENT, Renter’s Credit

• Schedule NIIT, Net Investment Income Tax

Modified Forms

Individual Income Tax Form Changes

• Form M1, Individual Income Tax Return

  • Added check box for Net Investment Income Tax (NIIT) on line 14

  • Added check box for NIIT filers only at the bottom of the form

  • Added check box for electing us to share information with MNsure to the bottom of the form

  • Removed the input line for Line B of the Certificate of Rent Paid and replaced with a check box on the M1

• Schedule M1C, Other Non-Refundable Credits

  • Added check box for entity level taxes paid to another state to the top of the schedule

  • Added new line 17 that combines carryover credits

  • Removed previous line 17

  • Removed line 18

  • Removed line 19 Schedule M1CR, Credit for Income Tax Paid to Another State

• Schedule M1CR, Credit for Income Tax Paid to Another State

  • Added check box for entity level taxes paid to another state to the top of the schedule

• Schedule M1CMD, Credit for Attaining Master’s Degree in Teacher’s Licensure Field

  • Added check box requesting information on pedagogy component in their program to the top of the schedule

  • Added check box to verify they had a license when they began and finished program to the top of the schedule

• Schedule M1CWFC, Minnesota Child and Working Family Credits

  • Added a write-in line between lines 21 and 22 to enter number of qualifying children who were under the age of 17

  • Added the following check boxes to the top of the schedule:

    • Married Filing Single eligibility

    • Electing to receive advance payments

  • Added the following lines

    • Line 17

    • Line 18

    • Line 19

    • Line 20

    • Line 21

    • Line 22

    • Line 23

    • Added lines for entering bank deposit information for receiving advance payments

• Schedule M1RCR, Credit for Tax Paid to Wisconsin

  • Added check box for entity level taxes paid to another state to the top of the schedule

• Schedule M1REF, Refundable Credits

  • Added line 4 for the Renter’s Credit, shifting all other lines down one

  • Added line 12 for Sustainable Aviation Fuel Credit

  • Added space to enter certificate number for Sustainable Aviation Fuel Credit on line 12

Property Tax Refund Form Changes

• Form M1PR, Homestead Credit Refund (for Homeowners)

  • Added line 6, additional nontaxable income, with table to enter type of income and amount

  • Moved check box for mobile homeowners to the top of the form

  • Moved line 14, co-occupant income, to line 5

  • Removed check box for renters, nursing homes, and homeowners from the top of the form

  • Removed lines 16-18, Renter’s Refund

  • Removed lines 26-38, Special Refund Lines, and moved to Schedule M1PR-S

Business Income tax Form Changes

• Form M3, Partnership Return

  • Updated Minimum Fee Table

• Form M4, Corporate Franchise Tax Return

  • Added line 6, Credit for Sustainable Aviation Fuel, and the certificate number from the Department of Agriculture

  • Added line 24 of the M4T for carryover credits from prior years including D - Name of Credit, E - Certificate Number, F - Unused Credit, and G - MNID

  • Changed line 4m to the M4I from: Disallowed section 280E expenses of a licensed cannabis business, to: Disallowed section 280E expenses of a licensed cannabis or hemp business

  • Line numbers have shifted for Lines 6-19 to accommodate the addition of line 6

  • Reorganized lines 14 through 23 of the M4T

  • Updated subtraction for qualified railroad track maintenance credit instructions for line 4c of the M4I.

  • Updated Minimum Fee Table on Form M4A

• Form M4X, Amended Franchise Tax Return/Claim for Refund

  • Added line 26 for carryover credits from prior years and to include D - Name of Credit, E - Certificate Number, and F - Unused Credit

  • Added line 32, Credit for Sustainable Aviation Fuel, and the certificate number from the Department of Agriculture

  • Line numbers have shifted for lines 27-31 to accommodate the addition of line 26

  • Line numbers have shifted for lines 33-45 to accommodate the addition of lines 26 and 32

  • Reorganized lines 15 through 25

  • Updated line 4m of Amended Income Calculation from: Disallowed section 280E expenses of a licensed cannabis business, to: Disallowed section 280E expenses of a licensed cannabis or hemp business

• Form M8, S Corporation Return

  • Updated Minimum Fee Table on Form M8A

• Schedule KPC, Partner’s Share of Income, Credits and Modifications

  • Added line 23 to Partner's pro rata share of a net gain relating to dispositions of Class 2a property

  • Added line 24 to Partner's pro rata share of deductions and modifications relating to line 21

  • Added line 31, Credit for Sustainable Aviation Fuel, and the certificate number from the Department of Agriculture

  • Updated line 19 from: Disallowed section 280E expenses of a licensed cannabis business, to: Disallowed section 280E expenses of a licensed cannabis or hemp business

• Schedule KS, Shareholder’s Share of Income, Credits and Modifications

  • Added line 21 for Shareholder's pro rata share of a net gain relating to dispositions of Class 2a property

  • Added line 22 for Shareholder's pro rata share of deductions and modifications relating to line 21

  • Added line 29, Credit for Sustainable Aviation Fuel, and the certificate number from the Department of Agriculture

  • Updated line 16 from: Disallowed section 280E expenses of a licensed cannabis business, to: Disallowed section 280E expenses of a licensed cannabis or hemp business

• Schedule NOL, Net Operating Loss Deduction

  • Updated net operating loss (NOL) limitation in instructions of Schedule NOL

Fiduciary Income Tax Form Changes

• Form M2, Income Tax Return for Estates and Trusts

  • Added line 12, Minnesota Net Investment Income Tax, and must enclose Schedule NIIT

  • Added line 24, Carryover credits from prior years including D – Name of Credit, E – Certificate Number, and F – Unused Credit

  • Added line 31, Credit for Sustainable Aviation Fuel, and the certificate number from the Department of Agriculture

  • Changed line 65 from: Disallowed section 280E expenses of a licensed cannabis business, to: Disallowed section 280E expenses of a licensed cannabis or hemp business

  • Removed line 18, unused credit for owners of agricultural assets from a prior year

  • Removed line 50, This line intentionally left blank

  • Updated subtraction for railroad maintenance expenses instructions for line 62.

• Schedule M2MT, Alternative Minimum Tax

  • Added Instruction Calculation Changes to line 3

  • Added Instruction Calculation Changes to line 6

  • Updated line 7 from: If line 7, column A is $43,990 or less, stop here, to: If line 7, column A is $46,360 or less, stop here.

• Schedule M2NM, Non-Minnesota Source Income

  • Added line 12, Section 199A Qualified Business Income Addition

  • Added line 23, Estate Tax Deduction

  • Added line 24, Qualified Business Income Deduction

  • Added line 25, Exemption

• Schedule KF, Beneficiary’s Share of Minnesota Taxable Income

  • Added line 30, Beneficiary's pro rata share of a net gain relating to dispositions of Class 2a property

  • Added line 31, Beneficiary's pro rata share of deductions and modifications relating to Line 30

  • Added line 39, Carryover credits from prior years including D - Name of Credit, E - Certificate Number, F - Unused Credit, and G - Remaining Years

  • Added line 40, Credit for Sustainable Aviation Fuel, and the certificate number from the Department of Agriculture

  • Changed line 23 from: Disallowed section 280E expenses of a licensed cannabis business, to: Disallowed section 280E expenses of a licensed cannabis or hemp business

• Schedule M2SB, Income Tax Computation for S Portion of ESBT

  • Changed line 35 from: Disallowed section 280E expenses of a licensed cannabis business, to: Disallowed section 280E expenses of a licensed cannabis or hemp business

• Form M2X, Amended Income Tax Return for Estates and Trusts

  • Added line 12, Minnesota Net Investment Income Tax, and must enclose Schedule NIIT

  • Added line 24, Carryover credits from prior years including D - Name of Credit, E - Certificate Number, and F - Unused Credit

  • Added line 31, Credit for Sustainable Aviation Fuel, and the certificate number from the Department of Agriculture

  • Changed line 66 from: Disallowed section 280E expenses of a licensed cannabis business, to: Disallowed section 280E expenses of a licensed cannabis or hemp business

  • Removed line 18, Unused credit for owners of agricultural assets from a prior year

  • Removed line 51, This line intentionally left blank

Obsolete Form

Schedule M1PR-AI, Additions to Income

Tax Law Changes

Individual Package

• Advance Payment of Child Tax Credit – Beginning with tax year 2024, taxpayers may make an election to receive advance payments of their 2025 Child Tax Credit. The taxpayer must be eligible for a child tax credit in 2024 to receive advance payments for 2025.

• Authorization to share information with MNsure - When filing your individual income tax return, you may elect to authorize the Minnesota Department of Revenue to share necessary return information with MNsure for the purpose of contacting you with information about estimated eligibility for free or reduced-cost health insurance.

  The information that will be shared includes:

  • Name and spouse’s name if filing a joint return

  • Number of people in the household

  • Dependent’s date of birth

  • Address Adjusted gross income

  • Email

  • Telephone number

  • County of residence

• CRP System Update for Landlords – All residential property owners and managers can now use e-Services to create and manage Certificates of Rent Paid (CRPs) for Minnesota properties. There is no cost to use this service. For more information, visit the www.revenue.state.mn.us.

• Dependent Exemptions – The dependent exemption amount is now $5,050 for each qualifying dependent. The taxpayer’s total exemption amount is reduced if their income exceeds the following thresholds:

  • Single – $232,550

  • Married Filing Separately – $174,425

  • Married Filing Jointly or Qualifying Surviving Spouse – $348,850

  • Head of Household – $290,700

• Itemized Deductions - Minnesota itemized deductions are reported on Schedule M1SA, Minnesota Itemized Deductions. For more information, see page 12. You may itemize deductions on your Minnesota income tax return even if you claimed the standard deduction on your federal income tax return. Your itemized deductions are reduced if your adjusted gross income exceeds $232,500 ($116,250 if you are married and filing a separate return). If your adjusted gross income exceeds $1,053,750, you are limited to 20% of your itemized deductions

• Net Investment Income Tax – Beginning with tax year 2024, individuals with net investment income greater than $1,000,000 must file Schedule NIIT, Net Investment Income Tax, with Form M1. Net investment income includes, but is not limited to, interest, dividends, capital gains, rental and royalty income, and non-qualified annuities. It does not include net gains attributable to dispositions of property classified as class 2a agricultural land. Any partner or shareholder electing composite income tax or Pass-Through Entity (PTE) tax to satisfy their filing requirement must file Schedule NIIT with Form M1. In these situations, the Form M1 will only report the net investment income tax due on line 14 and will not report any other tax lines or tax benefits. The composite income tax or PTE tax can still satisfy the partner’s or shareholder’s tax for the distributive share of the entity’s business income.

• Renter’s Credit – Beginning with rent paid in tax year 2024, renters can claim a credit by completing Schedule M1RENT, Renter’s Credit with their Minnesota Individual Income Tax Return. Renters should not complete Form M1PR, Homestead Credit Refund to claim their Renter’s Credit.

• Standard Deductions:

  • $14,575 for Single or Married Filing Separately

  • $29,150 for Married Filing Jointly or Qualifying Surviving Spouse

  • $21,900 for Head of Household

  The standard deduction is reduced by up to 80% if your adjusted gross income exceeds $232,500 ($116,250 if you are married and filling a separate return). If your adjusted gross income is equal to or more than $1,053,750, your standard deduction is reduced by 80%.

Fiduciary Package

• The credit for Sustainable Aviation Fuel has been added for tax year 2024.

• The Minnesota Net Investment Income Tax imposed on individuals, estates, and trusts with more than $1,000,000 of net investment income in the tax year has been added for tax year 2024.

Corporation, S Corporation, and Partnership Packages

• Minimum Fee – Partnerships and S corporations are subject to a minimum fee if the sum of its Minnesota source property, payroll, and sales or receipts is at least $1,220,000 (previously $1,160,000).

  • Partnerships are exempt from the minimum fee if more than 80% of the income is from farming.

  • S corporations that file as QSSS federally should include all factors under one parent company and are subject to only one minimum fee at the parent company level.

• The credit for Sustainable Aviation Fuel has been added for tax year 2024.

• The Minnesota Tax Bill signed into law on April 8, 2024, retroactively changed the effective date for the 70% Net Operating Loss deduction limitation.