I would like to see an option to enter and override amount for Line 5 of the M1PR for the 2021 Lacerte Program. As of now the federal net operating loss (or a portion of it) is being added back twice for this line, which seems to follow the instructions. I have had conversations with the Minnesota Department of Revenue and received a reply in writing that this was not the intention and that there should not be the double addback. They are working on changing the instructions for future years, but will not the 2021 instructions.
My instructions from Revenue state "If your client included their NOL and has a positive value on line 35 of Schedule M1NC, please disregard the instruction to addback NOL carryforward/carryback to the extent they reduced the federal adjusted gross income (FAGI) on Form M1PR instructions. Only addback the positive amount on line 35 of Schedule M1NC."
If an override for the line 5 total was in the program, a PDF of Schedule M1PR-AI, additions to income, could be attached to the M1PR and the forms would still be able to be electronically filed. As of now, the only option is to manually prepare and file the forms.
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