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MN is nonconforming to Fed Tax Reform. When will MN program be working to remove the like-kind income that is recognized on the federal return?

Annabelle
Level 2
 
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IRonMaN
Level 15

I'm guessing that is going to have to be a manual adjustment.


Slava Ukraini!

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3 Comments 3
IRonMaN
Level 15

I'm guessing that is going to have to be a manual adjustment.


Slava Ukraini!
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Annabelle
Level 2
Must I force a 2018 MN Schedule LK, Like-Kind Exchange?
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IRonMaN
Level 15
I haven't looked at one yet, but supposedly schedule LK is the correct form to use.  As a side note, I think a lot of MN preparers are going to treat the state the same as the federal if the overall bottom line comes out about the same for the year.  Minnesota's non-conformity is going to create a lot of sleepless nights for MN preparers this year.

Slava Ukraini!
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