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Last Updated: 10/13/2017

Accelerated recognition of certain installment sale gains

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Individual Income Tax

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Beginning in tax year 2017, taxpayers must accelerate recognition of their gains from an installment sale of any interest in, or assets of, a pass through entity if they are a nonresident at the time of sale, or become a nonresident during the period they receive installments.

How do I report this?

Individuals will choose to accelerate or elect to defer their gains when completing Schedule M1AR, Accelerated Recognition of Installment Sale Gains, with their Minnesota individual income tax return. Individuals can elect to defer their gains and report their income using the installment method if they file a Minnesota return each year and include the necessary supporting federal information.

Are there any exceptions?

Full-year Minnesota residents are not required to complete this schedule.

Where can I find more information?

For more information, see Minnesota Statutes, section 290.0137.