Railroad Track Maintenance Subtraction

To qualify, both of these must be true:

• You claimed a federal credit for railroad track maintenance expenses on federal Form 8900
• You were not allowed to deduct expenses on your federal income tax return due to claiming a federal railroad track maintenance credit

You may subtract from Minnesota taxable income any expenses you were not allowed to deduct on your federal income tax return due to claiming the federal railroad track maintenance credit.

Individuals must report the subtraction on Schedule M1MB, Business Income Additions and Subtractions, and include it when they file Form M1, Individual Income Tax.

Corporations must report the subtraction on Form M4, Corporation Franchise Tax.

Fiduciaries must report the subtraction on Form M2, Income Tax Return for Estates and Trusts.