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Does Schedule KPI have to be issued if there are no nonresident individual partners and no modifications or credits passed through to the partners?

April 26, 2017Credits individual issued kpi modifications nonresident partners schedule

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Does Schedule KPI have to be issued if there are no nonresident individual partners and no modifications or credits passed through to the partners?

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No. Schedule KPI is a supplemental schedule intended to give partners needed information for them to complete their Minnesota individual income tax returns. So, if there are no modifications or credits, you do not need to issue Schedule KPI to your individual partners who are Minnesota residents. Nonresident partners will need the information from the KPI to complete their M1.