M2MT: Alternative Minimum Tax (2025)
Minnesota · Minnesota DOR · Used for tax years 2025
Minnesota Schedule M2MT calculates alternative minimum tax for estates and trusts for 2025. It reports federal alternative minimum taxable income, Minnesota adjustments, the amount allocated to Minnesota, and any resulting alternative minimum tax.
Who files this form
For tax year 2025, an estate or trust must complete Schedule M2MT and include it with Minnesota Form M2 if either:
- It was required to complete federal Schedule I, Alternative Minimum Tax.
- The income on Schedule M2MT, line 5, column A, is more than $47,660.
What you'll need
- Minnesota Form M2: You will use amounts from this return to complete Schedule M2MT.
- Federal Schedule I: Line 27 supplies the starting amount for Schedule M2MT, line 1, column A. Include a copy of federal Schedule I when filing Form M2.
- Income, deduction, and loss details: You need the total amounts allocated to the fiduciary and the portions from Minnesota sources for lines 1 through 6.
- For the S Portion of an Electing Small Business Trust (ESBT): Use Schedule M2SB and the federal alternative minimum taxable income computation for that portion. Include the federal computation when filing Form M2 and Schedules M2SB and M2MT.
How to file
Include Schedule M2MT and a copy of federal Schedule I when you file Minnesota Form M2.
Enter the result from Schedule M2MT, line 18, on Form M2, line 13, and check the M2MT box. If the line 18 result is zero or less, leave it blank.
If you are completing the schedule for the S Portion of an ESBT, check the box at the top of Schedule M2MT and follow the alternate instructions. Enter the line 18 result on Schedule M2SB, line 10, instead.
The supplied text does not state a mailing address or provide mail or e-file instructions.
Common mistakes
- Do not continue past line 7 if column A is $47,660 or less. Stop and skip the rest of the schedule, but still include it with Form M2.
- Do not leave out required attachments. Include Schedule M2MT and a copy of federal Schedule I with Form M2.
- Use the required rounding. Round dollar amounts to the nearest whole dollar and the line 8 ratio to five decimal places.
- Leave the specified lines blank when required. On lines 11, 13, and 18, leave the result blank if it is zero or less.
- For an ESBT's S Portion, use the alternate instructions. Check the box at the top of the schedule and include the federal computation.
Questions people ask
What goes in columns A and B?
For lines 1 through 6, enter the total amounts allocated to the fiduciary in column A. In column B, enter the portion of column A that is income from Minnesota sources.
What happens if line 7, column A, is $47,660 or less?
Stop there and skip the rest of Schedule M2MT. You must still include the schedule with Form M2.
What exemption amounts appear on the 2025 schedule?
Line 9 shows a maximum exemption of $47,660. Line 10 shows a $75,000 base income amount used to limit or reduce the exemption.
How is the alternative minimum tax calculated near the end of the schedule?
Line 16 multiplies line 15 by 6.75%. Line 18 subtracts the tax on line 17 from line 16. If the result is zero or less, leave line 18 blank.
Are there special instructions for an Electing Small Business Trust?
Yes. When calculating Minnesota AMT for an ESBT's S Portion, check the box at the top of Schedule M2MT and use the alternate instructions for lines 1, 3, 6, 17, and 18. The line 18 result goes on Schedule M2SB, line 10.