M2X: Amended Income Tax Return for Estates and Trusts (2024)

Minnesota · Minnesota DOR · Used for tax years 2024

Minnesota Form M2X is the 2024 amended income tax return for estates and trusts. It reports previously reported amounts, net changes, and corrected amounts for income, tax, credits, and payments to determine the amount due or refund.

Who files this form

Fiduciaries use Form M2X to correct an original 2024 Minnesota Form M2 for an estate or trust, report changes to Minnesota tax liability, or claim a refund.

You must file an amended Minnesota return if an IRS change or audit, or an amendment to your federal return, affects your Minnesota return or distributions to beneficiaries.

If federal changes do not affect your Minnesota return or Schedules K-1, the instructions instead require a letter of explanation and a copy of the amended federal return or IRS correction notice.

When it's due

For the 2024 return, the instructions give these filing periods:

  • File Form M2X only after filing your original return.
  • You may file within 3½ years after the return was due, or within one year from the date of an order assessing tax, whichever is later.
  • If you filed under an extension by the extended due date, you have up to 3½ years from the extended due date.
  • Report federal changes within 180 days. This applies to an amended Minnesota return when required, or to the explanation letter and federal documents when the changes do not affect your Minnesota return or Schedules K-1.

The amount owed on line 37 is due when you file the amended return. The instructions warn that a penalty will be assessed if additional tax and interest are not paid with it.

What you'll need

Have these records available, as applicable:

  • Your original 2024 Form M2, any previously filed 2024 Forms M2X, and audit reports or notices of change.
  • Federal Form 1041. For an amendment based on an IRS adjustment, attach the amended federal return or IRS correction notice.
  • The estate or trust's identification information, fiduciary information, and beneficiary information requested on the form.
  • A detailed explanation of each change, plus schedules, statements, or forms that verify corrected amounts.
  • Required supporting schedules, such as Schedule M2NM for lines 2 and 7, Schedule NIIT for line 12, and Schedules KF for composite income tax on line 14.
  • Withholding documentation for line 28 and applicable credit schedules or certificates.
  • Routing and account numbers if requesting direct deposit.

How to file

  1. Enter previously reported amounts in column A, each increase or decrease in column B, and corrected amounts in column C. Show decreases in parentheses. If an amount has not changed, copy column A into column C.
  2. Check the reason you are amending. Explain each change in detail on page 3, using a separate sheet if needed, and attach supporting documents.
  3. Have the fiduciary or authorized officer sign and include their ID number. If someone other than the fiduciary prepared the return, the preparer must also sign and include their ID and phone number.
  4. Mail the return to:

Minnesota Amended Fiduciary Tax

Mail Station 1310

600 N. Robert St.

St. Paul, MN 55146-1310

Payment: Pay electronically through e-Services at www.revenue.state.mn.us using an account not associated with foreign banks. To pay by check, select Make a Payment, then Check or Money Order on that website to create a voucher. Print and mail it with a check payable to Minnesota Department of Revenue.

Federal changes that do not affect your Minnesota return or Schedules K-1: Send the required explanation letter and federal documents to Minnesota Fiduciary Tax, Mail Station 5140, 600 N. Robert St., St. Paul, MN 55146-5140.

Common mistakes

  • Missing signatures or identification numbers. The fiduciary or authorized officer must sign and provide an ID number. A separate preparer must also sign and provide their ID and phone number.
  • Not rounding to whole dollars. Drop amounts under 50 cents and round amounts of 50 cents or more up to the next dollar.
  • Leaving out explanations or supporting documents. Explain each change in detail and attach the schedules, statements, or forms needed to verify it.
  • Including the wrong amounts on lines 33 and 35. Do not include penalty, interest, or underpayment-of-estimated-tax amounts on line 33. Do not include refund interest on line 35.
  • Treating the amendment as a complete balance statement. If your original Form M2 has unpaid tax, Form M2X is not intended to show your corrected balance due.
  • Using estimated tax funds for the amendment. You cannot use your estimated tax account to pay line 37, and the refund cannot be applied to that account.
  • Reporting federal changes late. Failure to report within the required 180 days can result in a penalty.

Questions people ask

Can I use Form M2X to claim a refund?

Yes. Form M2X can be used to claim a refund and report changes to Minnesota tax liability.

Can my refund be directly deposited?

Yes. Complete line 43 with your checking or savings account information. Use an account not associated with foreign banks. If you leave line 43 blank, you will receive a check. Incorrect or unaccepted bank information also results in a paper check.

Do I need to give beneficiaries corrected information?

If you enter corrected amounts in column C of lines 44 through 74, you may need to notify beneficiaries of income adjustments. Report corrected information on a new Schedule KF and check the “Amended KF” box.

What if I amended my 2024 federal return solely because of H.R. 1?

The instructions say the Minnesota nonconformity adjustment will offset the federal taxable income changes. Write “H.R. 1” in red at the top of the amended return and amended Schedules KF issued to beneficiaries. See the Schedule M2NC instructions for details.

Where can I get help?

Forms and information are available at www.revenue.state.mn.us. For help completing the amended return, call 651-556-3075.

Official sources

All versions of M2X