Lump-sum distribution
I received a lump sum distribution, do I have to pay additional Minnesota taxes on this?
Tax on Lump-Sum Distribution (Schedule M1LS)
You must file Schedule M1LS, Tax on Lump-Sum Distribution, if all of the following apply:
• You received lump-sum distribution from a pension, profit-sharing, or stock bonus plan in 2020
• You were a Minnesota resident when you received any portion of the lump-sum distribution
• You filed federal Form 4972
If you complete Schedule M1LS, include the schedule and Form 4972 when you file your Form M1.
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