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Rhode Island Schedule M - Rhode Island Modifications to Federal AGI
Extracted from PDF file 2023-rhode-island-schedule-m.pdf, last modified April 2012Schedule M - Rhode Island Modifications to Federal AGI
State of Rhode Island Division of Taxation 2023 RI Schedule M - page 1 23100999990101 RI Modifications to Federal AGI Name Social security number NOTE: For each modification being claimed you must enter the modification amount on the corresponding modification line and attach documentation supporting your modification. Otherwise, the processing of your return may be delayed. Refer to the instructions for more information on each modification. If a modification is not listed below, it is not valid and, therefore, not allowable. MODIFICATIONS DECREASING FEDERAL AGI 1a Income from obligations of the US government included in Federal AGI but exempt from state income taxes reduced by investment interest on the obligations taken as a federal itemized deduction................................... 1a b Rhode Island fiduciary adjustment as beneficiary of an estate or trust under RIGL §44-30-17..................... 1b c Elective deduction for new research and development facilities under RIGL §44-32-1................................. 1c d Railroad Retirement benefits paid by the Railroad Retirement Board............................................................ 1d e Qualifying investment in a certified venture capital partnership under RIGL §44-43-2.................................. 1e f Family Education Accounts under RIGL §44-30-25....................................................................................... 1f g Tuition Saving Program contributions (section 529 accounts) under RIGL §44-30-12. Not to exceed $500 ($1,000 if joint return)..................................................................................................... 1g h Exemptions from tax on profit or gain for writers, composers and artists under RIGL §44-30-1.1................. 1h i Bonus depreciation taken on the Federal return that has not yet been subtracted from Rhode Island income under RIGL §44-61-1......................................................................................................................... 1i j Section 179 depreciation taken on the Federal return that has not yet been subtracted from Rhode Island under RIGL §44-61-1.1.................................................................................................................................. 1j k Modification for performance based compensation realized by an eligible employee under the Jobs Growth Act under RIGL §42-64.11-4.............................................................................................................. 1k l Modification for exclusion for qualifying option under RIGL §44-39.3 AND modification for exclusion for qualifying securities or investment under RIGL §44-43-8.............................................................................................. 1l m Modification for Tax Incentives for Employers under RIGL §44-55-4.1.......................................................... 1m n Tax Credit income reported on Federal return exempt for Rhode Island purposes (see instructions for eligible credits)................................................................................................................................................................... 1n o Active duty military pay of Nonresidents stationed in Rhode Island and income for services performed in 1o Rhode Island by the servicemember’s spouse............................................................................................... p Scituate Medical Savings Account contributions taxable on the Federal Return but exempt from Rhode Island under RIGL §44-30-25.1(d)(3)(i).................................................................................................................................. 1p q Amounts of insurance benefits for dependents and domestic partners included in Federal AGI pursuant to chapter 12 of title 36 or other coverage plan under RIGL §44-30-12(c)(6)................................................... 1q r Modification for Organ Transplantation for specific unreimbursed expenses incurred by Rhode Island 1r Resident pursuant to RIGL §44-30-12(c)(7).................................................................................................. s Modification for taxable Social Security Primary Date of Birth income under RIGL §44-30-12(c)(8) (Required) / / Primary Modification for taxable Retirement income from certain pension plans or an- Date of Birth nuities under RIGL §44-30-12(c)(9) (Required) / / t Spouse Date of Birth (Required) Spouse Date of Birth (Required) / / 1s / / 1t u CASH BASIS ONLY - Deduction for Pass-Through Entity Tax claimed in Prior Year (See Instructions)............... 1u v Modification for taxpayers receiving military service pensions under RIGL §44-30-12(c)(11)............................ 1v w Total modifications DECREASING Federal AGI. Add lines 1a through 1v and enter as a negative amount......... 1w Revised 05/2023 State of Rhode Island Division of Taxation 2023 RI Schedule M - page 2 RI Modifications to Federal AGI 23100999990102 Name Social security number NOTE: For each modification being claimed you must enter the modification amount on the corresponding modification line and attach documentation supporting your modification. Otherwise, the processing of your return may be delayed. Refer to the instructions for RI Schedule M for more detailed information on each of the modifications listed below. If a modification is not listed, it is not an allowable Rhode Island adjustment to Federal AGI. MODIFICATIONS INCREASING FEDERAL AGI 2a Income from obligations of any state or its political subdivisions, other than Rhode Island under RIGL 2a §44-30-12(1) and RIGL §44-30-12(2)............................................................................................................ b Rhode Island fiduciary adjustment as beneficiary of an estate or trust under RIGL §44-30-17..................... 2b c Recapture of Family Education Account modifications under RIGL §44-30-25(g)......................................... 2c d Bonus depreciation taken for federal purposes that must be added back to Rhode Island income under 2d RIGL §44-61-1................................................................................................................................................ e Recapture of Tuition Saving Program modifications (section 529 accounts) under RIGL §44-30-12(4).............. 2e f Recapture of tax credit income previously claimed as a modification decreasing Federal AGI (see instructions for more information)............................................................................................................................. 2f g Recapture of Scituate Medical Savings Account modifications under RIGL §44-30-25.1(d)(3)(i).......................... 2g h Pass-through Entity Tax Elected to be Paid under RIGL §44-11-2.3............................................................. 2h i Unemployment compensation received but not included in federal adjusted gross income under RIGL §44-3012(b)(6)................................................................................................................................................................... 2i j Taxable portion of Paycheck Protection Program Loan amount under RIGL §44-30-12(b)(8) (See Instructions). 2j k .........................................................RESERVED FOR FUTURE USE......................................................... 2k l Total modifications INCREASING Federal AGI. Add lines 2a through 2k..................................................... 2l NET MODIFICATIONS TO FEDERAL AGI: 1 Total modifications DECREASING Federal AGI. Enter the amount from Schedule M, page 1, line 1w........ 1 2 Total modifications INCREASING Federal AGI. Enter the amount from line 2l above......................................... 2 3 COMBINE lines 1 and 2. Enter here and on RI-1040 or RI-1040NR, page 1, line 2......................................... 3
2023 RI Schedule M
More about the Rhode Island Schedule M Individual Income Tax TY 2023
We last updated the Schedule M - Rhode Island Modifications to Federal AGI in January 2024, so this is the latest version of Schedule M, fully updated for tax year 2023. You can download or print current or past-year PDFs of Schedule M directly from TaxFormFinder. You can print other Rhode Island tax forms here.
Related Rhode Island Individual Income Tax Forms:
TaxFormFinder has an additional 78 Rhode Island income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Rhode Island Schedule M.
| Form Code | Form Name |
|---|---|
| Form 1041 Schedule M | Fiduciary Schedule M - Rhode Island Modifications to Federal Total Income |
View all 79 Rhode Island Income Tax Forms
Form Sources:
Rhode Island usually releases forms for the current tax year between January and April. We last updated Rhode Island Schedule M from the Division of Taxation in January 2024.
About the Individual Income Tax
The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.
Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!
Historical Past-Year Versions of Rhode Island Schedule M
We have a total of twelve past-year versions of Schedule M in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 Schedule M
2023 RI Schedule M
2022 Schedule M
Microsoft Word - Incentive and Credit Overview for DLT
2021 Schedule M
Microsoft Word - Incentive and Credit Overview for DLT
2020 Schedule M
Microsoft Word - Incentive and Credit Overview for DLT
2019 Schedule M
Microsoft Word - Incentive and Credit Overview for DLT
2018 Schedule M
Microsoft Word - Incentive and Credit Overview for DLT
2017 Schedule M
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2016 Schedule M
Schedule M flip_Layout 1
2015 Schedule M
2015 RI Schedule M_Layout 1
2014 Schedule M
2014 RI Schedule M_Layout 1
2013 Schedule M
2013 RI Schedule M_Layout 1
2012 Schedule M
2012 RI Schedule M - Modifications - New.qxp
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