Schedule M - Rhode Island Division Of Taxation - 2014

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State of Rhode Island and Providence Plantations

2014 RI Schedule M

RI Modifications to Federal AGI

Name(s) shown on Form RI-1040 or RI-1040NR

Your 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

Income from obligations of any state or its political subdivisions, other than Rhode Island....................................

Rhode Island fiduciary adjustment as beneficiary of an estate or trust.................................................................... 1b

Recapture of Family Education Account modifications............................................................................................ 1c

Bonus depreciation taken for federal purposes that must be added back to Rhode Island income........................

Recapture of Tuition Saving Program modifications (section 529 accounts)....................................................................

Recapture of Historic Structures - Tax Credit, Historic Preservation Tax Credits - 2013, Motion Picture Production

Tax Credit or Musical & Theatrical Tax Credit modifications decreasing Federal AGI previously claimed.................

Recapture of Scituate Medical Savings Account modifications...............................................................................

Total modifications INCREASING Federal AGI. Add lines 1a through 1g...............................................................

MODIFICATIONS DECREASING FEDERAL AGI

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............................................. 2a

Rhode Island fiduciary adjustment as beneficiary of an estate or trust...................................................................

Elective deduction for new research and development facilities.............................................................................. 2c

Railroad Retirement benefits paid by the Railroad Retirement Board.....................................................................

Qualifying investment in a certified venture capital partnership...............................................................................

Family Education Accounts......................................................................................................................................

Tuition Saving Program contributions (section 529 accounts) . Not to exceed $500 ($1,000 if joint return)..........

Exemptions from tax on profit or gain for writers, composers and artists................................................................

Bonus depreciation taken on the Federal return that has not yet been subtracted from Rhode Island income......

Section 179 depreciation taken on the Federal return that has not yet been subtracted from Rhode Island..........

Modification for performance based compensation realized by an eligible employee under the Jobs Growth Act.. 2k

Modification for exclusion for qualifying option AND modification for exclusion for qualifying securities or investment

Modification for Tax Incentives for employers..........................................................................................................

Historic Structures - Tax Credit, Historic Preservation Tax Credits - 2013, Motion Picture Production Tax Credit or

Musical & Theatrical Tax Credit income reported on Federal return exempt for Rhode Island purposes.......................

Active duty military pay of Nonresidents stationed in Rhode Island and income for services performed in

Rhode Island by the servicemember’s spouse........................................................................................................

Scituate Medical Savings Account contributions taxable on the Federal Return but exempt from Rhode Island.............. 2p

Amounts of insurance benefits for dependents and domestic partners included in Federal AGI pursuant to

chapter 12 of title 36 or other coverage plan...........................................................................................................

Modification for Organ Transplantation for specific unreimbursed expenses incurred by Rhode Island Resident..

Modification for Rhode Island Resident business owner in certified enterprise zone.............................................

Income from the discharge of business indebtedness claimed as income on Federal return and previously

claimed as RI income under the American Recovery and Reinvestment Act of 2009................................................. .

Total modifications DECREASING Federal AGI. Add lines 2a through 2t and enter as a negative amount..........

NET MODIFICATIONS TO FEDERAL AGI

NET MODIFICATIONS. COMBINE lines 1h and 2u. Enter here and on RI-1040 or RI-1040NR, page 1, line 2......

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