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State of Rhode Island Division of Taxation 2024 RI Schedule M for RI-1041 - page 1 RI Modifications to Federal Total Income 24100999990101 Name of estate or trust shown on Form RI-1041 Federal employer identification 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 TOTAL INCOME 1a Income from obligations of the US government included in Federal Total Income but exempt from state in- 1a come taxes reduced by investment interest on the obligations taken as a federal itemized deduction............... 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. 1g Not to exceed $500 ($1,000 if joint return)..................................................................................................... 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 1i income underRIGL §44-61-1......................................................................................................................... j Section 179 depreciation taken on the Federal return that has not yet been subtracted from Rhode Island 1j under RIGL §44-61-1.1.................................................................................................................................. k Modification for performance based compensation realized by an eligible employee under the Jobs 1k Growth Act under RIGL §42-64.11-4.............................................................................................................. l Modification for exclusion for qualifying option underRIGL §44-39.3 ANDmodification for exclusion for quali- 1l fying securities or investment under RIGL §44-43-8.............................................................................................. 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 eli- 1n gible credits)...................................................................................................................................................DRAFT o Active duty militaryNonresidentspay of 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 1p under RIGL §44-30-25.1(d)(3)(i).................................................................................................................................. q Amounts of insurance benefits for dependents and domestic partners included in Federal Total Income 1q pursuant to chapter 12 of title 36 or other coverage plan under RIGL §44-30-12(c)(6)................................ r Modification for Organ Transplantation for specific unreimbursed expenses incurred by Rhode Island 1r Resident pursuantRIGLto§44-30-12(c)(7) .................................................................................................. s Modification for taxable Social Security Primary Spouse 1s Date of Birth Date of Birth incomeRIGLunder§44-30-12(c)(8) (Required) 10/03/2024 / / (Required) / / t Modification for taxable Retirement Primary Spouse income from certain pension plans or Date of Birth / / Date of Birth / / 1t annuities under RIGL §44-30-12(c)(9) (Required) (Required) u CASH BASIS ONLY - Deduction for Pass-Through Entity Tax claimed in Prior Year - NOT FOR ESTATES 1u OR TRUSTS - FOR INDIVIDUALS ONLY......................................................................................................... v Modification for taxpayers receiving military service pensions under RIGL §44-30-12(c)(11) - NOT FOR 1v1v ESTATES OR TRUSTS - FOR INDIVIDUALS ONLY................................................................................... w Total modifications DECREASING Federal Total Income. Add lines 1a through 1v. Enter as a negative amount here and on RI-1041, page 1, line 3........................................................................................................................ 1w
