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4 State of Rhode Island Division of Taxation 4
5 2024 RI Schedule M for RI-1041 - page 1 5
6 RI Modifications to Federal Total Income 24100999990101 6
7 7
8 Name of estate or trust shown on Form RI-1041 Federal employer identification number 8
9 9
10 XXXXXXXXXXXXXXXXXXXXXXXXX 999999999 10
11 11
NOTE: For each modification being claimed you must enter the modification amount on the corresponding modification line and attach
12 documentation supporting your modification. Otherwise, the processing of your return may be delayed. Refer to the instructions for 12
13 more information on each modification. If a modification is not listed below, it is not valid and, therefore, not allowable. 13
14 MODIFICATIONS DECREASING FEDERAL TOTAL INCOME 14
15 1a Income from obligations of the US government included in Federal Total Income but exempt from state in- 1a 15
16 come taxes reduced by investment interest on the obligations taken as a federal itemized deduction............... 999999999 99 16
17 17
18 b Rhode Island fiduciary adjustment as beneficiary of an estate or trust under RIGL §44-30-17..................... 1b 999999999 99 18
19 19
20 c Elective deduction for new research and development facilities under RIGL §44-32-1................................. 1c 999999999 99 20
21 21
22 d Railroad Retirement benefits paid by the Railroad Retirement Board............................................................ 1d 999999999 99 22
23 23
24 e Qualifying investment in a certified venture capital partnership under RIGL §44-43-2.................................. 1e 999999999 99 24
25 25
26 f Family Education Accounts under RIGL §44-30-25....................................................................................... 1f 999999999 99 26
27 g Tuition Saving Program contributions (section 529 accounts) under RIGL §44-30-12. 1g 27
28 Not to exceed $500 ($1,000 if joint return)..................................................................................................... 999999999 99 28
29 29
30 h Exemptions from tax on profit or gain for writers, composers and artists under RIGL §44-30-1.1................. 1h 999999999 99 30
31 i Bonus depreciation taken on the Federal return that has not yet been subtracted from Rhode Island 1i 31
32 income underRIGL §44-61-1......................................................................................................................... 999999999 99 32
33 j Section 179 depreciation taken on the Federal return that has not yet been subtracted from Rhode Island 1j 33
34 under RIGL §44-61-1.1.................................................................................................................................. 999999999 99 34
35 k Modification for performance based compensation realized by an eligible employee under the Jobs 1k 35
36 Growth Act under RIGL §42-64.11-4.............................................................................................................. 999999999 99 36
37 l Modification for exclusion for qualifying option underRIGL §44-39.3 ANDmodification for exclusion for quali- 1l 37
38 fying securities or investment under RIGL §44-43-8.............................................................................................. 999999999 99 38
39 39
40 m Modification for Tax Incentives for Employers under RIGL §44-55-4.1.......................................................... 1m 999999999 99 40
41 n Tax Credit income reported on Federal return exempt for Rhode Island purposes (see instructions for eli- 1n 41
42 gible credits)...................................................................................................................................................DRAFT 999999999 99 42
43 o Active duty militaryNonresidentspay of stationed in Rhode Island and income for services performed in 1o 43
44 Rhode Island by the servicemember’s spouse............................................................................................... 999999999 99 44
45 p Scituate Medical Savings Account contributions taxable on the Federal Return but exempt from Rhode Island 1p 45
46 under RIGL §44-30-25.1(d)(3)(i).................................................................................................................................. 999999999 99 46
47 q Amounts of insurance benefits for dependents and domestic partners included in Federal Total Income 1q 47
48 pursuant to chapter 12 of title 36 or other coverage plan under RIGL §44-30-12(c)(6)................................ 999999999 99 48
49 r Modification for Organ Transplantation for specific unreimbursed expenses incurred by Rhode Island 1r 49
50 Resident pursuantRIGLto§44-30-12(c)(7) .................................................................................................. 999999999 99 50
51 s Modification for taxable Social Security Primary Spouse 1s 51
52 Date of Birth Date of Birth 52
incomeRIGLunder§44-30-12(c)(8) (Required) 10/03/2024 / 06/12/1934 / (Required) 01/31/1950/ / 999999999 99
53 t Modification for taxable Retirement Primary Spouse 53
54 income from certain pension plans or Date of Birth / 06/12/1934 / Date of Birth 01/31/1950/ / 1t 999999999 99 54
annuities under RIGL §44-30-12(c)(9) (Required) (Required)
55 u 55
CASH BASIS ONLY - Deduction for Pass-Through Entity Tax claimed in Prior Year - NOT FOR ESTATES 1u
56 OR TRUSTS - FOR INDIVIDUALS ONLY......................................................................................................... 999999999 99 56
57 57
v Modification for taxpayers receiving military service pensions under RIGL §44-30-12(c)(11) - NOT FOR 1v1v
58 ESTATES OR TRUSTS - FOR INDIVIDUALS ONLY................................................................................... 999999999 99 58
59 59
w Total modifications DECREASING Federal Total Income. Add lines 1a through 1v. Enter as a negative amount
60 here and on RI-1041, page 1, line 3........................................................................................................................ 1w 999999999 99 60
61 61
62 62
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