Worksheet for "Other" Subtraction Modifications: Worksheet for Form 1040ME, Schedule 1S, line 28 (2024)

Who files this form

Use this 2024 worksheet if you have one of the listed types of income that is taxable by the federal government but not by Maine:

• Holocaust victim settlement payments.
• Maine COVID disaster relief, COVID pandemic relief, or Winter energy relief payments.
• Earnings on funds held in an ABLE savings account.
• The refundable portion of the Maine seed capital investment tax credit.
• Income recognized from the new markets capital investment credit.
• Northern Maine Transmission Corporation investment income.
• Interest income and capital gains from qualifying bonds related to the Maine Space Corporation, Maine Waste Management & Recycling Program, or Lincoln Mill Facilities District.

Enter eligible amounts only to the extent they are included in federal adjusted gross income. Include your distributive share of these items from partnerships, S corporations, and other pass-through entities.

What you'll need

Have the following information available to complete the worksheet:

• Your name or names as shown on Form 1040ME.
• Your Social Security number.
• The amounts of the listed income items included in your federal adjusted gross income, including your distributive share from pass-through entities.

The worksheet total is used on Form 1040ME, Schedule 1S, line 26.

Common mistakes

• Do not add income categories that are not specifically listed on this worksheet.
• Do not subtract amounts that were not included in federal adjusted gross income.
• Do not leave out your distributive share of listed items from partnerships, S corporations, or other pass-through entities.
• For Holocaust victim settlement payments, the exemption applies only to the first taxpayer receiving the payment, who must be the victim or the victim’s spouse or descendant.

Questions people ask

Where does the worksheet total go?

Add lines 1 through 7 and enter the total on worksheet line 8. The printed 2024 worksheet directs you to enter that total on Form 1040ME, Schedule 1S, line 26.

Can I subtract Maine relief payments?

Maine COVID disaster relief payments, COVID pandemic relief payments, and Winter energy relief payments are exempt from Maine individual income tax. Enter them on line 2 only to the extent they were included in your federal adjusted gross income.

What ABLE savings account income belongs on line 3?

Enter ABLE savings account income, such as interest, that is included in your federal adjusted gross income.

Which part of the Maine seed capital investment tax credit belongs on line 4?

Enter the refundable portion of the credit to the extent it is included in federal adjusted gross income.

Can qualifying Holocaust settlement interest be included?

Yes. Eligible settlement payments include interest accumulated through the date of payment. The payment must be included in federal adjusted gross income, and the exemption applies only to the first taxpayer receiving it, who must be the victim or the victim’s spouse or descendant.

Official sources

• https://www.maine.gov/revenue/sites/maine.gov.revenue/files/inline-files/24_sch1_other_sub_mods_wksht_ff.pdf