Schedule 1: Additions and Subtraction (2024)
Michigan · Michigan Treasury · Used for tax years 2024
2024 Michigan Schedule 1 reports additions to and subtractions from income on Form MI-1040. It includes adjustments for certain interest, gains, losses, retirement benefits, and other income or deductions, and is included with Form MI-1040.
Who files this form
Use 2024 Michigan Schedule 1 to report the additions and subtractions from income listed on the form. Include it with Form MI-1040.
The schedule covers items such as interest from other states’ obligations, certain gains and losses, taxable Social Security benefits, military pay and retirement benefits, and Michigan income tax refunds included in income. It also includes lines for retirement-related deductions and the Michigan net operating loss deduction.
What you'll need
Have Form MI-1040 and the forms relevant to the entries you are making:
- U.S. Schedule B: Include it if the income reported on Schedule 1, line 10, is over $5,000.
- MI-1040D and MI-4797: Use the specified Michigan or federal column amounts for applicable gains and losses.
- Form 5889: Use line 20 for extraction expenses on Schedule 1, line 6, and line 7 for extraction income on line 19.
- Form 5792: Include it when claiming the First-Time Home Buyer Savings Program subtraction on line 21.
- Form 4884: Include it when reporting the retirement benefits deduction on line 27.
- Form 5674: Include it when claiming the 2024 Michigan net operating loss deduction on line 30.
The schedule also asks for your name and full Social Security number. If claiming a deduction on lines 25 through 28, complete the birth-year and related information in 24A through 24H.
How to file
- Include Schedule 1 with Form MI-1040.
- Type or print in blue or black ink.
- Add lines 1 through 8 and enter the total on Schedule 1, line 9, and MI-1040, line 11.
- Continue onto page 2. Add lines 10 through 28 on line 29, then add lines 29 and 30 on line 31. Enter the line 31 total on MI-1040, line 13.
- Include any attachments required for your entries.
The supplied form does not give a mailing address or e-file instructions.
Common mistakes
- Entering negative numbers: The form says all entries in the additions and subtractions sections must be positive numbers.
- Skipping the birth-year information: Complete 24A through 24H if claiming a deduction on lines 25, 26, 27, or 28.
- Checking the SSA-exempt boxes incorrectly: Check 24C or 24G only if you or your spouse received retirement benefits from governmental employment not covered by the federal Social Security Act.
- Combining deductions the form says not to combine: If completing line 25, do not complete lines 26, 27, or 28. If completing line 26, do not complete lines 25, 27, or 28.
- Not reducing the line 28 deduction: The dividend, interest, and capital gains deduction must be reduced by any deduction for retirement benefits.
Questions people ask
Do I file Schedule 1 by itself?
No. The form says to include it with Form MI-1040.
Where do I report taxable Social Security benefits?
Use line 14 for taxable Social Security benefits included on MI-1040, line 10. This line also covers military pay other than retirement pay included on MI-1040, line 10.
Where do military and railroad retirement benefits go?
Line 11 covers amounts included on MI-1040, line 10, from military retirement benefits due to service in the U.S. Armed Forces or Michigan National Guard, or taxable railroad retirement benefits.
What is the limit on the deduction for dividends, interest, and capital gains?
For taxpayers born before 1946, line 28 lists a limit of $14,274 on a single return or $28,548 on a joint return. Reduce this deduction by any deduction for retirement benefits.