RI Schedule M: Rhode Island Modifications to Federal AGI (2024)
Rhode Island · RI Division of Taxation · Used for tax years 2024
The 2024 Rhode Island Schedule M reports modifications that increase or decrease federal adjusted gross income (AGI) for Rhode Island tax purposes. It calculates the net modification to enter on Form RI-1040 or RI-1040NR.
Who files this form
RI Schedule M is used to report the listed Rhode Island adjustments that increase or decrease federal adjusted gross income (AGI). The net adjustment is carried to RI-1040 or RI-1040NR, page 1, line 2.
The 2024 schedule includes adjustments for items such as certain government-obligation income, retirement income, section 529 contributions, depreciation and pass-through entity tax. Only modifications listed on the schedule are allowable.
What you'll need
- Attach documentation supporting each modification you claim. The form does not specify which documents to provide.
- Provide your name and Social Security number on both pages.
- The taxable Social Security income and certain pension or annuity income modifications include required fields for the primary taxpayer’s and spouse’s dates of birth.
Common mistakes
- Leaving an adjustment off its designated line: Enter each modification amount on the corresponding modification line.
- Omitting supporting documentation: Attach documentation for every modification claimed. Missing amounts or documentation may delay processing of your return.
- Claiming an unlisted adjustment: The form warns that a modification not listed on the schedule is not allowable.
Questions people ask
How much can I subtract for section 529 contributions?
The listed Tuition Saving Program contribution modification cannot exceed $500, or $1,000 for a joint return.
How do I total the adjustments that decrease federal AGI?
Add lines 1a through 1v on page 1. Enter the total as a negative amount on line 1w.
Where does the net adjustment go?
In the “Net Modifications to Federal AGI” section on page 2, enter the decreasing total from page 1, line 1w, on line 1 and the increasing total from line 2l on line 2. Combine them on line 3, then enter that amount on RI-1040 or RI-1040NR, page 1, line 2.
Does the schedule include a military service pension adjustment?
Yes. Page 1 lists a modification decreasing federal AGI for taxpayers receiving military service pensions.