ScheduleM: ScheduleM (2024)
Wisconsin · Wisconsin DOR · Used for tax years 2024
Wisconsin Schedule M reports additions to and subtractions from income for 2024. It is filed with Wisconsin Form 1NPR and includes adjustments for interest, retirement benefits, education expenses, and other listed items.
Who files this form
The 2024 Wisconsin Schedule M is for reporting additions to and subtractions from income with Wisconsin Form 1NPR. Part I covers additions, and Part II covers subtractions.
What you'll need
The form calls for your name and Social Security number. Depending on the items you report, it also references:
- Wisconsin Form 1NPR, which you file with Schedule M.
- Federal Form 4972 for lump-sum distribution income on line 6.
- Schedule PS for private school tuition on line 43.
- Schedule CS for Edvest or Tomorrow’s Scholar college savings account contributions on line 44.
- Schedule 2440W for the disability income exclusion on line 56.
For entity adjustments, the form asks for entity names, federal employer identification numbers (FEINs), amounts, and descriptions where indicated.
How to file
File the 2024 Schedule M with Wisconsin Form 1NPR.
- Complete the applicable additions in Part I. Enter the total from line 34 on Form 1NPR, line 15, column B.
- Complete the applicable subtractions in Part II. Enter the total from line 84 on Form 1NPR, line 28, column B.
The supplied form does not provide a mailing address or e-filing directions.
Common mistakes
- Mixing entity-level tax election adjustments with other adjustments. Do not include line 30 adjustments on line 29, line 32 adjustments on line 31, line 80 adjustments on line 77, or line 82 adjustments on line 81.
- Overlooking the condition on line 61. Report recoveries of federal itemized deductions there only if they are included on line 33 of Schedule M.
- Overlooking the conditions on lines 68 and 69. Report sales of certain insurance policies or a physician or psychiatrist grant on these lines only if included in column B of Form 1NPR or line 26 of Schedule M.
Questions people ask
What does Schedule M report?
It reports additions to and subtractions from income. File it with Wisconsin Form 1NPR.
Where do I transfer the totals?
Transfer total additions from Schedule M, line 34, to Form 1NPR, line 15, column B. Transfer total subtractions from Schedule M, line 84, to Form 1NPR, line 28, column B.
Which lines cover college savings accounts?
Line 3 covers nonqualified distributions from Edvest and Tomorrow’s Scholar accounts. Line 44 covers contributions to those accounts and references Schedule CS.
Where are differences between federal and Wisconsin asset basis reported?
The form lists these differences on line 10 for additions and line 72 for subtractions.