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Category: Rhode Island

Rhode Island Additions to Income

Modifications INCREASING Federal AGI

Below is a list of additions to Rhode Island income you are required to report by the Rhode Island Department of Revenue should they apply to you for the current tax year:

  • Income from obligations of any state or its political subdivision, other than Rhode Island
  • Rhode Island fiduciary adjustment as beneficiary of an estate or trust
  • Recapture of Family Education Account Modifications
  • Bonus depreciation that has been taken for federal purposes that must be added back to Rhode Island income
  • Increased Section 179 depreciation that has been taken for federal purposes that must be added back to Rhode Island income
  • Recapture of Tuition Savings Program modifications (Section 529 accounts)
  • Recapture of Historic Structures - Tax Credit or Motion Picture Production Company Tax Credit modifications decreasing Federal AGI previously claimed
  • Recapture of Scituate Medical Savings Account modifications.

For additional information pertaining to these additions, please see Schedule M and Form 1040 Instructions.