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.