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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


* 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.