Form I-053 Schedule M Additions to and Subtractions From Income - Wisconsin

What Is Form I-053 Schedule M?

This is a legal form that was released by the Wisconsin Department of Revenue - a government authority operating within Wisconsin. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form I-053 Schedule M?A: Form I-053 Schedule M is a form used in Wisconsin to report the additions to and subtractions from income.

Q: What is the purpose of Form I-053 Schedule M?A: The purpose of Form I-053 Schedule M is to calculate the adjusted gross income for Wisconsin tax purposes.

Q: What are additions to income?A: Additions to income are items that increase your taxable income, such as interest income, capital gains, and rental income.

Q: What are subtractions from income?A: Subtractions from income are items that can be subtracted from your taxable income, such as certain types of deductions and exemptions.

Q: Who needs to file Form I-053 Schedule M?A: Residents of Wisconsin who need to report any additions to or subtractions from their income for state tax purposes must file Form I-053 Schedule M.

Q: When is the deadline to file Form I-053 Schedule M?A: The deadline to file Form I-053 Schedule M is usually the same as the deadline for filing your Wisconsin state tax return, which is April 15th.

Q: Do I need to file Form I-053 Schedule M if I don't have any additions or subtractions from income?A: If you don't have any additions or subtractions from income, you may not need to file Form I-053 Schedule M. However, it's always a good idea to consult with a tax professional or the Wisconsin Department of Revenue to confirm.

Q: What should I do if I made a mistake on Form I-053 Schedule M?A: If you made a mistake on Form I-053 Schedule M, you can file an amended schedule to correct the error. Be sure to follow the instructions provided by the Wisconsin Department of Revenue.

Q: Can I e-file Form I-053 Schedule M?A: Yes, you can e-file Form I-053 Schedule M if you are filing your Wisconsin state tax return electronically. Check the instructions provided by the Wisconsin Department of Revenue for more information.