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

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

This document contains official instructions for Form I-053I Schedule M, Additions to and Subtractions From Income - a form released and collected by the Wisconsin Department of Revenue. An up-to-date fillable Form I-053I Schedule M is available for download through this link.

FAQ

Q: What is Form I-053I?A: Form I-053I is a schedule used to report additions to and subtractions from income for Wisconsin.

Q: What is Schedule M?A: Schedule M is a part of Form I-053I and is used to report additional income or deductions for Wisconsin.

Q: What are additions to income?A: Additions to income are all taxable income that are not already included in the federal adjusted gross income, such as interest or dividends.

Q: What are subtractions from income?A: Subtractions from income are deductions that can be taken on the Wisconsin tax return, such as certain business expenses or contributions to retirement accounts.

Q: Who needs to file Form I-053I Schedule M?A: Residents of Wisconsin who have additions or subtractions to income need to file Form I-053I Schedule M with their Wisconsin tax return.

Q: Is Form I-053I Schedule M used for both individual and business taxes?A: Yes, Form I-053I Schedule M can be used for both individual and business taxes in Wisconsin.

Q: Are there any specific instructions for completing Schedule M?A: Yes, detailed instructions for completing Schedule M can be found in the Wisconsin Schedule M Instructions booklet provided by the Wisconsin Department of Revenue.