Instructions for Form IL-1040 Schedule M Other Additions and Subtractions for Individuals - Illinois

Form IL-1040 Schedule M Other Additions and Subtractions for Individuals - Illinois

This document contains official instructions for Form IL-1040 Schedule M, Other Additions and Subtractions for Individuals - a form released and collected by the Illinois Department of Revenue. An up-to-date fillable Form IL-1040 Schedule M is available for download through this link.

FAQ

Q: What is Form IL-1040 Schedule M?
A: Form IL-1040 Schedule M is a schedule that accompanies the Illinois Individual Income Tax Return (Form IL-1040).

Q: What is the purpose of Form IL-1040 Schedule M?
A: Form IL-1040 Schedule M is used to report any other additions and subtractions that need to be made to your Illinois taxable income.

Q: Who is required to file Form IL-1040 Schedule M?
A: Anyone who needs to make additional additions or subtractions to their Illinois taxable income must file Form IL-1040 Schedule M.

Q: What types of additions can be reported on Form IL-1040 Schedule M?
A: Examples of additions that can be reported on Form IL-1040 Schedule M include taxable interest from U.S. obligations, net operating loss deductions, and certain retirement income.

Q: What types of subtractions can be reported on Form IL-1040 Schedule M?
A: Examples of subtractions that can be reported on Form IL-1040 Schedule M include certain retirement income, Social Security benefits, and certain contributions to retirement plans.