Form 2 (I-035) Schedule 2M Additions to and Subtractions From Income - Wisconsin

What Is Form 2 (I-035) Schedule 2M?

This is a legal form that was released by the Wisconsin Department of Revenue - a government authority operating within Wisconsin.The document is a supplement to Form 2, Wisconsin Fiduciary Income Tax for Estates and Trusts. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form 2 (I-035) Schedule 2M?
A: Form 2 (I-035) Schedule 2M is a tax form specific to Wisconsin that is used to report additions to and subtractions from income.

Q: What is the purpose of Form 2 (I-035) Schedule 2M?
A: The purpose of Form 2 (I-035) Schedule 2M is to calculate any additional income that needs to be added or subtracted from your total income on your Wisconsin tax return.

Q: What are additions to income?
A: Additions to income are any additional sources of income that need to be reported on your Wisconsin tax return. This can include things like rental income, gambling winnings, or interest income.

Q: What are subtractions from income?
A: Subtractions from income are deductions or adjustments that can reduce your total income on your Wisconsin tax return. Examples include contributions to retirement accounts, student loan interest, or certain business expenses.

Q: Who needs to use Form 2 (I-035) Schedule 2M?
A: Anyone who is filing a Wisconsin tax return and has additional income or deductions that need to be reported should use Form 2 (I-035) Schedule 2M.

Q: When is the deadline to file Form 2 (I-035) Schedule 2M?
A: The deadline to file Form 2 (I-035) Schedule 2M is the same as the deadline for filing your Wisconsin tax return, which is typically April 15th.

Q: Do I need to file Form 2 (I-035) Schedule 2M 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 2 (I-035) Schedule 2M. However, it's always a good idea to consult with a tax professional or the Wisconsin Department of Revenue to confirm.

Q: What happens if I don't file Form 2 (I-035) Schedule 2M?
A: If you have additions or subtractions from income that should have been reported on Form 2 (I-035) Schedule 2M and you fail to file it, you may face penalties or interest charges from the Wisconsin Department of Revenue.