Enlarge image
1 1
2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 36 38 40 42 44 46 48 50 52 54 56 58 60 62 64 66 68 70 72 74 76 78 80 82 84 86
3 3
4 NEAR FINAL DRAFT 8/1/24 4
5 5
6 *241491* 6
7 7
2024 Schedule M1MB, Business Income
8 8
9 Additions and Subtractions 9
10 See instructions for more information and worksheets to complete Schedule M1MB. 10
11 11
12 YOURNameFirst Your and Initial FIRST NAME,INITXX LASTLastYour Name NAMEXXXXXXXXXXXXXXXXXXXXXXX 999999999Your Social Security Number 12
13 13
14 Additions to Income 14
15 1 Federal bonus depreciation addition (determine from worksheet in the instructions) . . . . . . . . . . . . . . . . . . 1 15
12345678
16 2 State income taxes passed through to you as a partner, shareholder, 16
17 or a beneficiary aof pass-through entity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2. . . . . . . . . . . . . . . . . 17
12345678
18 18
19 3 Foreign-derived intangible income deduction (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 19
12345678
20 20
21 4loss Suspended from bonus depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4. . . 21
12345678
22 22
23 5 Net operating loss carryover adjustment from WHBA of 2009 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 23
12345678
24 24
25 6 Accelerated of nonresident installmentrecognition sales (enclose M1AR)Schedule . . . . . . . . . . . . . . . . . . .6. . 25
12345678
26 26
27 7This intentionally line blankleft . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7. . . . 27
28 28
29 8line This intentionally blankleft . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8. . . . 29
30 30
31 98.through 1 lines Add Include 2 line result M1Form the of on . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9. . 31
12345678
32 32
33 Subtractions from Income 33
34 10 Federal bonus depreciation subtraction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 34
12345678
35 35
36 11 Section 179 expensing subtraction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 36
12345678
37 37
38 12 Gain from the sale of farm property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 38
12345678
39 39
40 13 Net operating loss carryover adjustment from WHBA of 2009 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 40
12345678
41 41
42 14 Subtraction for railroad maintenance expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 42
12345678
43 43
44 15 Income from prior-year partnership or S corporation sale . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 44
12345678
45 45
46 16 Disallowed section 280E expenses for licensed cannabis or hemp businesses . . . . . . . . . . . . . . . . . . . . . . . . 16 46
12345678
47 47
48 17 Deferred foreign income subtraction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 48
12345678
49 49
50 18 Delayed business interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 50
12345678
51 51
52 19 Delayed net operating loss (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 52
12345678
53 53
54 20 This line intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 54
55 55
56 21 Add lines 10 through 20. Include the result on line 7 of Form M1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 56
12345678
57 57
58 58
59 59
60 60
61 61
62 62
63 9995 63
2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 36 38 40 42 44 46 48 50 52 54 56 58 60 62 64 66 68 70 72 74 76 78 80 82 84 86
65 65