NEAR FINAL DRAFT 8/1/24

                                                                                                                                                                                                                                                           *241491*
2024 Schedule M1MB, Business Income 
Additions and Subtractions
See instructions for more information and worksheets to complete Schedule M1MB.

Your First Name and Initial                                                                                            Your Last Name                                                                                                                   Your Social Security Number
Additions to Income
 1  Federal bonus depreciation addition (determine from worksheet in the instructions)    . . .  . . . . . . .  . . . . .  . . .                                                                                                                         1                                  
 2  State income taxes passed through to you as a partner, shareholder,  
        or a beneficiary aof                                                          pass-through entity                  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  2.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .     
 
 3  Foreign-derived intangible income deduction (see instructions)   . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . .                                                                                                       3                                  
 
  4  Suspended loss from bonus depreciation                                                                                  . . .  . . . . . .  . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . .4. .  .                                          

 5  Net operating loss carryover adjustment from WHBA of 2009  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  .                                                                                                        5                                  

 6Accelerated                             of recognition installmentnonresident sales                                                                (enclose Schedule M1AR)                                   . . .  . . . . . .  . . . . .  . . . . .6.  .    

  7intentionally  This line               blankleft                                                        . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .7.  . .  .       

  8  This line intentionally blankleft                                                                        . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .8.  . . .                                        

 9Add   8.through 1 lines Include on result line M1Form 2 the of                                                                                                              . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . 9.  .     

Subtractions from Income
 10  Federal bonus depreciation subtraction  . . . . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . .  .   10   

 11  Section 179 expensing subtraction   .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  .  .   11   

 12  Gain from the sale of farm property                                                                            . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . .  .   12   
 
 13  Net operating loss carryover adjustment from WHBA of 2009    . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . .  .   13   

 14  Subtraction for railroad maintenance expenses  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  .  14   

 15  Income from prior-year partnership or S corporation sale   . . .  . . . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . .  .   15   

 16  Disallowed section 280E expenses for licensed cannabis or hemp businesses  . . . . . . .  . . . . .  . . . . . .  . . . . .  .  16   

 17  Deferred foreign income subtraction . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . .  .   17   

 18  Delayed business interest . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  .  .   18   

 19  Delayed net operating loss (see instructions)  .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  .   19   

 20  This line intentionally left blank  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  .  .   20   

 21  Add lines 10 through 20. Include the result on line 7 of Form M1  .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . .  .   21  
 
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