Modifications Increasing Federal Adjusted Gross Income (additions to income).
West Virginia Schedule M Instructions:
Line 28: INTEREST OR DIVIDEND INCOME ON FEDERAL OBLIGATIONS.
Enter the amount of any interest or dividend income (received by or credited to you during the taxable year) on bonds or securities of any United States authority, commission or instrumentality which the laws of the United States exempt from federal income tax but not from state income tax.
Line 29: INTEREST OR DIVIDEND INCOME ON STATE AND LOCAL BONDS (OTHER THAN WEST VIRGINIA).
Enter the amount of any interest or dividend income on state and local bonds (other than West Virginia and its political subdivisions) received by or credited to you.
Line 30: INTEREST ON MONEY BORROWED TO PURCHASE BONDS EARNING EXEMPT WEST VIRGINIA INCOME.
Enter the amount of any interest deducted, as a business expense or otherwise, from your federal adjusted gross income in connection with money borrowed to purchase or carry bonds or securities, the income from which is exempt from West Virginia income tax.
Line 31: LUMP SUM PENSION DISTRIBUTIONS.
Enter the amount of any qualifying 402(e) lump sum distributions not included in your federal adjusted gross income that was separately reported and taxed on federal Form 4972.
Line 32: OTHER INCOME EXCLUDED FROM FEDERAL ADJUSTED GROSS INCOME BUT SUBJECT TO STATE TAX.
West Virginia income tax is based on federal adjusted gross income. However, certain income must be added back. For example; income deducted under Section 199 of the Internal Revenue Code. Enclose Schedule K-1(s).
Line 33: WITHDRAWALS FROM A PREPAID TUITION / SAVINGS PLAN NOT USED FOR PAYMENT OF QUALIFYING EXPENSES.
Enter the basis amount in a withdrawal from a WV Prepaid Tuition/SMART529 Savings Plan which was spent for OTHER than qualifying expenses, if a deduction was previously taken.
Line 34: TOTAL ADDITIONS. Add lines 28 through 33. Enter the result here and on line 2 of Form IT-140.