Michigan Modifications to Federal Return

Article ID: 59112  

Question
Michigan Modifications to Federal Return

Answer

NOTE:  Only use this form to adjust your Michigan taxable income if you have capital gains or losses attributable to one of the following:

-Gains or losses from the sale of certain types of properties located in other states and/or subject to the allocation and apportionment provisions; or

-Periods before October 1, 1967 (Section 271 adjustment).  If you file US Form 1040 Schedule D or Form 4797 and you elect to adjust under Section 271 of the Michigan Income Tax Act, you must file the equivalent Michigan forms (MI-1040D or MI-4797).  You must include all items of gain or loss relaized during the tax yer;  or

-Gains or losses from the sale or exchange of US obligations that cannot be taxed by Michigan.


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Views: 1373 Created on: Jun 15, 2013