topic Re: Why is Illinois schedule M missing? in State tax filing

Why is Illinois schedule M missing?

johneinbinder — Wed, 11 Feb 2026 04:48:34 GMT

Why is schedule M not included in the Illinois state form

Re: Why is Illinois schedule M missing?

MarilynG1 — Fri, 02 Feb 2024 16:54:59 GMT

Illinois Schedule M is used to report Other Additions/Subtractions. As you proceed through the Illinois State Interview in TurboTax, the schedule will be prepared in the background and included in your return, if needed.

You will come to a section in the Illinois interview, 'Here's the Income that Illinois Handles Differently' .

IL subtracts certain federal government interest on the state return and it shows on IL Schedule M, the form where IL additions and subtractions due to the state tax code varying from the federal tax code occur.

Re: Why is Illinois schedule M missing?

johneinbinder — Sun, 04 Feb 2024 19:18:36 GMT

I am aware of the section "Here's the Income that Illinois Handles Differently" However there is not a category for interest that is tax exempt by states - only a category for Retirement income.

Perhaps there is a section in the Federal 1040 that would identify federal interest and EE Bonds and prompt the creation of a section in the state return - but I do not see anything.

I am able to force such a category by locating a Schedule M Form and manually entering the interest - need to override the line 22 amount in Schedule M in order to enter the total interest for EE Bonds and Treasury Bill interest.

However this seems very strange because all federal interest is exempt in all states. Do not know why Turbo tax does not explicitly handle the category. Perhaps I am missing something.

Re: Why is Illinois schedule M missing?

JamesG1 — Wed, 07 Feb 2024 18:26:55 GMT

In TurboTax Online Premium, I reported the interest in box 3.

I am able to report Series EE bonds. See this screen.

In the Illinois state tax return, I came to this screen.

The interest is deducted on line 22 of Illinois Schedule M.

@johneinbinder

Re: Why is Illinois schedule M missing?

Edgy2009 — Wed, 14 Feb 2024 21:23:07 GMT

I need IL Schedule M to figure subtractions for IL 1040 Line 7. Specifically for for the Bright Start / Bright Directions college savings programs to which I have made contributions. The form exists.... I'm looking at it as I type. I got it from Tax.Illinois.gov site. How do I handle this without paper filing?? The $120.00 I pay for the Turbo Tax Advantage program is supposed to take care of all this. Please address this issue asap.

Thank you.

Re: Why is Illinois schedule M missing?

AmyC — Sat, 17 Feb 2024 16:52:58 GMT

The form automatically populates when you enter the information in the program. Open your IL return and continue through to Here's the income that Illinois handles differently. Select Education and contributions.

@Edgy2009

Re: Why is Illinois schedule M missing?

Howward — Mon, 18 Aug 2025 03:39:50 GMT

Going back over my taxes, I've run into the same problem.

Line 22 on IL Schedule M shows dividends from US Government Securities for only 1 of my funds, and that represents only half of the relevant dividends that I received.

I've looked for a step in which to enter the appropriate number(s), but I cannot find it.

Then, I tried to enter an accurate number directly into the form, but it would not allow a change.

How does this Illinois deduction get entered into TurboTax 2024?

Thank you,

Howard

Re: Why is Illinois schedule M missing?

Mike9241 — Mon, 18 Aug 2025 07:24:45 GMT

the Ill schedule M deduction for US interest included in dividend income comes from the entry on the 1099-DIV.

a direct entry on schedule M will cause an error that may prevent e-filing even the Federal return. there is no line on the standard 1099-div where US interest is reported so importing the 1099-div info may not bring in this item. for Illinois the subtraction is entered when you get to the illinois return. it wiould ve ubnnder the income section and then items handled differently for illinois. not sure of online because in desktop that line for entry does not appear

[MODS} in desktop step-by-step, for illinois 1040 the line for subtraction of US interest on schedule M does not appear. it can be entered directly on the 1099- in form mode.

Re: Why is Illinois schedule M missing?

Howward — Thu, 21 Aug 2025 22:35:59 GMT

Thank you. I've been able to update 2024. Now I'll go back to previous 3 years.

I did not see the option to input this number during the Step by Step process. If it's not there, I strongly suggest that it's added.

There's significant $$ left on the table, otherwise.

Howard