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February 8, 2021
Question

Where do I get the numbers needed for the calculations for Schedule M?

  • February 8, 2021
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February 8, 2021

The numbers needed to complete Schedule M (Making Work Pay Credi( come from several sources (see bold-faced comments below), 

 

For most filers, the Schedule M should be an easy process. If you use an automated, computer-based tax service (TurboTax!),  it will ask a few questions to see if you qualify, and then fill out the schedule from your personal data.

 

To fill out your Schedule M, you will need to know:

  • The amount you made in wages this year (your W-2s)
  • Members of the military will need to know any non-taxable combat pay not included in their wages (your DFAS W-2 or last LES from 2020)
  • The amount on line 38 of your Form 1040 or line 22 of your Form 1040A (current year tax return)
  • The amount of economic recovery payments you or your spouse received during the year, if any (total stimulus payments you received in 2020)
  • Any pension or annuity paid for service as a government employee, excluding any included on your W-2 (Form 1099-Rs from government pensions).

In some cases, you may require additional information from your return and 2020 tax documents. The following article discusses when that might be required What is Tax Form 1040 Schedule M?