The Mississippi Nonbusiness Income Worksheet is used to report income or loss items that are not treated as regular business income for Mississippi tax purposes. This worksheet separates directly allocable nonbusiness items from the taxpayer’s general apportionable business income. It helps show the gross amount of each nonbusiness income or loss item, the part connected to Mississippi, the related expenses, and the final net amount after those expenses are subtracted. The worksheet uses separate columns for everywhere amounts and Mississippi amounts so the taxpayer can clearly identify what belongs to all locations and what belongs specifically to Mississippi. The final totals from this worksheet are then carried to the Mississippi income return schedule, with the everywhere net nonbusiness income or loss reported separately from the Mississippi net nonbusiness income or loss. This worksheet is important because it prevents nonbusiness income from being mixed with regular business income and helps keep Mississippi tax reporting accurate, organized, and easier to review.
How To File The Mississippi Nonbusiness Income Worksheet
Complete this worksheet as part of the Mississippi tax return package when the taxpayer has nonbusiness income or loss that must be separately allocated. Enter the tax year, FEIN, each directly allocable item, the everywhere gross amount, the Mississippi gross amount, the related expenses, and the net amounts after expenses. After completing all applicable rows, total Column E and Column F. Enter the Column E total on Form 84-122, line 19. Enter the Column F total on Form 84-122, line 23. Keep the worksheet with the return records and attach it when required as part of the Mississippi filing.
How To Complete The Worksheet
Form Action Buttons
Reset Form: Use this button only if completing the form electronically and you need to clear the entries and start over.
Print Form: Use this button only if completing the form electronically and you need to print the finished worksheet.
Taxpayer Information
Tax Year Beginning: Enter the first day of the tax year using the month, day, and year format.
Tax Year Ending: Enter the last day of the tax year using the month, day, and year format.
FEIN: Enter the Federal Employer Identification Number of the taxpayer or entity filing the return.
Column Instructions
Directly Allocable Items: List each nonbusiness income or loss item that can be directly assigned rather than included in regular business income.
Column A, Everywhere: Enter the total gross income or loss from the item from all locations.
Column B, Mississippi: Enter the Mississippi portion of the gross income or loss from that item.
Column C, Everywhere: Enter the total related expense connected with the item from all locations.
Column D, Mississippi: Enter the Mississippi portion of the related expense connected with that item.
Column E, Everywhere: Subtract Column C from Column A. Enter the net everywhere amount after related expenses.
Column F, Mississippi: Subtract Column D from Column B. Enter the net Mississippi amount after related expenses.
Line-By-Line Instructions
Line 1a: Enter the first directly allocable nonbusiness income or loss item. Complete Columns A through F for this item.
Line 1a, Column A: Enter the everywhere gross income or loss for the first item.
Line 1a, Column B: Enter the Mississippi gross income or loss for the first item.
Line 1a, Column C: Enter the everywhere related expense for the first item.
Line 1a, Column D: Enter the Mississippi related expense for the first item.
Line 1a, Column E: Subtract Column C from Column A and enter the everywhere net amount for the first item.
Line 1a, Column F: Subtract Column D from Column B and enter the Mississippi net amount for the first item.
Line 1b: Enter the second directly allocable nonbusiness income or loss item, if applicable. Complete Columns A through F.
Line 1b, Column A: Enter the everywhere gross income or loss for the second item.
Line 1b, Column B: Enter the Mississippi gross income or loss for the second item.
Line 1b, Column C: Enter the everywhere related expense for the second item.
Line 1b, Column D: Enter the Mississippi related expense for the second item.
Line 1b, Column E: Subtract Column C from Column A and enter the everywhere net amount for the second item.
Line 1b, Column F: Subtract Column D from Column B and enter the Mississippi net amount for the second item.
Line 1c: Enter the third directly allocable nonbusiness income or loss item, if applicable. Complete Columns A through F.
Line 1c, Column A: Enter the everywhere gross income or loss for the third item.
Line 1c, Column B: Enter the Mississippi gross income or loss for the third item.
Line 1c, Column C: Enter the everywhere related expense for the third item.
Line 1c, Column D: Enter the Mississippi related expense for the third item.
Line 1c, Column E: Subtract Column C from Column A and enter the everywhere net amount for the third item.
Line 1c, Column F: Subtract Column D from Column B and enter the Mississippi net amount for the third item.
Line 1d: Enter the fourth directly allocable nonbusiness income or loss item, if applicable. Complete Columns A through F.
Line 1d, Column A: Enter the everywhere gross income or loss for the fourth item.
Line 1d, Column B: Enter the Mississippi gross income or loss for the fourth item.
Line 1d, Column C: Enter the everywhere related expense for the fourth item.
Line 1d, Column D: Enter the Mississippi related expense for the fourth item.
Line 1d, Column E: Subtract Column C from Column A and enter the everywhere net amount for the fourth item.
Line 1d, Column F: Subtract Column D from Column B and enter the Mississippi net amount for the fourth item.
Line 1e: Enter the fifth directly allocable nonbusiness income or loss item, if applicable. Complete Columns A through F.
Line 1e, Column A: Enter the everywhere gross income or loss for the fifth item.
Line 1e, Column B: Enter the Mississippi gross income or loss for the fifth item.
Line 1e, Column C: Enter the everywhere related expense for the fifth item.
Line 1e, Column D: Enter the Mississippi related expense for the fifth item.
Line 1e, Column E: Subtract Column C from Column A and enter the everywhere net amount for the fifth item.
Line 1e, Column F: Subtract Column D from Column B and enter the Mississippi net amount for the fifth item.
Line 1f: Enter the sixth directly allocable nonbusiness income or loss item, if applicable. Complete Columns A through F.
Line 1f, Column A: Enter the everywhere gross income or loss for the sixth item.
Line 1f, Column B: Enter the Mississippi gross income or loss for the sixth item.
Line 1f, Column C: Enter the everywhere related expense for the sixth item.
Line 1f, Column D: Enter the Mississippi related expense for the sixth item.
Line 1f, Column E: Subtract Column C from Column A and enter the everywhere net amount for the sixth item.
Line 1f, Column F: Subtract Column D from Column B and enter the Mississippi net amount for the sixth item.
Line 1g: Enter the seventh directly allocable nonbusiness income or loss item, if applicable. Complete Columns A through F.
Line 1g, Column A: Enter the everywhere gross income or loss for the seventh item.
Line 1g, Column B: Enter the Mississippi gross income or loss for the seventh item.
Line 1g, Column C: Enter the everywhere related expense for the seventh item.
Line 1g, Column D: Enter the Mississippi related expense for the seventh item.
Line 1g, Column E: Subtract Column C from Column A and enter the everywhere net amount for the seventh item.
Line 1g, Column F: Subtract Column D from Column B and enter the Mississippi net amount for the seventh item.
Line 1h: Enter the eighth directly allocable nonbusiness income or loss item, if applicable. Complete Columns A through F.
Line 1h, Column A: Enter the everywhere gross income or loss for the eighth item.
Line 1h, Column B: Enter the Mississippi gross income or loss for the eighth item.
Line 1h, Column C: Enter the everywhere related expense for the eighth item.
Line 1h, Column D: Enter the Mississippi related expense for the eighth item.
Line 1h, Column E: Subtract Column C from Column A and enter the everywhere net amount for the eighth item.
Line 1h, Column F: Subtract Column D from Column B and enter the Mississippi net amount for the eighth item.
Line 1i: Enter the ninth directly allocable nonbusiness income or loss item, if applicable. Complete Columns A through F.
Line 1i, Column A: Enter the everywhere gross income or loss for the ninth item.
Line 1i, Column B: Enter the Mississippi gross income or loss for the ninth item.
Line 1i, Column C: Enter the everywhere related expense for the ninth item.
Line 1i, Column D: Enter the Mississippi related expense for the ninth item.
Line 1i, Column E: Subtract Column C from Column A and enter the everywhere net amount for the ninth item.
Line 1i, Column F: Subtract Column D from Column B and enter the Mississippi net amount for the ninth item.
Line 2: Net Nonbusiness Income Or Loss: Add all amounts in Column E and Column F separately. Enter the Column E total on Form 84-122, line 19. Enter the Column F total on Form 84-122, line 23.
Final Review Before Filing
Review Each Item: Make sure each nonbusiness income or loss item is listed only once.
Check Everywhere Amounts: Confirm that Columns A, C, and E include total amounts from all locations.
Check Mississippi Amounts: Confirm that Columns B, D, and F include only Mississippi amounts.
Verify The Math: Make sure Column E equals Column A minus Column C, and Column F equals Column B minus Column D.
Transfer The Totals Correctly: Make sure the Column E total goes to Form 84-122, line 19, and the Column F total goes to Form 84-122, line 23.