Get Wisconsin Self Employment Income Report Form

Filling out the Wisconsin Self Employment Income Report Form is an important process for individuals managing their self-employment income. This guide aims to provide clear, step-by-step instructions on how to complete the form online, ensuring that users can efficiently report their income in compliance with Wisconsin regulations.

Follow the steps to complete the Wisconsin Self Employment Income Report Form online.

1. Press the ‘Get Form’ button to obtain the form and open it in your preferred online editor.
2. Begin by identifying the section labeled 'FoodShare (FS) Countable Income.' Here you will input your net business income, which is found on line 24 of the form, in the designated field.
3. Next, provide the depreciation and depletion values noted on lines 18 and 19 of the form in the appropriate field. If the resulting amount is negative, enter zero.
4. Calculate the countable income by adding the values from lines 1 and 2, and input this total in the specified area.
5. If you own less than 100% of the business, you will calculate the FS countable income by multiplying the countable income by your percentage of ownership and entering that figure in the given space.
6. Proceed to the section for 'Medicaid for the Elderly, Blind or Disabled (MA) Countable Income.' Again, start by entering your net business income from line 24.
7. Input any disallowed expenses related to the purchase of income-producing real estate or capital assets from lines 20 and 21.
8. Add the net business income and the disallowed expenses to find the countable income, entering that total accordingly.
9. Repeating the ownership calculation, if applicable, multiply the countable income by the percentage of ownership and input that result.
10. Continue to the 'BadgerCare Plus (BC+) and MAGI Countable Income' section, beginning with net business income from line 24.
11. Enter any disallowed expenses and depreciation from the noted lines to calculate a total countable income for this section.
12. Perform any necessary ownership calculations as mentioned in previous steps, if applicable.
13. If you are using multiple months of reports, ensure you enter the average of all SEIRFs completed for the business in the required fields.
14. Once you have completed all sections, review your inputs for accuracy and clarity. Finally, save your changes, download the document, print it, or share it as needed.

Start filling out your Wisconsin Self Employment Income Report Form online today for a streamlined reporting process!