Get Schedule Wd

Filling out Schedule WD is essential for determining your capital gains and losses for Wisconsin income tax purposes. This guide provides clear, step-by-step instructions to help you navigate each section of the form easily and accurately.

Follow the steps to complete Schedule WD online.

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. Begin with Part I and Part II of the form. If you are not impacted by any adjustment items, fill in your net short-term capital gain or loss from federal Schedule D, line 7, on line 7 of Schedule WD. Next, fill in the net long-term capital gain or loss from line 15 of federal Schedule D on line 15 of Schedule WD.
3. If you are affected by the items requiring adjustment, input the respective amounts from your federal Schedule D as described in the instructions. Ensure you fill in the specified amounts for lines 1, 2, 4, and 5 of Part I, and lines 8, 9, 11, 12, and 13 of Part II.
4. For capital loss carryovers, input your carryover amounts from assets held one year or less from line 32 of last year's Schedule WD on line 5. Also, include your long-term carryover from line 37 on line 13.
5. If you are a nonresident or part-year resident, ensure you include only the gain or loss sourced from Wisconsin as per the guidelines provided.
6. Complete Part III by summarizing the totals from Parts I and II. If you have a loss on line 16, proceed directly to line 26; otherwise, fill lines 17 through 25 in case of a gain.
7. For Part IV, compute your adjustment to income. Indicate your net capital gain or loss and complete the necessary lines based on your situation: whether you have gains or losses for federal and Wisconsin purposes.
8. Finally, if applicable, fill out Part V to determine your capital loss carryovers for the next tax year. Complete the specified lines to arrive at your carryover amounts.

Complete your Schedule WD online with confidence and accuracy.