Get Schedule W Wisconsin Department Of Revenue Save Print Wisconsin Subtractions From Federal Income

Filling out the Schedule W is an essential step for individuals and entities looking to report Wisconsin subtractions from federal income. This guide will provide you with a clear, step-by-step approach to help you complete the form accurately and efficiently.

Follow the steps to accurately complete your Schedule W form.

1. Click ‘Get Form’ button to access the document and open it for editing.
2. Enter your Federal Employer ID Number in the designated field at the top of the form.
3. Input the name of the corporation or designated agent responsible for the filing in the corresponding section.
4. Proceed to line 1 and input the amount for Wisconsin subtraction modification for dividends, referring to Schedule Y, line 4 for guidance.
5. On line 2, record the related entity expenses eligible for subtraction as outlined in Schedule RT, Part II, Sch. 2K-1, and Sch. 3K-1.
6. For line 3, include income from related entities whose expenses were disallowed, making sure to obtain and submit Schedule RT-1 from the related entity along with your return.
7. Complete line 4 with any Subpart F income you may have.
8. If applicable, enter the gross-up of foreign dividend income on line 5.
9. Record any nontaxable income by attaching the relevant schedule in line 6.
10. On line 7, input foreign taxes, excluding deemed taxes.
11. For line 8, provide information on cost depletion as required.
12. In line 9, specify Wisconsin depreciation/amortization that exceeds federal depreciation/amortization, ensuring to attach any necessary schedules.
13. Complete line 10 by entering the amount by which the Wisconsin basis of disposed assets exceeds the federal basis, along with any applicable attachments.
14. On line 11, list the federal work opportunity credit wages if relevant.
15. In line 12, document any federal research credit expenses that you need to report.
16. For line 13, enter any other relevant amounts and ensure that you do not include any adjustments for nontaxable income from life insurance operations.
17. Calculate and enter any nontaxable income from life insurance operations from Schedule 4I, line 13 on line 14.
18. Finally, total the line 15 amounts and enter this figure on Form 4 or 5, page 1, line 4.
19. Once you have completed all the fields, you can save your changes, download the form, print it, or share it as needed.

Complete your Schedule W form online today for a smooth filing process.