E-file diagnostic: Wisconsin excess business interest expense and IRC 965(c) deductions

Wisconsin: Excess business interest expense and IRC 965(c) deductions are included in Other deductions to be reported federal column only. Wisconsin does not recognize these items and adjustment is required for Other deductions . Please make adjustment for Other deductions. Navigation: Organizer / States / Wisconsin / State Adjustments / Deductions adjustment tab / Other deductions / drill down to Other deductions detail.
This happens when the Federal form 1065, page 4, Schedule K, Line 13d Other deduction has entry for Excess business interest expense and there’s no adjustment is provided at Wisconsin’s Other Deductions.

Solution

  1. Go to
    Organizer
    ,
    States
    , then select
    Wisconsin
    .
  2. Select
    Adjustments
    , then open the
    Deduction Adjustments
    tab.
  3. Find to
    OTHER DEDUCTIONS ADJUSTMENTS
    section.
  4. Drill down on
    Other deductions
    line.
  5. Populate and make adjustment for other deductions based on the rules given in the diagnostic.
  6. Do a full recompute and recreate the e-file.
Chat now

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close