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Screen WISTCr — Wisconsin Credit for Taxes Paid to Other States (1040)

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Overview

Use this screen to enter information to calculate the credit for taxes paid to other states. If UltraTax CS is used to calculate another state's return and it generates a credit for taxes paid to another state, UltraTax/1040-WI includes a copy of that return. When filing on paper, a paper copy prints. When filing electronically, a PDF of the nonresident return is attached.
Wisconsin taxes only 70% of the net gain on the sale of assets held more than 1 year (40% for net gain on the sale of farm assets). Most states tax 100% of such gain.
When the credit is claimed for tax paid to another state for gain on the sale of property that was held more than 1 year, the amount of income taxable by Wisconsin is generally less than the amount taxed by the other state.
The calculation for
Income taxable to Wisconsin and the other state: Calculated
 uses the Non-Resident in-state AGI reduced by 30% of
Capital gain (loss)
.
If
Farm income (loss)
 has an amount greater than zero, then the Non-Resident in-state AGI is reduced by 40%.
An FYI diagnostic appears when there's an amount in
Capital gain (loss): Calculated
. If there's an entry in
Income taxable to Wisconsin and the other state: Force
, then the diagnostic will clear.

Other State Information

Wisconsin has reciprocity agreements with Illinois, Indiana, Kentucky, and Michigan. UltraTax/1040-WI doesn't transfer wage information for states with reciprocity agreements with Wisconsin.
State postal code / Other state name
If you're filing an UltraTax CS nonresident return, UltraTax/1040-WI completes the
State postal code
 and
Other state name
 for the resident return. If you're not using UltraTax CS to file a nonresident return, enter the
State postal code
, and UltraTax/1040-WI completes the
Other state name
.
Income taxable to Wisconsin and the other state
If you're filing an UltraTax CS nonresident return, UltraTax/1040-WI completes
Income taxable to Wisconsin and the other state
 for the resident state return. Use the
Force
 column to enter
Income taxable to Wisconsin and the other state
 if it's different from the calculated amount. If you're not using UltraTax CS to file a nonresident return for which you would like to claim this credit, enter the taxable income from that state's return in the
Force
 column.

Double Taxed Income

Use this section to enter amounts to calculate the credit for taxes paid to other states. Wisconsin has reciprocity agreements with Illinois, Indiana, Kentucky, and Michigan. UltraTax/1040-WI doesn't transfer wage information for states with reciprocity agreements with Wisconsin.
Net tax after refundable and nonrefundable credits
If you're filing an UltraTax CS nonresident return, UltraTax/1040-WI completes
Net tax after refundable and nonrefundable credits
 for the resident state return. Use the
Force
 column to enter the
Net tax after refundable and nonrefundable credits
 amount if it's different from the calculated amount. If you're not using UltraTax CS to file a nonresident return for which you would like to claim this credit, enter the tax paid to the other state in the
Force
 column.

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