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Screen WIFC — Wisconsin Farmland Preservation Credit (1040)
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Overview
Use this screen to enter information to complete Schedule FC.
General information
UltraTax CS uses information entered in this section, along with information entered in the
WIFC&H
screen, to complete Schedule FC, Pages 1 and 2.Household income
UltraTax CS uses information entered in this section, along with information entered in the
WIFC&H
screen, to complete Schedule FC, Pages 1 and 2.Spouse’s income (Married filing separate only)
If the taxpayer is married but filing a separate return, enter the spouse’s current-year income.
Dependent farm income
UltraTax CS transfers the dependents’ names and birth dates from the
Dependent
statement in the federal 1040
screen to the statement attached to this field. Use this statement to enter additional information to complete the household income calculation for Schedule FC.Credit
UltraTax CS uses information entered in this section, along with information entered in the
WIFC&H
screen, to complete Schedule FC, Pages 1 and 2.Net current year property taxes
Enter an amount if the amount of taxes entered in
Real estate
on the federal A
screen isn't the correct amount for the property on which this claim is based.Regular credit / If multiple percentages, enter current year property tax for each rate
Enter an amount if the amount of taxes entered in
Real estate
on the federal A
screen isn't the correct amount for the property on which this claim is based. If you enter 3
, also enter tax amounts for each percentage in the respective If multiple percentages, enter current year property tax for each rate: 100% / 80% / 70%
fields.Tax proration
Use this section to complete Worksheet 1 for Schedule FC, if the taxpayer’s farmland is subject to a farmland preservation agreement that was between July 1 and August 14, 1991.