Skip to main content

Solutions

Products

Recommended products

Questions? We are here to help.
Contact us

Purchase

Questions? We are here to help.

Resources

Screens

Screen WIFC&H — Wisconsin Household Income Calculation for Credits (1040)

Show all hidden content

Overview

Use this screen to enter information that applies to both Schedules FC and H.

Shared Information

UltraTax CS uses the information entered in this section to complete the Questions section on Schedules FC and/or H.
Amended
Use this field to mark the
Amended
 checkbox on Schedule FC or Schedule H.
Number of acres of land on which claim is based
Enter the number of acres of land on which the claim is based.
Schedule H / FC / FC-A (Force)
Select
1
 to use the Schedule H credit, or
2
 to use the Schedule FC credit, or
3
 to use the Schedule FC-A credit.
Suppress calculated Schedule H / FC / FC-A credit
Use this field if the taxpayer qualifies for the H / FC / FC-A credit, but you choose to suppress it from calculating.
Depreciation: Partnerships, LLCs, S corporations
Enter the taxpayer’s distributive share of partnership, limited liability corporation, and S Corporation depreciation.
Depreciation: Tax-option S corporations
Enter the taxpayer’s distributive share of depreciation from tax-option S Corporations, excluding the taxpayer’s distributive share of partnership and S Corporation depreciation.
Amortization: Partnerships, LLCs, S corporations
Enter the taxpayer’s distributive share of partnership, limited liability corporation, and S Corporation amortization.
Amortization: Tax-option S corporations
Enter the taxpayer’s distributive share of amortization from tax-option S Corporations, excluding the taxpayer’s distributive share of partnership and S Corporation amortization.
Depletion expense
Enter the taxpayer’s distributive share of depletion expense, excluding amounts from partnerships or tax-option S Corporations.
Intangible drilling costs
Enter the taxpayer’s distributive share of intangible drilling costs, excluding amounts from partnerships or tax-option S Corporations.
Nontaxable deferred compensation (Force)
UltraTax CS calculates the amount of deferred compensation excluded from current-year income by totaling the amounts entered on W-2s for Box 12 that are coded
D
,
E
,
F
,
G
,
H
,
S
, or
Y
. Use this field to enter a different amount.
Capital loss carryforward used or Net operating loss carryforward or carryback (Force)
UltraTax CS calculates the amount of capital losses to be included in household income for purposes of Schedules FC and H. The amount used is from Schedule WD line 28 or the total of Schedule WD lines 7 and 16, whichever is less. Use this field to enter a different amount.
Income nonresident or part-year spouse
Enter the income of the taxpayer’s nonresident or part-year spouse for the time the taxpayer and spouse resided in the same homestead.
Nontaxable income sources outside Wisconsin
Enter the amount of income received from sources outside Wisconsin that was excluded from Wisconsin taxable income.
Resident manager rent reduction
Enter the amount that a manager’s rent is reduced in return for services rendered.
Housing allowance for clergy (Force)
UltraTax CS takes the amount of housing allowance from the federal W2 screen, box 14, code
2
 as an add-back to income on Schedule H and Schedule FC. Use this field to enter a different amount.
Nontaxable income of a Native American (Force)
UltraTax CS takes the Income of a Native American, which was subtracted on Form 1, and adds it back on Schedule FC or Schedule H.
The following federal inputs are recognized.
  • W2, which has a state use code of
    2
     in box 15 in the
    W2
     screen.
  • The
    Other income
     statement, which has a state use code of
    21
     in the
    Income
     screen.
  • Any other income entered with a state use code of
    21
     in the
    1099M
     screen.
Use this field to force a different amount.
Scholarships, fellowships and grants
Enter the amount of nontaxable scholarships, fellowships, and grants. Don't include student loans or amounts entered elsewhere.
Nontaxable military compensation or cash benefits
UltraTax CS transfers the amount of nontaxable military pay from the federal
W2
 screen, box 12, code
Q
, to the nontaxable military compensation line of Schedule H and Schedule FC. Use this field to change the calculated amount.
SSI, SSI-E, and caretaker supplement
Enter the amount of Social Security benefits received that haven’t been entered elsewhere. UltraTax CS uses benefits entered in the federal
Income
 screen.
Veterans pensions and disability payments
Enter the amount of nontaxable pension and disability income that was excluded from adjusted gross income.
Workers’ compensation and loss of time insurance (Force)
UltraTax CS transfers the amount of nontaxable workers’ compensation from the federal
W2
 screen, box 12, code
J
 to the line on Schedule H and Schedule FC. Use this field to enter a different amount.
Support money (Court ordered)
Enter the amount of court-ordered support payments received in the current year, including child support and family maintenance but excluding foster care, voluntary support, and amounts entered elsewhere.

Public Assistance

Use this section to enter the amounts of all AFDC, Wisconsin Works payments for community service jobs (CSJ) and transitional placements (TP), non-legally responsible relative AFDC (NLRR), kinship care (KC), W-2 payments as a caretaker of a newborn child (CNC), county relief, and other cash public assistance the taxpayer received for each month of the current year.
Sources for other amounts
Use this statement to describe and list the sources of the amounts entered in the
Other
 fields in this section.

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close