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Screen WIRent — Wisconsin Rent and Royalty Property (1040)

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Overview

Use this screen to calculate Wisconsin rental income and the Wisconsin Reconciliation Report.
  • General information that appears in the WI Schedule E General Information section is automatically transferred from the federal
    Rent
     screen.
  • Income and Expenses section: For all returns,
    Total Sources
     calculations always include 100 percent of income and expenses entered on the federal
    Rent
     screen. For part-year and nonresident returns, activities with a state postal code of
    WI
     that aren't allocated using the state allocation spreadsheet include 100 percent of income and expenses in the
    Wisconsin Sources
     calculations; activities with any other state postal code exclude all income and expenses for the
    Wisconsin Sources
     calculations. When data is entered into the state allocation spreadsheet,
    Wisconsin Sources
     amounts are calculated by multiplying the total income and total expenses by the amount in
    Percent of federal allocated to state
     entered in the federal
    St CO
     screen with a state postal code of
    WS
     (Wisconsin Source). Blank
    WS
     screen amounts default to
    WI
     screen amounts.
  • Information that appears in the Passive Activity and Other Information section is automatically transferred to this input screen from the federal
    Rent-2
     and
    St CO
     screens.

Income and Expenses

Gross income adjustment (Total sources)
Use this field to adjust Total Sources of Gross income under Wisconsin law.

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