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Screen WINOL — Wisconsin Net Operating Loss (1040)

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Overview

Use this screen to enter information to adjust the current-year net operating loss.

General Information

UltraTax CS uses information in this section to complete the Wisconsin NOL Schedule.
Federal standard deduction
Use this field to force an amount different from the federal standard deduction calculated on federal Form 1040. An entry here affects the calculation of the current year NOL on Schedule NOL1.
Nonbusiness capital loss
Use this field to force an amount different from the federal non-business capital loss, which is reported on the federal NOL Worksheet 1. An entry here affects the calculation of the current year NOL on the Wisconsin Schedule NOL1.
Nonbusiness capital gain
Use this field to force an amount different from the federal non-business capital gain, which is reported on the federal NOL Worksheet 1. An entry here affects the calculation of the current year NOL on the Wisconsin Schedule NOL1.
Nonbusiness deductions
Use this field to force an amount different from the calculated federal and Wisconsin nonbusiness deduction amount, which is reported on Schedule NOL1.
Nonbusiness income (Other than capital gains)
Use this field to force an amount different from the calculated federal and Wisconsin non-business income amount, which is reported on Wisconsin Schedule NOL1.
Business capital loss
Use this field to force an amount different from the calculated amount for business capital losses, which are reported on Wisconsin Schedule NOL1.
Business capital gain
Use this field to force an amount different from the calculated amount for business capital gains, which are reported on Wisconsin Schedule NOL1.
Net operating loss from prior years
Use this field to force an amount different from the calculated deductible NOL amount from Schedule NOL2, Part I.
Net operating loss for (Enter as positive amount)
Use this field to force an amount different from what is calculated as the current year NOL on Schedule NOL1. Enter the NOL as a positive amount.
Capital gain exclusion (Schedule NOL1 and Schedule NOL2)
Use this field to force an amount different from the amount calculated on Schedule WD. This amount transfers to the capital gain exclusion line on Wisconsin Schedule NOL1, and part II on Schedule NOL2.
Exemptions
Use this field to force an amount for Wisconsin exemptions different from the amount calculated on Form 1. An entry here transfers to the exemption lines on Schedule NOL2.

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