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Screen WISale - Wisconsin Sales (1065)

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Forms 4797 and 6252 - General Information

Does not qualify for installment sale treatment
Enter
X
 to indicate that a current year installment sale doesn't qualify for installment sale treatment for Wisconsin purposes. If
X
 is entered, the installment sale information is disregarded and the entire gain / loss transfers to the return.
State does not conform to section 179 QRP treatment
The application automatically marks this box to indicate that the corresponding federal sale of section 179 QRP doesn't apply for state purposes, so the sale isn't reported. The screen is completed for consistency with the corresponding federal screen unit.

Form 4797, Part III - Recapture

Additional depreciation after 1975 / … / Applicable payments excluded from income under section 126
These fields pertain to the Wisconsin version of Form 4797, Part III. The numbers shown to the left of the items, such as 28(a), refer to the line numbers on the Wisconsin version of Form 4797, Page 2. Don't use this section to enter assets that were sold at a loss. If amounts are entered in detailed asset data entry, the application displays federal amounts for the Wisconsin version of Form 4797, Part III, lines 26(a), 26(b), 26(d), 27(a), 27(b), 28(a), and 29(a). The application displays the appropriate state depreciation allowed or allowable on the Wisconsin version of Form 4797, Part III, line 25(a) if amounts are entered in detailed asset data entry.

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