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Screen WIK-2 - Wisconsin Schedule 3K - Deductions (1065)

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Deductions

Contributions: Cash / Noncash / Capital gain property / Contributions
The application automatically transfers amounts from the federal K-2 screen and the totals from federal Form 8283 to the statements attached to these fields. To exclude an item from the state return, delete the amount, enter a 0, or delete the entire line item from the statement. The application displays the modified column in black and won't overwrite the new data with subsequent federal-to-state data transfers. For more information (including details on setting a user preference to mark fields for which you overruled the transferred amount), see Statements overview.
Other deduction items: Other health insurance
The application automatically transfers amounts from the federal K-2 screen. To change the amounts for the Wisconsin return, enter data in the applicable field. The application includes the amount entered in this field on Form 3, Part II, line 13d, column d, Other deductions. This amount is combined with amounts entered in the
Health insurance considered as guaranteed payments to partner’s
 field and described as health insurance for partners in the Other Deductions statement.
Educational assistance benefits / … / Other pensions and IRAs
The application automatically transfers amounts from the federal K-2 screen. To change the amounts for the Wisconsin return, enter data in the applicable field. The application includes the amount entered in this field on Form 3, Part II, line 13d, column d, Other deductions.
Form 4684 short-term loss from income producing property
Select
Ptr Alloc
 to specially allocate the amount being transferred from Wisconsin Form 4684, Page 2. This amount is automatically included in the total for Form 3, Part II, line 13d, column d, Other deductions.
Other deductions
The application automatically transfers amounts from the federal K-2 screen to the statement. To classify a statement item for Wisconsin purposes, enter the appropriate code from the fieldview list of available options.
The application adds the items entered in the statement attached to this field to the following items:
  • Health insurance coverage for partners
  • Wisconsin depreciation and amortization amounts from all activities (that were specially allocated and not reported by activity on the federal return)
  • Educational assistance benefits
  • Dependent care benefits
  • Preproductive period expenses
  • Commercial revitalization deduction from rental real estate activities
  • Penalty on early withdrawal of savings
  • Pensions and IRAs
  • Reforestation expense deduction
  • The amount from Wisconsin Form 4684 short-term loss from income producing property
In addition to the deductions coded as D, Other deductible expenses for the composite return, the following deductions are included for composite partners on Form 1CNP, Page 2, column C1:
  • Deductions for royalty income
  • Section 59 (e)(2) expenditures
  • Wisconsin depreciation and amortization amounts from all activities (that were specially allocated and not reported by activity on the federal return)
  • Educational assistance benefits
  • Preproductive period expenses
  • Commercial revitalization deduction from rental real estate activities
  • Penalty on early withdrawal of savings
  • Pensions and IRAs
  • Reforestation expense deduction
  • The amount from Wisconsin Form 4684 short-term loss from income producing property

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