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Shareholder Information > Form 1CNS dialog (1120-WI)

Use the
Form 1CNS
 window to enter Wisconsin-specific shareholder information for Form 1CNS - Composite Wisconsin Individual Income Tax Return for Nonresident Tax-Option (S) Corporation Shareholders.
You'll need to have a client with Wisconsin attached. Select
View
,
Shareholder Information
, the
Wisconsin
 tab, then
Form 1CNS
.

Fields and buttons

Select the appropriate shareholder's name from the drop-down list.
Enter the code for the shareholder's filing status from the following table. The composite return tax calculates differently depending on the shareholder's filing status. See Form 1CNS instructions for the differences.
  • H: Head of Household
  • J: Married Filing Joint
  • M: Married Filing Separate
  • S: Single (default)
Select the spouse's Social Security number if the spouse is a shareholder of this corporation and the husband and wife are filing their return using the Married Filing Joint filing status. UltraTax CS matches the Social Security numbers entered here to combine the income of both shareholders on Form 1CNS, Page 2.
Enter the individual shareholder's federal adjusted gross income. UltraTax CS transfers this amount to Form 1CNS, Page 2. If you leave this blank, the individual shareholder is taxed at a flat rate of 7.65 percent. This field is not applicable for estate and trust shareholders.
If this is an amended composite return, enter the amount of tax previously paid on behalf of the shareholder. UltraTax CS transfers this amount to Form 1CNS, Page 2.
Enter the amount of alternative minimum tax attributable to the shareholder. UltraTax CS transfers this amount to Form 1CNS, Page 2.
Enter the amount of passive activity adjustment for the individual shareholder. If you enter a positive adjustment, the amount in
WI income
 on Form 1CNS, Page 2 increases. If you enter a negative adjustment,
WI income
 decreases.
Enter the amount of net operating loss carried forward for the individual shareholder. Enter the amount as a positive number to decrease
WI income
 on Form 1CNS, Page 2.
Enter the amount of short-term capital loss carried forward for the individual shareholder. Enter the amount as a positive number to decrease
WI current-year short-term capital gains
 or to increase
short-term capital loss
.
Enter the amount of long-term capital loss carried forward for the individual shareholder. Enter the amount as a positive number to decrease
WI current-year long-term capital gains
 or to increase
long-term capital loss
.
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