Screen WIWH - Wisconsin Nonresident Withholding Return (1120)

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Sale or Exchange of Section 179 Property

Gain (loss) reported separately from Schedule 5K, line 17d (Force)
Per the Form 4797 instructions, S Corporations are required to separately report to shareholders the sale, exchange, or other disposition of assets where a Section 179 expense deduction was claimed in a prior year. These asset dispositions are no longer reported on federal Forms 4797, 4684, 6252 or 8824, but instead are separately reported in Schedule 5K, line 17d and in the Schedule 5K-1 statements. The gain or loss on the disposition of Section 179 assets is calculated from information entered in Screens WISalePT and WI8824PT in the Adjustments folder, and Screens WIK1Sale and WI8824 in the K1 1065, 1041 folder.
The application reduces the basis of the asset by the amount of the Section 179 deduction when calculating the gain or loss. This amount is included on Form PW-1.
Use this field to override the calculated amount. If
0
(zero) is entered, no adjustment is made.

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