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Screen WII&T — Wisconsin Adjustments to Federal Income (1040)

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Overview

Use this screen to complete portions of Schedule I and T, adjust for Wisconsin differences in Section 1231 loss carryovers, Section 179 expense, and Section 280F recapture information.

Sale information

UltraTax CS uses information you enter in this section, along with other information, to complete Schedules I and T on Form 1 or Form 1NPR.
Sale of capital assets
UltraTax CS enters information in this statement from the
Schedule for detail
 statement in the federal
B&D
 screen. For all entity types, use this statement to make adjustments to the federal adjusted basis as required by Wisconsin law.
If the Wisconsin information is different from the federal, use the following steps to edit the statement:
  1. Locate a specific item, then enter the amount in the
    WI Basis if Diff
     column.
  2. Point the cursor on the item you want to change.
  3. Select
    Statement
    , then
    Insert
    .
  4. Add a new item with the correct capital asset amounts.
  5. Point the cursor on the original item.
  6. Select
    Statement
    , then
    Delete
    .
Generally, any changes made to the federal statement are reflected in the state statement. However, items that are deleted at the state level are not transferred back from UltraTax/1040, and subsequent transfers from UltraTax/1040 don't delete items added at the state level.

Schedule I — Adjustments to Federal Adjusted Gross Income

UltraTax CS uses information you enter in this section, along with other information, to complete Schedule I, column B, for Form 1 or Form 1NPR.
Federal modified adjusted gross income (Force)
Enter the amount of federal modified adjusted gross income to replace recalculated federal modified adjusted gross income used in the Wisconsin proforma Form 8582.
Other adjustments to federal adjusted gross income
Enter the amount of federal modified adjusted gross income to replace recalculated federal modified adjusted gross income used in the Wisconsin proforma Form 8582.
Federal Schedules C, F, E, and Other Income are automatically recalculated and differences are presented on Schedule I.

Adjustments to Itemized Deductions

UltraTax CS uses the information in this section, along with other information, to complete Schedule I, column B, for Form 1 or Form 1NPR.
Other adjustments to itemized deductions
For Part II, Itemized Deductions, enter the following in the statement.
  • A description for each adjustment.
  • An amount per the current year federal return.
  • An amount per the IRC in effect for Wisconsin.
UltraTax CS adjusts federal Schedule A medical deductions, charitable contributions, and job expenses subject to AGI limitations, for any adjustment to AGI from Schedule I.

Adjustments for Depreciation Differences

UltraTax CS uses the information in this section to complete the Wisconsin version of federal Form 4797, Part IV, Recapture Amounts Under IRC Sections 179 and 280F.
Threshold cost of Section 179 property placed in service in (Force) / … / Business income for Section 179 (Force)
If the section 179 information is different from the federal, enter the Wisconsin amounts in the
Wisconsin, if different
 column. Enter
0
 (zero) if the item doesn't apply to Wisconsin.

Sales of Business Property Carryover Information

Use this section to enter unrecaptured IRC Section 1231 losses.

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