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Screen WIGen - Wisconsin Partnership Return (1065)
Show all hidden content
General Information
Final return
If the federal return is final and this field is blank, the Wisconsin return and Wisconsin Schedules 3K-1 are marked as final. If the federal return isn't final, but you want to mark the Wisconsin return as final, enter
1
. If you don't want to mark the Wisconsin return as final when the federal return is final, enter 2
.Lower-tier entity made election to pay entity tax
Enter information in this field if the taxpayer has received a 3K-1 where the lower-tier entity made an election to pay tax at the entity level.
Designee’s name
Enter information in this field if the taxpayer wants to appoint a designated 3rd party to discuss the return with the Wisconsin Department of Revenue.
Designee’s personal identification number
Enter the personal identification number that the taxpayer chooses for the appointed designated 3rd party. The designated 3rd party must have this PIN number before the Wisconsin Department of Revenue will discuss return information.
Partners' Capital Accounts
If the partner’s capital account accounting method selected in the federal K1Misc screen is Tax Basis, the application uses information in this section to complete Schedule 3K-1, line L. If the method selected is anything other than Tax Basis, the application uses the amounts from the federal capital account analysis to complete Schedule 3K-1, line L.
Separate accounting method used
Enter
X
if the partnership uses the separate accounting method to calculate Wisconsin income. The application automatically allocates farms, farm rentals, rentals, and royalties based on the state postal code entered in the WIF, WIFR, and WIRent screens for partners that are nonresidents and part-year residents. If this field isn't marked, the application ignores the postal code and uses the Wisconsin partner amounts multiplied by the apportionment percentage for nonresident and part-year resident partnersThe application also marks the appropriate checkbox on Schedule 3K-1. The application won't calculate in-state and out-of-state amounts for Section 179 expense. Use the
Section 179 expense
field available in the WISepK screen to allocate Section 179 expense.General footnote
Use the statement to enter any miscellaneous information that needs to be conveyed with the return. The general footnote displays as a separate item in each collation.
Capital account - beginning of year
Allocate the current year’s beginning capital on an absolute dollar basis to the partners by selecting
Ptr Alloc
.Capital contributions
The application automatically uses the amounts from the federal M1M2 screen. To change the federal amounts for Wisconsin purposes, enter the revised amount in this field.
Other increases
The application automatically transfers amounts from the federal M1M2 screen to this statement. 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.
Property distributions
The application automatically transfers amounts from the federal M1M2 screen to the statement. 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 decreases
The application automatically transfers amounts from the federal M1M2 screen to the statement. 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.
Description of differences between Wisconsin and federal tax basis
Describe the differences between Wisconsin and federal tax basis in the statement. This information prints as a statement attached to Schedules 3K-1.