Screen WID - Wisconsin Capital Gains and Losses (1065)

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Capital Gains and Losses

Detail schedule
The application automatically transfers detail for the description, date acquired, date sold, proceeds, and basis from the federal D screen to the statement attached to this field.
Class Code
Description
Destination
N
Nonbusiness (default)
Wisconsin Schedule D; Form 3, line 8 or 9, column d; and Schedule 3K-1, line 8 or 9, column d for all partners
B
Business
Wisconsin Schedule D; Form 3, line 8 or 9, column d; and Schedule 3K-1, line 8 or 9, column d for all partners, and column e for nonresident and part-year resident partners
The application determines long-term or short-term status of an asset based on the dates entered in the
Date Acquired
and
Date Sold
fields in the statement. If the date fields are blank, the application defaults to short-term. To force the sale as either short-term or long-term, enter a force code from the fieldview to override the application information.
Long-term capital gain distributions
Enter the capital gains distributions in this field if the Wisconsin amount is different from the federal amount entered in the D screen. The amount entered here appears on Wisconsin Schedule D, line 12 and is classified as nonbusiness income.
Short-term capital gains / losses from Form 6781, Part II
Enter the short-term capital gains or losses from contracts and straddles in this field if the Wisconsin amount is different from the federal amount calculated on Form 6781, Part II. The amount entered here appears on Wisconsin Schedule D, line 1 and is classified as business income.
Long-term capital gains / losses from Form 6781, Part II
Enter the long-term capital gains or losses from contracts and straddles in this field if the Wisconsin amount is different from the federal amount calculated on Form 6781, Part II. The amount entered here appears on Wisconsin Schedule D, line 7 and is classified as business income.

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