Do we need to file a Wisconsin tax return to avoid a matching notice on the 1099-S from the Wisconsin closing?
you file form 1 NPR (non-resident form ) because your gross income for Wi purposes will be over $2,000
Since this is a short-term capital gain—not W-2 income—how do I fill out the Illinois and Wisconsin returns? Does the answer change if it is a capital loss and it is more than offset by other (Illinois) capital gains?
you prepare your federal return and then your non-resident Wi return reporting only the sale of the Wi real estate in the WUI column (not other capital gains you derived as an Illinois resident)
then you prepare your resident IL return taking credit on schedule CR for taxes paid to Wi
