ErnieS0
Expert Alumni

State tax filing

You can adjust your capital gain distributions for Wisconsin in the state section. You will see a screen Adjustments for Capital Gains and Losses? Say Yes to make adjustments.

 

TurboTax will automatically compute the deduction of 30% of the net capital gain from assets held more than one year is allowable when computing Wisconsin taxable income (60% of net capital gain on farm assets). You do not have to make that adjustment.

 

Learn more at Reporting Capital Gains and Losses for Wisconsin by Individuals, Estates, and Trusts

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