topic Does 2019 Wisconsin have a Schedule T in its forms for filing? Can you adjust basis without it? in State tax filing

Does 2019 Wisconsin have a Schedule T in its forms for filing? Can you adjust basis without it?

fr44 — Tue, 24 Mar 2020 22:14:32 GMT

Re: Does 2019 Wisconsin have a Schedule T in its forms for filing? Can you adjust basis without it?

DavidD66 — Tue, 24 Mar 2020 23:49:22 GMT

Wisconsin does have a Schedule T - Transitional Adjustments. This schedule is not supported in TurboTax. You can obtain the form from Wisconsin Schedule T. You can complete the schedule and then print and mail both it and your tax return.

Re: Does 2019 Wisconsin have a Schedule T in its forms for filing? Can you adjust basis without it?

rayehl — Wed, 17 Feb 2021 18:50:35 GMT

Is Wisconsin Schedule T the correct form for showing Gain on sale of property in another state included in federal income? After reading Schedule T instructions and form it does not seem to apply to out of state capital gains. What is appropriate form to show differences in Federal income versus my resident WI because real asset was sold in Colorado?

Re: Does 2019 Wisconsin have a Schedule T in its forms for filing? Can you adjust basis without it?

MaryK4 — Wed, 17 Feb 2021 22:08:08 GMT

Yes, WI Schedule T would also apply to residents who sell property in another state, but only if it is required because the property had a different basis than used for the federal tax on business property.

Schedule T applies if you sell or an asset which has a different basis for Wisconsin than for federal income tax purposes or you claim depreciation or amortization on an asset which has a different basis for Wisconsin than for federal income tax purposes at the time the property is acquired.

@rayehl