Nonresident Wisconsin Return

[rynlee]

Hello, I am working on a nonresident Wisconsin return.  Wisconsin has pulled in the info from my Federal return about Capital Gains and Losses.   On the Capital Gains and Losses Worksheet in forms view, I see that there's an option to omit these transactions from being included on my Wisconsin return and indicate that it is not subject to Wisconsin tax.  How do I know if it should or should not be omitted?

[JamesG1 · Accepted solution]

You would exclude a capital gains and losses transaction if it is not taxable on a nonresident Wisconsin state income tax return because:

• you were not a resident of Wisconsin, and
• the property that you sold was not located in Wisconsin.

2023 Wisconsin Schedule WD Instructions here states:

Nonresidents and Part-Year Residents

Nonresidents should include only gain or loss from Wisconsin sources on Schedule WD. Part-year residents should include the gain or loss received from all sources while a Wisconsin resident and the gain or loss from Wisconsin sources while a nonresident.

[rynlee]

Thank you!