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?
You'll need to sign in or create an account to connect with an expert.
You would exclude a capital gains and losses transaction if it is not taxable on a nonresident Wisconsin state income tax return because:
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.
You would exclude a capital gains and losses transaction if it is not taxable on a nonresident Wisconsin state income tax return because:
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.
Thank you!
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
tina484705
New Member
acb7b540bec1
New Member
med87-aol-com
New Member
rbalakri
New Member
natalieclaire
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.