Solved: Where to record WI Angel Investment Tax Credit?
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New Member

Where to record WI Angel Investment Tax Credit?

Is there a place to input these credits in TTax?

I know we also have to send in Schedule VC.

Thanks.

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Level 9

Where to record WI Angel Investment Tax Credit?

If you go to the Wisconsin Summary page, click on Credits and Taxes, under Business and investment credits, select Other Tax Credits, then you will see Angel Investment Credit on the list.

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Level 9

Where to record WI Angel Investment Tax Credit?

If you go to the Wisconsin Summary page, click on Credits and Taxes, under Business and investment credits, select Other Tax Credits, then you will see Angel Investment Credit on the list.

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

New Member

Where to record WI Angel Investment Tax Credit?

Thanks!  We made a single investment, but the WEDC and sent us 2 verfications, one to me and one to my wife - each nofication has a different claim # and lists half of the investment and half of the credit.
I.e.  Each one notice has both of these lines:
Eligible Investment                Investment Credit
Half the investment $              Half the credit
Half the investment $              Half the credit

Do I enter them as separate investments and credits in TTax?
Thanks again.
Level 9

Where to record WI Angel Investment Tax Credit?

Yes, you will want to make separate entries.
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New Member

Where to record WI Angel Investment Tax Credit?

In the bottom half, for "ENTITY" do they want the Investor Name and EIN - as it is presented on the WEDC verification?
Level 9

Where to record WI Angel Investment Tax Credit?

Yes!
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New Member

Where to record WI Angel Investment Tax Credit?

Thanks a lot!
New Member

Where to record WI Angel Investment Tax Credit?

I'm still a bit confused.
We invested directly in a new company.
It appears that we should only complete either the top or bottom half of the form, because when I do both, TTax adds it all up.
Further, if I claim too much credit, TTax shows a refund.  It seems to me that we should just use enough of the credit to make the refund 0, else we will pay taxes on the refund next year.
Is that correct?
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