Wisconsin Form 2K-1

[LabLean]

I received a Wisconsin 2K-1 form with an entry that does not have a place to enter it in TurboTax Deluxe 2020. Part 3, line 11c has an entry named "XS DEDUCTIONS". Where/how do I enter it in TurboTax?

[ThomasM125]

Part III on Wisconsin form 2K-1 references deductions. You would have to know more about what the deduction was for to know where to enter it in TurboTax. Then, check all the boxes in the entry screens for the K-1 in TurboTax so you can review your options and choose which entry is appropriate.

[LabLean]

This question is regarding an inheritance I received from my aunt's estate. There are only two amounts listed on the K-1 (and Wisconsin 2K-1): 11A Excess Deductions and 11C Short-term capital loss. I completed the K-1 form in TurboTax and entered both amounts. Can I assume then that this data will flow into my Wisconsin State file in TurboTax and all is well?

[MaryK4 · Accepted solution]

Yes, Wisconsin uses the federal adjusted gross income as the tax base so TurboTax will include it on the state return.  If any adjustments are needed, you will enter in the state section.  (TurboTax will guide you through any questions).

@LabLean