2014 Wisconsin: Nonresidents and Capital Gains
On a nonresident return, Wisconsin only taxes income from Wisconsin sources. On capital gains and losses, a nonresident will only pay taxes on those sales that are located in Wisconsin.
Certain taxpayers, who were non-residents of Wisconsin and had capital gain sales, may have filed an incorrect Wisconsin tax return.
TurboTax has fixed this issue.
How to tell if you may be impacted
You may be affected if ALL of the following apply to you:
- You filed your non-resident Wisconsin state tax return prior to May 1, 2015 AND
- You had a long-term capital gain(s) in Part II of Wisconsin Schedule WD (Capital Gains and Losses) AND
- You had indicated that one or more of the transaction should not be included on your Wisconsin return, as it is not subject to Wisconsin tax AND
- The gain on those transactions are included on Wisconsin Schedule WD, line 22.
If you are affected, you may have overpaid your state tax. You may need to amend your Wisconsin return.
To amend your return:
- Follow these amend instructions for the TurboTax Online product.
- Follow these amend instructions for the TurboTax CD Download product.
- After you make the changes to your tax return, you will need to mail a copy of your amended state return.
- Your printed return will include instructions on how and where to mail it.
If you need to contact us, please use the phone number in the email from TurboTax and tell the representative you’re calling about the 2014 Wisconsin: Nonresidents and Capital Gains.