Partner'S Instructions For 2000 Schedule 3k-1 - Wisconsin Department Of Revenue (Page 2 of 2) in pdf

If the Wisconsin amount for any share item

consin and federal amount of a share item

Corporations – Enter the amount from col-

on lines 1 through 11, 13, and 15 differs from

that is allowable in computing Wisconsin net

umn c on Form 4 or 5, Schedule V, line 1.

the federal amount, you must account for this

income by entering the amount from Sched-

Tax-Option (S) Corporations – Enter the

difference on your Wisconsin franchise or

ule 3K-1, column c, on the appropriate line

amount from column c on Schedule 5K,

income tax return. How you account for the

of Form 3, Schedule 3K, column c.

line 16, column c.

difference depends on the share item, the

Corporations – If you are filing Form 4 or

reason for the difference, and the return you

Lines 17 and 18 – Differences in the amount

5, account for any difference between the

are filing.

of income that is exempt for federal and

Wisconsin and federal amount of a share item

Wisconsin purposes are shown on line 17,

Individuals, Estates, and Trusts – If the dif-

that is allowable in computing Wisconsin net

column c. Increases or decreases in the

ference arises because a provision of the

income by entering the amount from Sched-

amount of nondeductible expenses are shown

Internal Revenue Code doesn’t apply for

ule 3K-1, column c, on Form 4 or 5, Schedule

on line 18, column c.

Wisconsin or a federal law change becomes

V or W, as appropriate.

effective for Wisconsin at a different time,

Lines 19 and 20 – Reduce the Wisconsin

Tax-Option (S) Corporations – If you are

you must complete Wisconsin Schedule I

basis of your partnership interest by the Wis-

filing Form 5S, account for any difference

(Schedule B for estates and trusts) before

consin distributions shown on lines 19 and

between the Wisconsin and federal amount

filling in your Wisconsin income tax return.

20, column d. If these distributions exceed

of a share item by entering the amount from

If the difference results from the partnership

the Wisconsin basis of your partnership in-

Schedule 3K-1, column c, on the appropri-

making different elections for federal and

terest and you were a Wisconsin resident

ate line of Form 5S, Schedule 5K, column c.

Wisconsin purposes, you must recompute the

when you received the distributions, treat the

federal adjusted gross income that you report

Line 12a – Enter the amount from line 12a,

excess as a gain from the sale or exchange

on your Wisconsin return. If the difference

column d, on the appropriate line on Wis-

of property. Enter any Wisconsin gain on the

is a modification allowed in computing Wis-

consin Schedule DC.

appropriate line of Wisconsin Schedule WD.

consin adjusted gross income, the treatment

depends on which share item is affected and

Line 12b – Individuals, estates, and trusts

Line 21 – Individuals combine the amount

the return you are filing.

enter the amount from line 12b, column d,

from column d with your gross income from

on Schedule MS, line 11.

other sources (if any) that is reportable to

Lines 1, 2, 3, 4a, 4b, 4c, 4f, 5, 7, 9, 11, and 15:

Wisconsin to determine whether you must

• If you are filing Form 1, account for any

Partnerships enter the amount from line 12b,

file a Wisconsin income tax return. See the

modification to one of these share items

column d, on the worksheet on Schedule 3Z.

instructions for Form 1 or Form 1NPR for

by entering the amount from Schedule

information about the filing requirements.

3K-1, column c, on Form 1, as appropri-

Corporations and tax-option (S) corpora-

ate.

tions enter the amount from line 12b, column

Line 22 – If applicable, the partnership has

d, on Schedule Z-1.

• If you are filing Form 1NPR, include in

provided supplemental information or has

column B on the appropriate line of

listed in the space provided, or on attached

Line 12c – Enter the amount from line 12c,

schedules, your share of items not included

Form 1NPR, along with any other Wiscon-

column d, on the appropriate line on Wis-

sin income or loss, the Wisconsin amount

on lines 1 through 21. This listing should

consin Schedule HR.

(column d) of any share item reported on

include the federal amount, adjustment, and

one of these lines, which is modified for

Wisconsin amount for each item. Account

Note: The historic rehabilitation credit

for any other share items listed on line 22 as

Wisconsin income tax purposes.

reduces the Wisconsin basis of your partner-

necessary to include the taxable or deduct-

• If you are filing Form 2, account for any

ship interest.

ible amount of each item as computed under

modification to one of these share items

Wisconsin law in your Wisconsin income.

by entering the amount from Schedule

Lines 14a through 14e – Individuals, es-

3K-1, column c, on Form 2, Schedule A.

tates, and trusts enter the net amount from

Individuals, Estates, and Trusts – If interest

column c of lines 14a through 14e on Wis-

income from United States government

Lines 4d and 4e: Enter the Wisconsin

consin Schedule MT, line 8.

obligations is listed, you must make an

amounts (column d) of these share items on

adjustment on your Wisconsin return since

the appropriate lines of Wisconsin Schedule

Partnerships and tax-option (S) corpora-

this income is taxable for federal income tax

WD (Schedule WD (Form 2) for estates and

tions enter the amounts from column c on

purposes, but not for Wisconsin purposes. If

trusts).

the appropriate lines of Schedule 3K or

you are filing Form 1, subtract this interest

Schedule 5K, column c.

income on Form 1, line 7. If you are filing

Line 6: If the federal and Wisconsin amounts

Form 1NPR, don’t include this interest

differ, see the instructions for Part II of Wis-

Corporations may disregard this line.

income on Form 1NPR, line 2, column B. If

consin Schedule T and recompute a federal

you are filing Form 2, subtract the United

Form 4797 as instructed.

Line 16 – Interest income that is exempt from

States government interest on Schedule A,

federal income taxes but taxable by Wiscon-

line 8.

Lines 8, 10, 11, and 13: If the Wisconsin

sin, such as state and local government bond

amount of charitable contributions or the

interest, is shown in column c.

If you are a member of a limited liability

amount of any other itemized deduction dif-

company (LLC) treated as a partnership and

fers from the federal amount, adjust the

Individuals – If you are filing Form 1, enter

the LLC has reported taxes paid to other

deduction items from federal Schedule A

the amount from column c on Form 1, line 2.

states on this line, enter the total amount of

when figuring the Wisconsin itemized deduc-

If you are filing Form 1NPR, include the

taxes paid to other states on the “Net income

tion credit (Form 1, Schedule 1, or Form

amount from column c on Form 1NPR,

tax paid to other states” line (Form 1, line 42,

1NPR, Schedule 2). Increase or decrease, as

line 2, column B.

or Form 1NPR, line 60) of your individual

appropriate, the amount from federal Sched-

income tax return. If you claim this credit,

ule A by the amount(s) on Schedule 3K-1,

Estates and Trusts – Enter the amount from

you must attach a copy of Schedule 3K-1 to

column c.

column c on Form 2, Schedule A, line 2.

the Form 1 or Form 1NPR you file with the

department.

Partnerships – If you are filing Form 3,

Partnerships – Enter the amount from col-

account for any difference between the Wis-

umn c on Schedule 3K, line 16, column c.

Partner'S Instructions For 2000 Schedule 3k-1 - Wisconsin Department Of Revenue Page 2

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