Schedules H & H-Ez Instructions - Wisconsin Homestead Credit - Wisconsin Department Of Revenue

Line Instructions

• 11b Workers’ compensation, income continuation, and

(S) corporation depreciation, Section 179 expense,

loss of time insurance (e.g., sick pay) Fill in the total

depletion, amortization, and intangible drilling costs. This

amount received in 2006 from these sources. Nontaxable

information will not be on the reporting form (Schedule K-1)

sick pay is generally reported in box 12 of the wage and tax

that you receive from the partnership, LLC, or tax-option (S)

statement, Form W-2, preceded by the prefix J.

corporation. It must be obtained either by contacting the

partnership, LLC, or tax-option (S) corporation, or, if available

• 11c Gain from sale of home Fill in the gain from

to you, from the tax return of the partnership, LLC, or tax-

the sale or exchange of a principal residence excluded for

option (S) corporation.

federal tax purposes. Attach a schedule showing the

If the partnership, LLC, or tax-option (S) corporation

computation of the gain (selling price minus adjusted basis

did not claim any of these expenses, write “None” in Part II

minus expense of sale).

of federal Schedule E, near the entity’s name.

CAUTION: Do not include nonrecognized gain from an

• 11h Car or truck depreciation (standard mileage rate)

involuntary conversion (for example, destruction or

If car or truck expenses were claimed using the standard

condemnation) of a principal residence.

mileage rate, 17¢ per mile is considered depreciation.

Multiply the number of miles claimed by 17¢, and include

• 11d Other capital gains not taxable Include the 60%

that amount on line 11h. Write the number of miles next to

capital gain exclusion on assets held more than one year,

the deduction on Schedule C, E, or F.

plus any other nontaxable capital gains that are not reported

elsewhere.

Example: On a farm schedule you claimed automobile

expenses, based on the standard mileage rate for 5,000

Example: You reported net long-term capital gains of $3,000

business miles. Include $850 on line 11h (5,000 miles x

on federal Schedule D. In computing Wisconsin taxable

17¢ = $850). Fill in “5,000” next to the deduction on

income, you subtracted $1,800 ($3,000 x 60%) of this gain.

Schedule F.

Include $1,800 on line 11d.

Exception: The 17¢ per mile income adjustment is not

• 11e Net operating loss carryforward and capital loss

required for miles claimed after the adjusted basis of your

carryforward Fill in any net operating loss carryforward or

car or truck reaches zero. If this applies to you, attach a

capital loss carryforward (one incurred in a prior year and

note explaining the situation.

not used in that year to offset taxable income) deducted in

computing 2006 Wisconsin taxable income.

• 11i Other depreciation, Section 179 expense, depletion,

amortization, and intangible drilling costs Fill in any

Example: You have a $2,000 capital loss carryforward from

depreciation, Section 179 expense, depletion, amortization,

2005 to 2006, and a $1,900 capital gain for 2006. On

and intangible drilling costs claimed in computing Wisconsin

Schedule WD, you compute a $100 net capital loss

taxable income, except amounts already filled in on line 11g

deduction ($2,000 carryforward less $1,900 gain). Fill in

or 11h. (See note below, regarding actual car/truck expenses.)

$2,000 on line 11e (the $1,900 loss offset against capital

gain, plus the $100 loss applied against other income).

Example: You filed a 2006 Wisconsin income tax return

and claimed $1,500 of depreciation on federal Schedule F.

•

11f Income of nonresident spouse or part-year resident

Fill in $1,500 on line 11i.

spouse and nontaxable income from sources outside

Note: If car or truck expenses were claimed on federal

Wisconsin Fill in the income of your nonresident or part-

Schedule C, C-EZ, E, or F using the actual expense method,

year resident spouse for the time you resided in the same

depreciation would be claimed on the depreciation line and

homestead. Also fill in the income received from sources

outside Wisconsin that was excluded from Wisconsin

would be included on line 11i. In this case, write “actual”

taxable income.

next to the car/truck expense line on Schedule C, E, or F, or

near where the total number of business miles are reported

Example: While a nonresident of Wisconsin, you sold

on Schedule C-EZ.

property located outside Wisconsin on the installment basis.

In 2006 you are a Wisconsin resident. The gain on the sale

• Repaid amounts Nontaxable income that was included in

of the property sold while you were a nonresident is not

household income in a prior year and was required to be

taxable to Wisconsin. However, it must be included on

repaid in 2006 may be subtracted from household income

line 11f.

on your 2006 Schedule H. Subtract the amount repaid on

the income line of Schedule H to which the repayment relates

Resident manager’s rent reduction, clergy housing

(fill in the amount as a negative number). Attach an

allowance, and nontaxable Native American income

explanation indicating the amount of the repayment and the

Fill in the amount that a resident manager’s rent is reduced

year it was included on a homestead credit claim.

in return for services, the nontaxable housing allowance

provided to a member of the clergy, and nontaxable income

Example: Your 2005 Schedule H reported $8,000 of social

of a Native American.

security benefits received in 2005. In 2006, you received

social security benefits of $9,000 but were required to pay

• 11g Partners, LLC members, and tax-option (S) corpo-

back $3,000 of the benefits you received in 2005. On line 9b

ration shareholders Fill in the distributive share of

of the 2006 Schedule H, fill in $6,000, the social security

partnership, limited liability company (LLC), and tax-option

received in 2006 ($9,000) less the amount repaid ($3,000).

Schedules H & H-Ez Instructions - Wisconsin Homestead Credit - Wisconsin Department Of Revenue - 2006 Page 8

Related Articles

Related forms

Related Categories