Instructions For Completing Wisconsin Shedule I-2003 - Income Tax Return (Page 2 of 4) in pdf

Do not complete lines 2 and 3 if you did not make

other number is zero) and the amount in Col. I is larger

Schedule I adjustments in the current year or a prior year

than the amount in Col. II, subtract Col. II from Col. I.

for the property you sold or otherwise disposed of during

Fill in the difference as a positive number in Col. III.

2003.

Treat both amounts as if they were positive numbers

when figuring which amount is larger and when

5. Complete line 5 to make all other adjustments needed to

subtracting the amounts in Col. I and Col. II.

convert 2003 federal adjusted gross income to the

amount allowable for Wisconsin. See the listing under

6. The amount on line 6 is your recomputed federal adjusted

Section A of ITEMS REQUIRING ADJUSTMENT.

gross income based on the Internal Revenue Code in

effect for Wisconsin for 2003. This amount is the starting

When an adjustment is made on line 2, 3, or 5, this may

point for determining Wisconsin taxable income on

affect other amounts which must then also be adjusted.

Form 1.

For example, the amount of social security includable in

federal adjusted gross income may be affected when an

INSTRUCTIONS FOR PART II

adjustment is made to an income item. The adjustment

to social security includable in federal adjusted gross

7. Whenever federal adjusted gross income has been

income should be reported on line 5.

increased or decreased in Part I of Schedule I, itemized

deductions which are computed using federal adjusted

When completing line 5, if you are adjusting an expense

gross income (for example, medical expenses and

item (for example, depreciation or amounts claimed as

charitable contributions) may require adjustment. The

Adjustments to Income on lines 23 through 32a of

deductible amounts of any such items used to compute

federal Form 1040), fill in the amounts in Col. I and Col.

the Wisconsin itemized deduction credit must be deter-

II as negative numbers. Put parentheses around the

mined by using the federal adjusted gross income

amounts to show negative numbers.

computed on line 6 of Part I.

If you are adjusting an income item, fill in the amounts

See the listing under Section B of ITEMS REQUIRING

in Col. I and Col. II as positive numbers.

ADJUSTMENT for other itemized deductions that require

adjustment.

Complete Col. III as follows:

• If the amounts in Col. I and Col. II are positive

numbers (or one number is a positive number and the

ITEMS REQUIRING ADJUSTMENT

other number is zero) and the amount in Col. II is

larger than the amount in Col. I, subtract Col. I from

Following are brief explanations of differences between

Col. II. Fill in the difference in Col. III.

federal and Wisconsin law which were known at the time

• If the amounts in Col. I and Col. II are positive

this form was printed (December 3, 2003).

numbers (or one number is a positive number and the

The “Federal” explanation indicates how an item is to be

other number is zero) and the amount in Col. I is larger

treated for federal income tax purposes as of December 31,

than the amount in Col. II, subtract Col. II from Col. I.

2003. The “Wisconsin” explanation indicates how the item

Fill in the difference as a negative number in Col. III.

is to be treated for Wisconsin purposes.

• If the amounts in Col. I and Col. II are negative

If you need additional information regarding these items,

numbers (or one number is a negative number and the

contact any Wisconsin Department of Revenue office.

other number is zero) and the amount in Col. II is

larger than the amount in Col. I, subtract Col. I from

CAUTION At the time these instructions were printed,

Col. II. Fill in the difference as a negative number in

Congress was considering further legislation, and that further

Col. III. Treat both amounts as if they were positive

legislation could affect the taxable year 2003. If federal law

numbers when figuring which amount is larger and

changes are enacted which affect 2003 tax returns, you may

when subtracting the amounts in Col. I and Col. II.

obtain information on the Wisconsin treatment of such

changes from any Wisconsin Department of Revenue office.

• If the amounts in Col. I and Col. II are negative

numbers (or one number is a negative number and the

Instructions For Completing Wisconsin Shedule I-2003 - Income Tax Return Page 2

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