Schedule Cg - Income Tax Deferral Of Long-Term Capital Gain - 2015 Page 2
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22015
Schedule CG and Instructions
Page 2 of 2
• The value of real and tangible personal property owned or
Line 7 The basis of the investment is calculated by subtracting
rented and used by the business in Wisconsin is equal to at
the deferred gain (line 3) from the amount of the investment in
least 50 percent of the value of all real and tangible personal
the qualified Wisconsin business (line 6). The reduced basis
property owned or rented and used by the business.
will result in a larger gain (or smaller loss) for Wisconsin than
for federal purposes when the investment is sold or otherwise
disposed of in the future.
Procedures
An individual may subtract from federal adjusted gross income
Note:
If you invested the deferred gain in a qualified
any amount of a long-term capital gain if the individual does
Wisconsin business and hold the investment for 5 years, if
all of the following:
certain conditions are met you may be able to exclude gain
from the sale or disposition of the investment. The business
• Within 180 days after the sale of the asset that generated
must have been certified by WEDC or registered with the
the gain, invests all of the long-term gain in a qualified
department for the year of the investment and for two of the
Wisconsin business.
subsequent four years. The gain that may be excluded does not
include the amount of deferred gain.
Note A list of qualified Wisconsin businesses that have
registered with the department for 2015 is available at:
revenue.wi.gov/report/q.html#qual.
Attachments
A copy of Schedule CG must be enclosed with your Wisconsin
• Attaches a completed Schedule CG to the individual’s
income tax return.
Wisconsin income tax return for the taxable year in which
the deferral of gain is claimed.
Additional Information
Specific Instructions
If you have questions about the deferral of gain, contact any
Wisconsin Department of Revenue office or write or call:
Line 3 This is the amount of long-term capital gain that may
be deferred if reinvested in a qualified Wisconsin business.
Customer Service Bureau,
Individuals claim the deferral of gain when completing
Wisconsin Department of Revenue
Wisconsin Schedule WD.
Mail Stop 5-77
PO Box 8949
Line 4 The date on line 4 must be within 180 days of the date
Madison WI 53708-8949
on line 1. If not within 180 days, you do not qualify for the
deferral of gain.
Telephone: 608) 266-2486
You may also email your questions to:
Line 5 Complete line 5 if the long-term gain was reinvested in
income@revenue.wi.gov
a qualified Wisconsin business. Fill in the name of the business
and the federal employer identification number (FEIN) of the
Return to Page 1
business.
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