Instructions For 2014 Schedule Cu-1: Credit Union Adjustment To Income (Page 2 of 2) in pdf

Schedule CU-1 Instructions

■ Line 5. Expenses Directly Related to Income

compute in Part II must be net of all expenses directly

and indirectly related to the income from non-public

from All Deposits – Enter the total expenses directly

deposits. You may compute this adjustment using the

related to income from deposits. Include expenses

shortcut method or the regular method.

directly related to income from public deposits and

expenses directly related to income from non-public

deposits.

Under the shortcut method, all expenses, whether

direct or indirect, are allocated based on the ratio of

■ Line 8. Expenses Directly Related to Income

public deposits to non-public deposits. If you are us-

ing the shortcut method, complete only lines 4 and 9

from Non-Public Deposits – Enter the total expens-

of Part II. If you are using the regular method, com-

es directly related to income from non-public depos-

plete all of lines 4 through 9 of Part II.

its. Do not include any indirect expenses or expenses

related directly to income from public deposits.

■ Line 4. Credit Union’s Modified Net Income –

■ Line 9. Total Adjustment to Income – For non-

Enter the credit union’s income or loss as reported on

Form 4, line 1, plus its total addition modifications

combined filers: If the net income from non-public

from Schedule 4V and minus its subtraction modifica-

deposits is a loss amount, enter the loss on line 9 as

tions from lines 1 through 13 and line 15 of Schedule

a negative number and also as a negative number

4W (since you will enter your total from Schedule CU-

on Schedule 4W, line 13. The loss from non-public

1 on Schedule 4W, your total on Schedule 4W will

deposits is addition to federal income even though it

not yet be complete).

is reported along with the subtractions on Schedule

4W.

If the credit union is a member of a combined group,

enter the credit union’s net income or loss included in

For combined group filers: If the net income from

the amount reported on Form 6, Part II, line 1, and

non-public deposits is a loss amount, enter the loss

only adjust the credit union’s net income or loss for

on line 9 as a negative number and also as a nega-

addition and subtraction modifications that are at-

tive number on Form 6, Part II, line 4l. The loss from

tributable to the credit union.

non-public deposits is addition to federal income

even though it is reported along with the subtractions

on Form 6, Part II, line 4.

Additional Information and Assistance

Web Resources

Contact Information

The Department of Revenue’s web page, available at

If you cannot find the answer to your question in the

revenue.wi.gov, has a number of resources to pro-

resources available on the Department of Revenue’s

vide additional information and assistance, including:

web page, contact the Department using any of the

following methods:

• Related

forms

and their instructions

•

E-mail

your

question

DORFran-

•

Common questions

chise@revenue.wi.gov

•

Publications

on specific tax topics

•

Call (608) 266-2772

• The

Wisconsin Tax Bulletin

(Telephone help is also available using TTY equipment. Call

the Wisconsin Telecommunications Relay System at 711 or, if

• A home page specifically for

combined reporting

no answer, (800) 947-3529. These numbers are to be used

topics

only when calling with TTY equipment.)

• Links to the

•

Wisconsin Statutes and Administrative

Send a fax to (608) 267-0834

Code

•

Write to the Audit Bureau, Wisconsin Department

of Revenue, Mail Stop 5-144, PO Box 8906,

Madison, WI 53708-8906

IC-080

Instructions For 2014 Schedule Cu-1: Credit Union Adjustment To Income Page 2

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