Instructions For 2014 Schedule 4w: Wisconsin Subtractions From Federal Income (Page 3 of 3) in pdf

Schedule 4W Instructions

•

Enter the amount by which the Wisconsin deduction

Separately stated items of expense and adjust-

for depreciation or amortization exceeds the federal

ments for differences between the federal and

deduction for depreciation or amortization. Include a

Wisconsin treatment of any items of an S corpo-

schedule showing the computation details.

ration that opts out of Wisconsin tax-option sta-

tus.

These differences can happen because of IRC sec-

•

For credit unions, an adjustment to remove in-

tions not adopted for Wisconsin purposes and elect-

come from non-public deposits from Wisconsin

ing a different depreciation method under the Internal

income as described in the instructions to

Revenue Code in effect for Wisconsin purposes.

Schedule CU-1.

■ Line 14. Nontaxable Income from Life Insurance

■ Line 10. Basis Differences – Enter the amount by

Operations – If the corporation is an insurance com-

which the Wisconsin basis of assets disposed of ex-

ceeds the federal basis. See the instructions for

pany that has both life insurance operations and non-

Schedule 4V, line 8, for an example. Provide a

life insurance operations, enter the amount of non-

schedule showing the computation details.

taxable income from life insurance operations as

computed on Schedule 4I, line 13. See the Schedule

■ Line 11. Federal Work Opportunity Credit Wag-

4I instructions for details.

es – Enter wages that aren’t deductible in computing

■ Line 15. Job Creation Deduction - Enter the job

federal income because they are being used in com-

puting the federal work opportunity tax credit.

creation deduction from line 7 of Schedule JC.

For more information regarding the job creation de-

■ Line 12. Federal Research Credit Expenses –

duction, refer to Schedule JC.

Enter research expenses that aren’t deductible in

computing federal income because they are being

used in computing the federal credit for increasing

research activities.

■ Line 13. Other Subtractions – Enter any other

subtractions from federal income, except for the in-

surance company adjustment reportable on line 14.

These other subtractions may include:

•

Adjustments required as a result of changes

made to the Internal Revenue Code which don’t

apply for Wisconsin.

•

Adjustments required as a result of making dif-

ferent elections for Wisconsin and federal pur-

poses.

Additional Information and Assistance

•

Web Resources. The Department of Revenue has a

Call (608) 266-2772

web page with a library of common questions on

(Telephone help is also available using TTY equipment. Call

the Wisconsin Telecommunications Relay System at 711 or, if

general business tax topics, available at:

reve-

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

nue.wi.gov/faqs/index.html

only when calling with TTY equipment.)

•

Send a fax to (608) 267-0834

Contact Information. If you cannot find the answer

•

to your question in the resources available on the

Write to the Audit Bureau, Wisconsin Department

Department of Revenue’s web page, contact the De-

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

partment using any of the following methods:

Madison, WI 53708-8906

•

E-mail

your

question

DORFran-

chise@revenue.wi.gov

IC-024

Instructions For 2014 Schedule 4w: Wisconsin Subtractions From Federal Income Page 3

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