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Category: Wisconsin

Wisconsin Schedule I

If the computation of your federal adjusted gross income or itemized deductions reflects any of the differences in Wisconsin and federal law for 2016, you must complete this schedule with your state return. To the extent Schedule I adjustments in a prior year affect income or expense items in 2016 (other than depreciation, amortization or section 179 expense), you must also make adjustments on Schedule I for 2016. For example, you had to make an adjustment on Schedule I because Wisconsin did not allow bonus depreciation. You must continue to make an adjustment on Schedule I each year until the depreciable asset is fully depreciated or you sell or otherwise dispose of the asset.

 

It also may be necessary to prepare a 2016 Schedule I to adjust the amount of gain or loss reportable from sales of certain assets during 2015.



For a complete list adjustments between the Federal and Wisconsin laws, on Schedule 1 please click here.

 

You may also be required to complete Schedule I if you sold assets during 2016, and the gain or loss from the sale is different for Wisconsin and federal purposes due to Schedule I adjustments made in a prior year.

 

Please refer to the Schedule 1 instructions for additional information.