2024 Schedule CF Instructions 

  Purpose of Schedule CF                                                                                                                     
If certain nonrefundable credits are not entirely applied against tax for the year in which they are computed, the unused credit may be 
carried forward up to 15 years. Use Schedule CF to record the amount of credit used in a year and the amount that may be carried 
forward and offset against tax in a future year. 
Use Schedule CF to report credits computed for any taxable year from 2009-2024 if you have an amount of unused credit to be carried 
forward to 2024 and future years. 
If a credit is still available, the carryforward of the credit is claimed on the same schedule used to compute the credit. For example, 
the carryforward of the manufacturing credit is claimed on Schedule MA-M. 
If a credit is no longer available (only a carryforward is allowed), the carryforward of the credit is claimed on the appropriate line of 
Schedule CR, Other Credits. In this case, the amounts in Columns (d) and (e) of Schedule CF will be the same as the amounts in Columns 
A and B of Schedule CR. However, if a combined return is filed, the credit is claimed on Part V of Form 6. 
Do not include Schedule CF if the full amount of a credit was computed and used in the same year. 

  General Instructions                                                                                                                       
Who must file Schedule CF  You must file Schedule CF if you had any of the following credits and the entire amount of the credit was 
not used to offset tax for the year for which the credit was computed or as of the first day of your taxable year beginning in 2024 (January 
1, 2024, for calendar-year filers). 
Code                                                
No.   Name of Credit 
01    Community development finance                                     26 Research facilities-energy efficient products 
02    Community rehabilitation program                                  27 Research facilities-internal combustion engines 
03    Dairy and livestock farm investment                               29 Supplement to federal historic rehabilitation 
04    Development zones                                                 30 Technology zone 
11    Early stage seed investment                                       31 Water consumption 
12    Economic development                                              32 Electronic medical records 
13    Ethanol and biodiesel fuel pump                                   33 Veteran employment 
16    Health insurance risk-sharing assessments                         34 Manufacturing 
17    Internet equipment                                                35 Development opportunity zone investment 
18    Biodiesel fuel production                                         36 Agriculture 
20    Manufacturing investment                                          37 Capital investment 
21    Postsecondary education                                           38 Employee college savings account contribution 
22    Research expense                                                  39 Low-income housing 
23    Research expense-energy efficient products                        40 State historic rehabilitation 
24    Research expense-internal combustion engines                      41 Angel investment 
25    Research facilities                                                   
Note: The list of credits does not include the manufacturer’s sales tax credit as the carryforward amount is determined on Schedule MS, 
Wisconsin Manufacturer's Sales Tax Credit Carryforward Allowable. 
File a separate Schedule CF for each credit for which you have a carryforward. If you computed the same credit for more than one taxable 
year, complete a separate row of Schedule CF for each year for which the same credit was computed. 
Example: You computed an economic development tax credit of $20,000 for 2023. You used $10,000 of the credit and have a carry-
forward of the remaining $10,000. You computed an additional economic development tax credit of $30,000 for 2024. The entire $30,000 
of the 2024 credit will be carried forward. You must complete two rows of the worksheet, one for the 2023 credit and one for the 2024 
credit. If you also have a carryforward of another credit (for example, the angel investment credit), a separate Schedule CF must be 
completed for that credit. 
How do I determine how much credit has been used each year?             Wisconsin law provides that the listed credits “may” be claimed for 
a taxable year. Because the statutes use the word “may” instead of “shall” or “must,” you have the option of claiming all, a portion, or 
none of the credit available for a particular year. Any amount not used in the year for which a credit is computed may be carried forward 
and offset against tax until entirely used or the 15-year carryforward period expires, whichever is earlier. 
The amount of credit used for 2024 is the amount from the appropriate line of Column B of Schedule CR. 
Must I complete a new Schedule CF each year?     You must submit a new Schedule CF each year until the carryforward is eliminated 
or until the 15-year carryforward period expires, whichever is earlier. 

I-147 (R. 11-24)                                                                                             Wisconsin Department of Revenue 

  Specific Instructions                                                                                                        
Fill in the name and identification number of the individual or entity that has a carryforward of an unused credit. 
 Fill in the code number and name of the credit. The code number for each credit is listed on the first page of these instructions. Enter 
the code number in the bracketed space. For example, if you are filing Schedule CF for the carryforward of the agriculture credit, fill in 36 
in the space for the code number. 
Column (b) For each year listed in column (a) for which you computed a credit and have an unused amount of credit to carry forward, 
fill in the amount of computed credit. 
Example:  You computed economic development tax credits of $10,000 for 2010, $15,000 for 2017, and $8,000 for 2021. You would fill 
in $10,000 in column (b) for 2010, $15,000 in column (b) for 2017, and $8,000 in column (b) for 2021. Include both the credit computed 
for  yourself  or  the  business  entity  and  any  credit  passed  through  from  a  tax-option  (S)  corporation,  partnership,  LLC  treated  as  a 
partnership, estate, or trust. 
CAUTION   Special instructions apply to recipients of a transferred credit. If you are the recipient of a transferred supplement to federal 
historic rehabilitation tax credit, angel investment credit, or early stage seed investment credit, fill in the amount of credit transferred to 
you in column (b) for the year in which the credit was originally computed by the person or entity that transferred the credit to you. If you 
are the recipient of a transferred economic development tax credit, fill in the amount of credit transferred to you in column (b) for the year 
of the transfer. 
Column (c) For each computed credit in column (b), fill in the amount of credit used for the year in which the credit was computed (or 
transferred to you) plus the amount used in all subsequent years. If you transferred any portion of a credit to another person or entity 
during a year, include the amount transferred in column (c) as credit used. 
Example: You computed an angel investment credit of $25,000 for 2017. You used $10,000 for 2017, $2,000 for 2018, and $5,000 for 
2023. Fill in $17,000 in column (c) as credit used through 2023. 
Column (d) For each year that has a computed credit, subtract the amount in column (c) from the amount in column (b). This is the 
amount of credit available for 2024. Enter this amount on the appropriate line of Column A of 2024 Schedule CR. 
Column (e) For each year that has a credit available for 2024, fill in the amount of credit used on your 2024 return. Include as credit 
used in 2024 any amount of credit transferred to another person or entity during 2024. This is the amount from the appropriate line of 
Column B of Schedule CR plus the amount of credit that you transferred to another person or entity in 2024. 
Column (f) For each year that has a credit available for 2024, subtract the amount in column (e) from the amount in column (d). This is 
the amount of credit that is available for 2025. 
Note: For the 2009 year, column (f) is shaded. Do not enter any amount in this space. The 15-year carryforward period for a credit 
computed in 2009 has expired and any credit computed in 2009 cannot be carried forward to 2025. 

  Attachments to the Return                                                                                                    
A copy of Schedule CF must be included with your Wisconsin income or franchise tax return each year for which a carryforward of a 
credit is available. 

  Additional Information                                                                                                       
For more information, you may: 
Email your questions to:                                         Call: 
DORFranchise@wisconsin.gov                                       (608) 266-2772 
                                                                 [TTY: Call the Wisconsin Telecommunications Relay System at 
                                                                 711] 
Write to: 
Corporate Franchise and Income Tax Assistance 
Wisconsin Department of Revenue 
PO Box 8906 
Madison WI 53708-8906 

                                                 Applicable Laws and Rules 
 This document provides statements or interpretations of the following laws and regulations enacted as of November 20, 2024:  
 ch. 71, Wis. Stats. 
 
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