- 1 -
|
Schedule
Wisconsin Net Operating Loss
NOL1 Deduction
Wisconsin 2024
Department of Revenue File with Wisconsin Form 1, 1NPR, or 2
Name(s) shown on Form 1, 1NPR, or 2 Your social security number
Note: Enter all amounts as positive numbers unless otherwise indicated. Use a minus (-) sign for negative amounts.
1 Wisconsin income from 2024 Form 1, line 7. Estates and trusts, skip
lines 1 and 2 (see instructions for Form 1NPR) ....................... 1 .00
2 Allowable federal standard deduction. Enter this amount as a negative
number ...................................................... 2 .00
3 Combine lines 1 and 2. Estates and trusts, fill in your Wisconsin income increased by the sum
of the charitable deduction and income distribution deduction allowed on your federal tax return .... 3 .00
Note: If line 3 is zero or more, do not complete rest of worksheet. You do not have an NOL
Adjustments:
4 Fill in Wisconsin capital gain exclusion and the amount of long-term capital gain deferred or
excluded due to investment in a qualified Wisconsin business or Wisconsin qualified opportunity fund 4 .00
5 Estates and trusts, fill in as a positive number the exemption amount from your federal tax return .... 5 .00
6 Total nonbusiness capital losses disregarding capital loss deduction
limitation. Fill in as a positive number .............................. 6 .00
7 Total nonbusiness capital gains .................................. 7 .00
8 If line 6 is more than line 7, fill in difference; otherwise, fill in -0- ......... 8 .00
9 If line 7 is more than line 6, fill in difference .... 9 .00
10 Nonbusiness deductions. Fill in as a positive number ................ 10 .00
11 Nonbusiness income other than
capital gains ............................ 11 .00
12 Add lines 9 and 11............................................. 12 .00
13 If line 10 is more than line 12, fill in difference; otherwise, fill in -0- ............................ 13 .00
14 If line 12 is more than line 10, fill in difference;
otherwise, fill in -0-. Do not fill in more than
line 9 .................................. 14 .00
15 Total business capital losses disregarding capital loss deduction
limitation. Fill in as a positive number ............................. 15 .00
16 Total business capital gains disregarding
capital gain exclusion ..................... 16 .00
17 Add lines 14 and 16 ........................................... 17 .00
18 If line 15 is more than line 17, fill in difference; otherwise, fill in -0- ....... 18 .00
19 Add lines 8 and 18 ............................................ 19 .00
20 Fill in as a positive number the loss, if any, from line 18 of
Schedule WD (line 18 of Schedule 2WD (Form 2) for estates and trusts).
If you do not have a loss on that line, skip lines 20 through 22 and fill in
on line 23 the amount from line 19 ................................ 20 .00
21 Fill in as a positive number the loss from line 28 of Schedule WD
(line 28 of Schedule 2WD (Form 2) for estates and trusts) ............. 21 .00
22 Subtract line 21 from line 20 .................................... 22 .00
23 Subtract line 22 from line 19. If zero or less, fill in -0- ....................................... 23 .00
24 Net operating loss deduction for losses from other years. Fill in as a positive number ............ 24 .00
25 Net operating loss. Combine lines 3, 4, 5, 13, 23, and 24. If the combined amount is less than zero,
this is your Wisconsin NOL. If the combined amount is zero or more, you do not have an NOL ..... 25 .00
I-054 (R. 06-24)
|