Schedule Tax-Option (S) Corporation Shareholder’s 2024 5K-1 Share of Income, Deductions, Credits, etc. Wisconsin Department For calendar year 2024 or tax year beginning 2 0 2 4 and ending 2 0 of Revenue M M D D Y Y Y Y M M D D Y Y Y Y Part I: Information About the Corporation Corporation’s Name Corporation’s FEIN Corporation's Address Corporation's City State Corporation’s Zip Code Part II: Information About the Shareholder Business Name FEIN Individual's Last Name First Name M.l. Individual's SSN Shareholder’s Address Shareholder's City State Shareholder’s Zip Code If the shareholder is a disregarded entity, estate, or trust, enter the name and identifying number of the taxpayer to whom this income will be reported: Trust Name FEIN Last Name First Name M.I. SSN A Type of shareholder: 1 Individual 2 Estate 3 Trust 4 Exempt organization 5 Other B Check if applicable: 1 Final 5K-1 2 Amended 5K-1 (Include Schedule AR) 3 Election to pay tax at the entity level pursuant to s. 71.365(4m)(a), Wis. Stats. 4 A lower-tier entity made an election pursuant to s. 71.21(6)(a), Wis. Stats. C Shareholder’s percentage of stock ownership for taxable year ...................................... C . % D Shareholder’s state of residence (if a full-year Wisconsin resident, items E, F, G, and H do not apply) ........ D E Check if shareholder’ sWisconsin amount is determined by apportionment. Apportionment percentage.... E . % F Check if shareholder’s Wisconsin amount is determined by separate accounting. G Check if the shareholder is a nonresident and received an approved Form PW-2 to opt out of pass-through entity withholding, or received a continuous PW-2 exemption. H Check if the nonresident shareholder elected Wisconsin composite income tax be paid by the tax-option (S) corporation on a Form 1CNS. Amount of Wisconsin composite income tax paid on behalf of the nonresident shareholder . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . H IC-056 (R. 7-24) |
2024 Schedule 5K-1 Shareholder's Name ID Number Page 2 of 4 Part III Shareholder s’Share of Current Year Income, Deductions, Credits, and Other Items (a) (b) (c) (d) (e) Amount under Wis. source amount Pro rata share items Federal amount Adjustment Wis. law (see instructions) 1 Ordinary business income (loss) . . 1 1 2 Net rental real estate income (loss) .. 2 2 3 Other net rental income (loss) . . . . 3 3 4 Interest income ............... 4 4 5 Ordinary dividends ............ 5 5 6 Royalties .................... 6 6 7 Net short-term capital gain (loss).. 7 7 8 Net long-term capital gain (loss) .. 8 8 9a Net section 1231 gain (loss) ..... 9a 9a 9b Portion of the amount on line 9a attributable to gains on sales of farm assets .................. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9b 10 Other income (loss) (see instructions) a 10a 10a b 10b 10b c Total (add lines 10a and 10b) .... 10c 10c 11 Section 179 deduction ......... 11 11 12 Other deductions: a Contributions ................. 12a 12a b Investment interest expense ..... 12b 12b c Section 59(e)(2) expenditures ... 12c 12c d Other deductions (attach schedule) ............. 12d 12d 13 Wisconsin credits a Schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13a b Schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13b c Schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13c d Schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13d e Schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13e f Schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13f g Schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13g h Schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13h i Tax paid to other states (enter postal abbreviation) ...... 13i-1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13i-1 13i-2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13i-2 13i-3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13i-3 j Wisconsin tax withheld . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13j |
2024 Schedule 5K-1 Shareholder’s Name ID Number Page 3 of 4 (a) (b) (c) (d) (e) Amount under Wis. source amount Pro rata share items Federal amount Adjustment Wis. law (see instructions) 14 Schedule K-3 is attached if checked (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 15 Alternative minimum tax (AMT) items (list): a 15a b 15b 16a Tax-exempt interest income . 16a 16a b Other tax-exempt income ... 16b 16b c Nondeductible expenses .... 16c 16c d Property distributions ....... 16d 16d e Repayment of loans from shareholders ............. 16e 16e f Foreign taxes paid or accrued 16f 16f 17a Investment income ........ 17a 17a b Investment expenses ...... 17b 17b c Dividend distributions paid from accumulated earnings and profits ............... 17c 17c d Other items and amounts (list): 1 17d-1 17d-1 2 17d-2 17d-2 3 Total (add lines 17d-1 and 17d-2) ................ 17d-3 17d-3 18a Related entity expense addback . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18a b Related entity expense allowable ............................................... 18b 19 Income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 20 Gross income (before deducting expenses) from all activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 |
2024 Schedule 5K-1 Shareholder’s Name ID Number Page 4 of 4 Part IV Schedule 5K-1 - Shareholder’s Share of Additions and Subtractions Additions: 1State taxes accrued or paid ............................................................. 1 2 Related entity expenses ................................................................ 2 3 Expenses related to nontaxable income ..................................................... 3 4 Section 179, depreciation, amortization difference (attach schedule) ............................... 4 5 Amount by which the federal basis of assets disposed of exceeds the Wisconsin basis (attach schedule) ...................................................................... 5 6 Total additions for certain credits computed: a Business development credit ............................. 6a b Community rehabilitation program credit .................... 6b c Development zones credits .............................. 6c d Economic development tax credit ......................... 6d e Electronics and information technology manufacturing zone credit 6e f Employee college savings account contribution credit .......... 6f g Enterprise zone jobs credit .............................. 6g h Reserved for future use . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6h i Manufacturing and agriculture credit (computed in 2023) ....... 6i j Reserved for future use . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6j k Research credits ...................................... 6k l Total credits (add lines 6a through 6k) ................................................... 6l 7Adjustment for built-in gains tax .......................................................... 7 8Additions for federal capital gains and excess net passive income taxes ........................... 8 9 Other additions: a 9a b 9b c 9c d Total other additions (add lines 9a through 9c) ............................................. 9d 10 Total additions (add lines 1 through 5, 6l through 8, and 9d) ................................. 10 Subtractions: 11 Related entity expenses eligible for subtraction .............................................. 11 12 Income from related entities whose expenses were disallowed (obtain Schedule RT-1 from related entity and submit with your return) ........................................................ 12 13 Section 179, depreciation/amortization of assets (attach schedule) ............................... 13 14 Amount by which the Wisconsin basis of assets disposed of exceeds the federal basis (attach schedule) ...................................................................... 14 15 Adjustment for built-in gains tax .......................................................... 15 16 Federal wage credits ................................................................... 16 17 Federal research credit expenses ......................................................... 17 18 Commercial loans ..................................................................... 18 19 Other subtractions: a 19a b 19b c 19c d Total other subtractions (add lines 19a through 19c) ......................................... 19d 20 Total subtractions (add lines 11 through 18 and 19d) ....................................... 20 21 Total adjustment (subtract line 20 from line 10) ............................................ 21 |