PDF document
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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 shareholders 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)



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2024 Schedule 5K-1 Shareholder's Name                                      ID Number                                                                           Page 2 of 4
Part III  Shareholder sShare 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



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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



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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






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