Form6CL: Wisconsin Capital Loss Adjustment (2024)
Wisconsin · Wisconsin DOR · Used for tax years 2024
Wisconsin Form 6CL calculates capital loss adjustments for a combined group member. It tracks sharable and non-sharable capital loss carryovers and calculates amounts to report on Form 6 and Form N.
What you'll need
Have these forms and details available to complete Form 6CL:
- The combined group member’s name and Federal Employer ID Number.
- Form 6, including Part I, line 30, combined total column, and the member’s Wisconsin percentage from Part III, line 1d.
- The member’s current-year capital gains or losses from separate entity items, before applying carryovers.
- Capital loss carryover records showing the year incurred, net capital loss, and amounts used in prior years, separated into sharable and non-sharable losses.
- For Part IV, all group members’ sharable capital loss carryovers available at the beginning of the year and the total used in computing Form 6, Part I, line 30. Attach the computation of the beginning-of-year group total.
- Form N, if Part I, line 8 produces a net capital gain to include in the member’s nonapportionable or separately apportioned income.
Common mistakes
- Do not enter an amount on Part I, line 1 if the group’s net capital gain was $0 because the capital loss limitation applied. Go to line 2 instead.
- Do not enter a loss on Part I, line 3. Go to line 4 instead. Lines 3 and 4 use amounts before applying carryovers.
- Enter the losses and carryovers on Part I, lines 2, 4, 5, and 6 as positive numbers.
- Do not enter less than zero on Part I, lines 8 or 9a. Complete lines 9a through 9e only if there is an amount on line 1.
- List the oldest loss year first in Parts II and III. When assigning carryovers used in Part IV, line 5 to Part III, column (e), use the oldest losses first.
- Do not include losses incurred before January 1, 2009 in Parts III or IV. The form says those parts do not apply to those losses.
- For a 100% Wisconsin group, line 9d directs you to the instructions to compute the percentage.
Questions people ask
Where do I enter non-sharable capital loss carryovers?
List them in Part II, oldest year first. Subtract amounts used in prior years from each net capital loss. Enter the total available carryover from column (d) on Part I, line 5 as a positive number.
Where do I enter sharable capital loss carryovers?
List them in Part III. Column (f) shows the remaining carryover after subtracting amounts used in computing Form 6, Part I, line 30. Enter the column (f) total on Part I, line 6 as a positive number.
Where does the additional capital loss allowable go?
Part I, line 9e multiplies line 9c by line 9d to calculate the additional capital loss allowable. Enter that amount on Form 6, Part III, line 5.
Where do I report the net capital gain calculated on line 8?
Include it in the member’s nonapportionable or separately apportioned income on the applicable line or lines of Form N.