Schedule4W: Wisconsin Subtractions From Federal Income (2024)
Wisconsin · Wisconsin DOR · Used for tax years 2024
Wisconsin Schedule 4W reports subtractions from federal income, including dividend modifications, eligible related entity expenses, and depreciation adjustments. It is filed with Wisconsin Form 4, and its total is entered on Form 4, page 1, line 4.
Who files this form
Schedule 4W is for reporting a corporation’s Wisconsin subtractions from federal income. The form says to file it with Wisconsin Form 4.
What you'll need
Enter the corporation’s name and Federal Employer ID Number. Depending on the subtractions you report, the form calls for:
- Schedule 4Y, line 4: For the dividend subtraction on line 1.
- Schedule RT, Part II, and Schedules 2K-1 and 3K-1: For related entity expenses on line 2.
- Schedule RT-1: Obtain this from the related entity and submit it with your return for line 3.
- Attached schedules: For nontaxable income on line 7; basis, section 179, and depreciation/amortization on line 10; and the amount by which Wisconsin basis exceeds federal basis for assets disposed of on line 11.
- Schedule 4I, line 13: For nontaxable income from life insurance operations on line 16.
How to file
File Schedule 4W with Wisconsin Form 4. Enter the total from Schedule 4W, line 17, on Form 4, page 1, line 4.
The supplied form text does not give mailing, e-filing, or delivery-address instructions.
Common mistakes
- Skipping the instructions: The form says to read the instructions before filling in the schedule.
- Including deemed taxes on line 8: The foreign taxes line specifically excludes deemed taxes.
- Putting life insurance adjustments on line 15: Do not include adjustments for nontaxable income from life insurance operations there. Line 16 is designated for that income.
- Leaving out required attachments: Submit Schedule RT-1 with your return for line 3, and attach schedules for lines 7, 10, and 11.
Questions people ask
Where do I report the Schedule 4W total?
Enter line 17 on Wisconsin Form 4, page 1, line 4.
What do I need for income from a related entity whose expenses were disallowed?
For line 3, obtain Schedule RT-1 from the related entity and submit it with your return.
Can I include deemed taxes in the foreign taxes subtraction?
No. Line 8 says not to include deemed taxes.
Where does nontaxable income from life insurance operations go?
Report it on line 16 using Schedule 4I, line 13. Do not include it among the other adjustments on line 15.