Schedule4Y: Wisconsin Subtraction Modification for Dividends (2024)
Wisconsin · Wisconsin DOR · Used for tax years 2024
Wisconsin Schedule 4Y calculates a corporation’s subtraction modification for dividends and is filed with Wisconsin Form 4. It lists payer and payee corporations, dates acquired by the payee, and dividends received, then subtracts foreign taxes paid on those dividends to determin
Who files this form
Schedule 4Y is for the Wisconsin subtraction modification for dividends. The 2024 schedule directs corporations to file it with Wisconsin Form 4. The form does not state detailed eligibility rules.
What you'll need
Have the following information ready to complete Schedule 4Y:
- Corporation name and federal employer ID number.
- Names of the payer and payee corporations for each entry.
- Date acquired by the payee, in month/day/year format.
- Dividends received.
- Foreign taxes paid on dividends included on line 2.
- Line 1g totals from any additional Schedules 4Y.
How to file
File the 2024 Schedule 4Y with Wisconsin Form 4. The supplied form does not give a mailing address or e-filing directions.
To complete the totals:
- Add lines 1a through 1f and enter the total on line 1g.
- Enter the total of line 1g from additional Schedules 4Y on line 1h.
- Add lines 1g and 1h on line 2.
- Enter foreign taxes paid on dividends included on line 2 on line 3.
- Subtract line 3 from line 2. Enter the result on line 4 and on Schedule 4W, line 1.
Common mistakes
Do not skip the instructions before completing the schedule. The form specifically says to read them before filling it in. Those instructions are not included in the supplied text.
Questions people ask
Which return goes with Schedule 4Y?
The form says to file Schedule 4Y with Wisconsin Form 4.
How do I include totals from additional Schedules 4Y?
Enter the total of line 1g from those additional schedules on line 1h. The form refers you to the instructions for this line.
Where do foreign taxes paid on dividends go?
Enter foreign taxes paid on dividends included on line 2 on line 3. Subtract line 3 from line 2 to calculate line 4.
Where do I carry the final amount?
Enter the amount from Schedule 4Y, line 4, on Schedule 4W, line 1.