Schedule5K-1: Schedule5K-1 (2025)
Wisconsin · Wisconsin DOR · Used for tax years 2025
Wisconsin Schedule 5K-1 reports a tax-option (S) corporation shareholder’s share of income, deductions, credits, and other items for 2025. It shows federal amounts, adjustments, amounts under Wisconsin law, and Wisconsin-source amounts.
What you'll need
Have the information requested on the form ready:
- The corporation’s name, address, and federal employer identification number (FEIN).
- The shareholder’s name, address, SSN or FEIN, shareholder type, stock ownership percentage, and state of residence.
- The shareholder’s share of income, deductions, credits, and other items, including federal amounts, Wisconsin adjustments, amounts under Wisconsin law, and Wisconsin-source amounts.
Include these supporting schedules when applicable:
- Schedule AR for an amended Schedule 5K-1.
- A schedule for other deductions reported on Part III, line 12d.
- Schedules for the Section 179, depreciation, amortization, and asset-basis differences reported on Part IV, lines 4, 5, 13, and 14.
- Schedule RT-1 from the related entity for Part IV, line 12, income from related entities whose expenses were disallowed. The form says to submit it with your return.
Common mistakes
- Forgetting Schedule AR with an amendment. The amended 5K-1 checkbox says to include Schedule AR.
- Completing items E through H for a full-year Wisconsin resident. The form says these items do not apply to full-year Wisconsin residents.
- Leaving out the taxpayer information for certain shareholders. If the shareholder is a disregarded entity, estate, or trust, enter the name and identifying number of the taxpayer to whom the income will be reported.
- Missing required supporting schedules. Follow the form’s “attach schedule” reminders, and obtain and submit Schedule RT-1 with your return when Part IV, line 12 applies.
Questions people ask
What does Schedule 5K-1 report?
It reports a tax-option (S) corporation shareholder’s share of income, deductions, credits, and other items. Part IV reports the shareholder’s share of Wisconsin additions and subtractions.
What if this is the final or an amended Schedule 5K-1?
Part II, item B has separate checkboxes for a final 5K-1 and an amended 5K-1. For an amended schedule, include Schedule AR.
Where is Wisconsin composite income tax paid for a nonresident shareholder reported?
Part II, item H has a checkbox for a nonresident shareholder who elected to have the corporation pay Wisconsin composite income tax on Form 1CNS. It also asks for the amount paid on the shareholder’s behalf.
How is the total adjustment in Part IV calculated?
Subtract total subtractions on line 20 from total additions on line 10. Enter the result on line 21.