ScheduleLI: ScheduleLI (2025)
Wisconsin · Wisconsin DOR · Used for tax years 2025
Wisconsin Schedule LI calculates the available low-income housing tax credit. It reports credits allocated by the Wisconsin Housing and Economic Development Authority (WHEDA), credits passed through from other entities, unused credit carryovers, and any credit allocated to benefi
Who files this form
Schedule LI is used to report the Wisconsin low-income housing tax credit, including credits allocated by the Wisconsin Housing and Economic Development Authority (WHEDA), credits passed through from other entities, and unused credit carryovers.
The form directs filers to submit it with Wisconsin Form 1, 1NPR, 2, 3, 4, 4T, 5S, or 6.
What you'll need
- Your name and identifying number.
- WHEDA certification for credits entered on line 1.
- The entity name, FEIN, and credit amount for credits passed through from other entities.
- An additional schedule for any additional pass-through credits reported on line 2c.
- Schedule CF if you report an unused credit carryover on line 4 or do not use the available credit in full.
- For fiduciaries, the amount of credit allocated to beneficiaries.
How to file
File Schedule LI with Wisconsin Form 1, 1NPR, 2, 3, 4, 4T, 5S, or 6. The supplied form does not provide a mailing address or e-filing directions.
To complete the schedule:
- Enter WHEDA-allocated credits on line 1 and include the WHEDA certification.
- Report pass-through credits on lines 2a through 2c, then total them on line 2d.
- Add lines 1 and 2d on line 3. Fiduciaries enter the credit allocated to beneficiaries on line 3a and subtract it from line 3 on line 3b.
- Enter unused credit carryovers on line 4 and include Schedule CF.
- Add lines 3 and 4, or lines 3b and 4 for a fiduciary, to determine the available credit on line 5. Include Schedule CF if the credit was not used in full.
Common mistakes
- Skipping the reminder to read the instructions before completing the schedule. No instructions were included in the supplied text.
- Failing to round amounts to the nearest dollar.
- Omitting the WHEDA certification for line 1.
- Omitting Schedule CF when reporting a carryover or when the credit was not used in full.
Questions people ask
Can I report credits passed through from another entity?
Yes. Lines 2a and 2b ask for the entity name, FEIN, and credit amount. Line 2c is for total pass-through credits from an additional schedule.
Can I include unused credit from a prior year?
Line 4 provides for a carryover of unused low-income housing tax credit. Include Schedule CF.
How do fiduciaries account for credits allocated to beneficiaries?
Enter the amount allocated to beneficiaries on line 3a. Subtract that amount from line 3 on line 3b, then use line 3b when calculating line 5.
Why does line 3 mention 2024 on the 2025 form?
The heading identifies the form as 2025, but line 3 calls the amount the “2024 low-income housing tax credit.” The supplied text does not explain this difference.