ScheduleNOL1: ScheduleNOL1 (2025)
Wisconsin · Wisconsin DOR · Used for tax years 2025
Wisconsin Schedule NOL1 calculates your Wisconsin net operating loss for 2025. It combines Wisconsin income with adjustments for capital gains and losses, nonbusiness income and deductions, and net operating loss deductions for losses from other years.
Who files this form
Schedule NOL1 determines whether you have a Wisconsin net operating loss (NOL) for 2025. The form says to file it with Wisconsin Form 1, 1NPR, or 2 and includes special directions for estates and trusts.
If line 3 is zero or more, stop. The form says you do not have an NOL and should not complete the rest of the worksheet.
What you'll need
Have the following information available, as applicable:
- Your Wisconsin Form 1, 1NPR, or 2, including the name shown on the return and your Social Security number. Line 1 uses Wisconsin income from 2025 Form 1, line 7.
- Your allowable federal standard deduction.
- Amounts for business and nonbusiness capital gains and losses, nonbusiness deductions, and nonbusiness income other than capital gains.
- Your Wisconsin capital gain exclusion and long-term capital gains deferred or excluded because of investment in a qualified Wisconsin business or Wisconsin qualified opportunity fund.
- Schedule WD, or Schedule 2WD (Form 2) for estates and trusts. Lines 20 and 21 refer to losses on lines 18 and 28 of those schedules.
- Your NOL deduction for losses from other years.
Estates and trusts also need Wisconsin income and the charitable deduction, income distribution deduction, and exemption amount from their federal tax return.
How to file
File Schedule NOL1 with Wisconsin Form 1, 1NPR, or 2.
The supplied form does not give a mailing address or instructions for filing electronically.
Common mistakes
- Using the wrong sign: Enter amounts as positive numbers unless directed otherwise. Use a minus (-) sign for negative amounts. Line 2 specifically requires the allowable federal standard deduction as a negative number.
- Continuing when line 3 is zero or more: Stop at that point. The form says you do not have an NOL.
- Entering too much on line 14: Do not enter more than the amount on line 9.
- Completing lines 20 through 22 without a loss on the referenced line: If there is no loss on Schedule WD, line 18, or Schedule 2WD, line 18, skip lines 20 through 22 and enter line 19's amount on line 23.
Questions people ask
How do I know whether I have a Wisconsin NOL?
If line 3 is zero or more, you do not have an NOL and should stop. If you continue, combine lines 3, 4, 5, 13, 23, and 24 on line 25. A result below zero is your Wisconsin NOL. A result of zero or more means you do not have an NOL.
Are there special directions for estates and trusts?
Yes. Skip lines 1 and 2. On line 3, enter Wisconsin income increased by the charitable deduction and income distribution deduction allowed on the federal return. On line 5, enter the federal exemption amount as a positive number.
Where do I enter an NOL deduction for losses from other years?
Enter it on line 24 as a positive number.
Which return goes with Schedule NOL1?
The form says to file Schedule NOL1 with Wisconsin Form 1, 1NPR, or 2.