ScheduleT: ScheduleT (2025)
Wisconsin · Wisconsin DOR · Used for tax years 2025
Wisconsin Schedule T reports transitional adjustments for assets with different Wisconsin and federal tax bases. It covers capital assets, assets reported on federal Form 4797, and adjustments or amortization for changing basis assets, and is included with Wisconsin Form 1 or For
Who files this form
For tax year 2025, Schedule T covers these Wisconsin transitional adjustments:
- Part I: Complete this part if you sold or otherwise disposed of capital assets during 2025, recognized a gain or loss, and had a different Wisconsin basis than federal basis.
- Part II: Complete this part if you reported asset sales or other dispositions on federal Form 4797 and any asset had a different Wisconsin basis than federal basis.
- Part III: Complete this part to claim a 2025 adjustment or amortization for differences between the Wisconsin and federal basis of changing basis assets.
If your share of partnership, tax-option (S) corporation, estate, or trust income includes gains or losses reportable on federal Form 4797, and the Wisconsin and federal amounts differ, the form directs you to the Part II instructions. Those instructions were not provided.
What you'll need
Have the information and forms needed for the parts you complete:
- Your name as shown on Wisconsin Form 1 or Form 1NPR, and your Social Security number.
- Asset descriptions, reasons for basis differences, and federal and Wisconsin adjusted basis amounts.
- Part I: Whether each capital asset was held one year or less, or more than one year, plus Wisconsin Schedule WD for the totals.
- Part II: Federal Form 4797 and the “Wisconsin” Form 4797 amounts for net ordinary gains and losses.
- Part III: Property acquisition dates, the number of months elected for adjustment or amortization, basis differences, and 2025 adjustment or amortization amounts.
- Schedule AD or Schedule SB, as directed for the adjustments you report.
How to file
Include Schedule T with your Wisconsin Form 1 or Form 1NPR.
Transfer the applicable totals as directed:
- Part I, line 1b goes to line 6 of Wisconsin Schedule WD. Line 2b goes to line 15 of Schedule WD.
- Part II, lines 4c and 4h go to line 10 of Schedule AD. Lines 4d and 4g go to line 39 of Schedule SB.
- Part III, line 6 goes to line 10 of Schedule AD. Line 8 goes to line 39 of Schedule SB. Form 1NPR filers are directed to see the instructions.
The supplied form does not give a mailing address or e-filing directions.
Common mistakes
- Do not enter losses as negative numbers on lines 4e through 4h. The form says to enter losses as positive numbers when computing these lines.
- On lines 4a, 4b, 4e, and 4f, enter zero if the corresponding Form 4797 line is blank.
- Nonresidents and part-year residents are directed to see the instructions for the line 4 ordinary gain or loss adjustment.
- If you file Form 1NPR, follow the form’s reminder to see the instructions for Part III totals on lines 6 and 8.
- Include Schedule T with Form 1 or Form 1NPR.
Questions people ask
How do I separate capital assets in Part I?
List assets held one year or less on line 1a. List assets held more than one year on line 2a. Each group asks for an asset description and the reason for the basis difference.
Where do my Part I totals go?
Combine column C amounts for each group. Enter the line 1b total on line 6 of Wisconsin Schedule WD and the line 2b total on line 15 of Schedule WD.
What if the ordinary gain or loss line on Form 4797 is blank?
For Schedule T lines 4a, 4b, 4e, and 4f, enter zero when the corresponding federal or “Wisconsin” Form 4797 line is blank.
Which part covers changing basis assets?
Part III covers the 2025 adjustment or amortization for changing basis assets. Use line 5 when federal adjusted basis is greater than Wisconsin adjusted basis, and line 7 when Wisconsin adjusted basis is greater than federal adjusted basis.