ScheduleVC: ScheduleVC (2024)
Wisconsin · Wisconsin DOR · Used for tax years 2024
Wisconsin Schedule VC calculates the 2024 angel investment credit and early stage seed investment credit. It reports qualified investments, credits passed through from other entities, unused credit carryovers, and credit transfers.
Who files this form
Use 2024 Wisconsin Schedule VC for the venture capital credits listed on the form:
- If you qualify for the angel investment credit, complete Part I.
- If you qualify for the early stage seed investment credit, complete Part II.
The schedule also includes sections for credits passed through from other entities, unused credit carryovers, and credits transferred between taxpayers.
What you'll need
Have the following information and attachments ready, as applicable:
- Your name and identifying number.
- Investment dates, business venture or certified fund manager names, and total and qualified investment amounts.
- Wisconsin Economic Development Corporation (WEDC) certification for qualified investments reported on line 1d or 7d.
- Entity names, federal employer identification numbers (FEINs), and amounts for passed-through credits.
- Schedule CF for unused credit carryovers, or if the available credit was not used in full.
- Separate schedules if you need more space to list investments or passed-through credits.
- For transfers: names, addresses, identifying numbers, and transferred amounts. Part III also asks for investment fund manager and WEDC approval dates. Part IV asks for WEDC notification dates.
How to file
File Schedule VC with Wisconsin Form 1, 1NPR, 2, 3, 4, 4T, 5S, or 6.
Complete Part I for the angel investment credit or Part II for the early stage seed investment credit. Use Part III to report early stage seed investment credit transfers and Part IV to report angel investment credit transfers.
The supplied form text does not provide a mailing address or e-filing directions.
Common mistakes
Follow these reminders printed on the form:
- Read the instructions before filling in the schedule.
- Round amounts to the nearest dollar.
- Include WEDC certification with the qualified investment totals on lines 1d and 7d.
- Include Schedule CF when reporting unused credit carryovers and when the available credit was not used in full.
- Attach separate schedules if you need more space for investment details.
Questions people ask
How is the angel investment credit calculated?
Part I, line 2 multiplies total qualified investments on line 1d by 25%. Line 4 then adds that amount, passed-through credits, and credits transferred from other taxpayers to calculate the 2024 credit.
How is the early stage seed investment credit calculated?
Part II, line 8 tells you to multiply total qualified investment on line 7d by 25%, or enter the credit specially allocated to you. Line 11 adds line 8, passed-through credits, and credits transferred from other taxpayers.
Where do I report unused credit carryovers?
Report unused angel investment credit on Part I, line 5, and unused early stage seed investment credit on Part II, line 12. Include Schedule CF.
Where do I report credit transfers?
Use Part III for early stage seed investment credit transfers in 2024. Use Part IV for angel investment credit transfers in 2024.