ScheduleWD: ScheduleWD (2024)
Wisconsin · Wisconsin DOR · Used for tax years 2024
Wisconsin Schedule WD reports short-term and long-term capital gains and losses and is included with Form 1 or Form 1NPR. It calculates the Wisconsin adjustment to income and any capital loss carryovers from 2024 to 2025.
Who files this form
The 2024 Wisconsin Schedule WD is used to report capital gains and losses with Wisconsin Form 1 or Form 1NPR. It covers short-term and long-term gains and losses, Wisconsin adjustments, and capital loss carryovers.
The form does not state a complete rule for who must file it.
What you'll need
Have your Wisconsin Form 1 or Form 1NPR and the records that apply to your entries:
- Federal Schedule D and Form(s) 8949 for sales proceeds, cost or other basis, and adjustments.
- Federal Form 1040 or 1040-SR for the capital gain or loss used in Part IV.
- Schedule(s) K-1 for gains or losses from partnerships, S corporations, estates, and trusts.
- Forms 2439, 4797, 6252, 4684, 6781, and 8824, if they contain gains or losses reported on Schedule WD.
- Wisconsin Schedules T, QI, and I, if applicable.
- Your 2023 Wisconsin Schedule WD if you have a capital loss carryover. The 2024 form uses line 34 for a short-term carryover and line 39 for a long-term carryover.
How to file
Include the completed 2024 Schedule WD with Wisconsin Form 1 or Form 1NPR. Enter the name(s) shown on that return and your Social Security number.
The supplied form does not provide a mailing address or e-file directions.
Common mistakes
- Not rounding amounts. The form says to round all amounts.
- Using the wrong sign. Use a minus sign for negative amounts. Lines 7, 15a, and 16 specifically require negative entries. Where a line asks for a loss as a positive amount, follow that direction.
- Including losses on line 22. The form specifically says not to include any losses in that amount.
- Comparing signed numbers on line 28. Treat all three amounts as positive when deciding which is smallest.
- Skipping the carryover calculation when it is required. Complete Part V if the loss on line 18 is more than the loss on line 28.
Questions people ask
What is the difference between short-term and long-term on this form?
Part I covers assets held one year or less. Part II covers assets held more than one year.
Where do I enter a capital loss carryover from 2023?
Enter the short-term carryover from your 2023 Wisconsin Schedule WD, line 34, on line 7. Enter the long-term carryover from the 2023 schedule, line 39, on line 16. Enter both as negative amounts.
What if I have no long-term gain from selling farm assets on line 21?
If line 21 is zero, skip lines 22 through 25 and enter the amount from line 20 on line 26.
Where do I calculate a loss carryover to 2025?
Use Part V if the loss on line 18 is more than the loss on line 28. Line 34 gives the short-term capital loss carryover from 2024 to 2025, and line 39 gives the long-term carryover.