Hello, I am working on a nonresident Wisconsin return. Wisconsin has pulled in the info from my Federal return about Capital Gains and Losses. On the Capital Gains and Losses Worksheet in forms view, I see that there's an option to omit these transactions from being included on my Wisconsin return and indicate that it is not subject to Wisconsin tax. How do I know if it should or should not be omitted?
You would exclude a capital gains and losses transaction if it is not taxable on a nonresident Wisconsin state income tax return because:
2023 Wisconsin Schedule WD Instructions here states:
Nonresidents and Part-Year Residents
Nonresidents should include only gain or loss from Wisconsin sources on Schedule WD. Part-year residents should include the gain or loss received from all sources while a Wisconsin resident and the gain or loss from Wisconsin sources while a nonresident.
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