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March 29, 2021
Question

WI part year resident - adjust capital gains

  • March 29, 2021
  • 1 reply
  • 0 views

I need to adjust my E-Trade Capital gains for the portions sold while a resident of WI & PA.  You only allow me to change the basis, but I need to separately report the basis, sales price and capital gains.   

 

This seems to be a bug.   HELP

    1 reply

    AmyC
    Employee
    April 3, 2021

    Not really. Here are the directions for both states. Let's start simple:

     

    For WI:

    1. enter the state program and select that you want to adjust your income.
    2. Continue through until you see Adjustments for Gains or Losses.
    3. Click Activate Adjustment.
    4. Enter the dollar amount of gains and losses attributable to WI. 

    For PA:

    1. Continue through until you reach PA Ownership of Gains and Losses
    2. Select the owner
    3. Continue through to select Not taxable to PA for WI income or requires an adjustment, if needed.
    4. You are wanting to put in correct information while the program is looking for the bottom line correct amount. So, simply change the basis to whatever number gives the correct answer for the PA income. Remember how simple WI was above? Try and keep this simple, just change the one box.

    The goal is to get the right dollars on the right return.

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