Instructions for Form I-054 Schedule NOL1 Wisconsin Net Operating Loss Deduction - Wisconsin

Form I-054 Schedule NOL1 Wisconsin Net Operating Loss Deduction - Wisconsin

This document contains official instructions for Form I-054 Schedule NOL1, Wisconsin Net Operating Loss Deduction - a form released and collected by the Wisconsin Department of Revenue. An up-to-date fillable Form I-054 Schedule NOL1 is available for download through this link.

FAQ

Q: What is Form I-054 Schedule NOL1?
A: Form I-054 Schedule NOL1 is a tax form used in Wisconsin to claim the net operating loss deduction.

Q: What is the Wisconsin Net Operating Loss Deduction?
A: The Wisconsin Net Operating Loss Deduction is a deduction that allows businesses to offset current year profits with previous year's losses.

Q: Who needs to file Form I-054 Schedule NOL1?
A: Businesses in Wisconsin that have experienced a net operating loss and want to claim the deduction need to file Form I-054 Schedule NOL1.

Q: How do I file Form I-054 Schedule NOL1?
A: Form I-054 Schedule NOL1 can be filed electronically or by mail. The instructions on the form provide details on how to submit it.

Q: What information do I need to complete Form I-054 Schedule NOL1?
A: To complete Form I-054 Schedule NOL1, you will need information about your net operating loss and income from the previous years.

Q: When is the deadline to file Form I-054 Schedule NOL1?
A: The deadline for filing Form I-054 Schedule NOL1 in Wisconsin is the same as the deadline for filing your state tax return, which is usually April 15th.