Instructions for Form I-170 Schedule WD Capital Gains and Losses - Wisconsin

This document contains official instructions for Form I-170 Schedule WD, Capital Gains and Losses - a form released and collected by the Wisconsin Department of Revenue.

FAQ

Q: What is Form I-170 Schedule WD?A: Form I-170 Schedule WD is a part of the Wisconsin state tax return which is used to report capital gains and losses.

Q: Who needs to complete Form I-170 Schedule WD?A: Individuals who have capital gains and losses in the state of Wisconsin need to complete this form.

Q: What is considered a capital gain or loss?A: A capital gain is the profit made from the sale of an asset, while a capital loss is the loss incurred from the sale of an asset.

Q: What information is required on Form I-170 Schedule WD?A: The form asks for details of each capital gain or loss, including the description of the asset, date acquired and sold, purchase and sale prices, and any adjustments.

Q: Is there a deadline to submit Form I-170 Schedule WD?A: Form I-170 Schedule WD must be submitted along with the Wisconsin state tax return by the tax filing deadline, which is usually April 15th.

Q: Is there any special tax treatment for capital gains and losses in Wisconsin?A: Wisconsin generally follows federal tax rules for the treatment of capital gains and losses, but there may be certain differences. It is recommended to consult a tax professional or refer to the Wisconsin Department of Revenue for more information.