Instructions for Form I-027 Schedule 2WD Capital Gains and Losses - Wisconsin

Form I-027 Schedule 2WD Capital Gains and Losses - Wisconsin

This document contains official instructions for Form I-027 Schedule 2WD, Capital Gains and Losses - a form released and collected by the Wisconsin Department of Revenue. An up-to-date fillable Form I-027 Schedule 2WD is available for download through this link.

FAQ

Q: What is Form I-027?A: Form I-027 is the Schedule 2WD used to report capital gains and losses for Wisconsin.

Q: What is a capital gain?A: A capital gain is a profit made from the sale of a capital asset like stocks, real estate, or bonds.

Q: What is a capital loss?A: A capital loss is the opposite of a capital gain and occurs when a capital asset is sold for less than its original purchase price.

Q: Who needs to fill out Form I-027?A: Resident individuals, part-year residents, and nonresidents who have capital gains or losses from Wisconsin sources are required to fill out this form.

Q: Do I need to include all my capital gains and losses on Form I-027?A: Yes, you need to include all capital gains and losses from Wisconsin sources on this form, even if you have federal capital gains or losses that aren't taxable in Wisconsin.

Q: When is the deadline for filing Form I-027?A: The deadline for filing Form I-027 is the same as the deadline for filing your Wisconsin income tax return, which is usually April 15th.

Q: Can I file Form I-027 electronically?A: Yes, you can file Form I-027 electronically using the Wisconsin e-file system.

Q: What should I do if I have questions or need assistance with Form I-027?A: If you have questions or need assistance with Form I-027, you can contact the Wisconsin Department of Revenue or seek help from a tax professional.