[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-304363-105":3,"detail-sidebar-cat-1-en-105":80,"doc-detail-304363-en":126},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":73,"head_meta":75,"extra_data":77,"updated_unix":79},105,"en","2024-wisconsin-schedule-i-instructions-general-instructions","2024 Wisconsin Schedule I Instructions - General Instructions","","2024 Wisconsin Schedule I explains how to adjust federal items on a Wisconsin income tax return when Wisconsin’s Internal Revenue Code definition differs from the federal IRC. It covers the effect of federal disaster tax relief exclusions and when Wisconsin must add back excluded payments to federal adjusted gross income. It also describes who must file, common adjustment triggers, and rules for making different federal elections for Wisconsin, including potential recomputation of affected federal forms.",{"@graph":14,"@context":72},[15,34,55],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/template/","Template",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/template/forms/","Forms",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/template/2024-wisconsin-schedule-i-instructions-general-instructions/304363/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/2024-wisconsin-schedule-i-instructions-general-instructions/304363.png","ImageObject",442,249,{"name":42,"@type":43},"Ben ","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-09-29","2026-09-19",true,{"@type":52,"interactionType":53,"userInteractionCount":26},"InteractionCounter",{"@type":54},"ViewAction",{"@type":56,"mainEntity":57},"FAQPage",[58,64,68],{"name":59,"@type":60,"acceptedAnswer":61},"When must a taxpayer complete 2024 Wisconsin Schedule I?","Question",{"text":62,"@type":63},"You must complete and attach Schedule I if your federal adjusted gross income (FAGI), itemized deductions, or federal credit for Wisconsin purposes reflects differences between Wisconsin and federal law for 2024.","Answer",{"name":65,"@type":60,"acceptedAnswer":66},"How does Wisconsin treat certain federal disaster relief exclusions?",{"text":67,"@type":63},"If payments are excluded for federal purposes solely due to P. L. 118-148, they must be added back to FAGI for Wisconsin purposes, following Wisconsin’s conformity rules.",{"name":69,"@type":60,"acceptedAnswer":70},"What are the options for using a different federal election for Wisconsin tax purposes?",{"text":71,"@type":63},"You may prepare a pro forma federal return based on the election chosen for Wisconsin (attached to Wisconsin Form 1 or 1NPR) or make the election using Wisconsin Schedule I adjustments.","https://schema.org",{"og:url":32,"og:type":74,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":76,"canonical":32},"index,follow",{"doc_id":78,"site_id":7},304363,1790662824,{"code":4,"msg":81,"data":82},"success",[83,88,93,98,103,108,112,117,122],{"id":84,"doc_module":22,"doc_module_name":25,"category_name":85,"show_sort_weight":86,"slug":87},11,"Presentations",90,"presentations",{"id":89,"doc_module":22,"doc_module_name":25,"category_name":90,"show_sort_weight":91,"slug":92},12,"Resumes",80,"resumes",{"id":94,"doc_module":22,"doc_module_name":25,"category_name":95,"show_sort_weight":96,"slug":97},14,"Invoices",70,"invoices",{"id":99,"doc_module":22,"doc_module_name":25,"category_name":100,"show_sort_weight":101,"slug":102},15,"Posters",60,"posters",{"id":104,"doc_module":22,"doc_module_name":25,"category_name":105,"show_sort_weight":106,"slug":107},16,"Social Media",50,"social-media",{"id":109,"doc_module":22,"doc_module_name":25,"category_name":29,"show_sort_weight":110,"slug":111},17,40,"forms",{"id":113,"doc_module":22,"doc_module_name":25,"category_name":114,"show_sort_weight":115,"slug":116},18,"Letters",30,"letters",{"id":118,"doc_module":22,"doc_module_name":25,"category_name":119,"show_sort_weight":120,"slug":121},21,"Paper Templates",5,"papers-templates",{"id":123,"doc_module":22,"doc_module_name":25,"category_name":124,"show_sort_weight":4,"slug":125},158,"General","general-158",{"code":4,"msg":81,"data":127},{"doc_id":78,"user_id":128,"nickname":42,"user_avatar":129,"doc_module":22,"category_id":109,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":33,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":135,"language":136,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":12,"update_tm":140,"read_time":30},2336478951081,"https://ap-avatar.wpscdn.com/davatar_276721f389ce27ea32af1340a28f341c","Disaster Payment Exclusion  \nOn December 12, 2024, President Biden signed the Federal Disaster Tax Relief Act of 2023 ( Public Law (P. L. ) 118- 148) . This act excludes certain relief payments from gross income for federal tax purposes. The exclusion applies to qualifying wildfire relief payments and East Palestine train derailment payments. The exclusion of wildfire relief payments is for payments received between January 1, 2020, and December 31, 2025,(inclusive), as a result of a qualified wildfire disaster.  \nWisconsin follows sec. 139, IRC, (Disaster Relief Payments) . To the extent that the payments discussed above are excluded from federal adjusted gross income (FAGI) solely due to P. L. 118-148, they must be added back to FAGI for Wisconsin purposes.  \n2024 Wisconsin Schedule I Instructions  \nGeneral Instructions  \nIntroduction – The computation of taxable income on the 2024 Wisconsin income tax return is based on the Internal Revenue Code (IRC) enacted as of December 31, 2022 , with the following exceptions:  \n• Certain provisions enacted into federal law prior to December 31, 2022 , do not apply for Wisconsin  \n• Only certain provisions enacted into federal law after December 31, 2022 , apply for Wisconsin  \nFor example, Wisconsin law has not adopted the federal bonus depreciation provisions for certain business assets or the exclusion from gross income for income from discharge of indebtedness on a qualified principal residence. These differences are a result of Wisconsin adopting a definition of “Internal Revenue Code” that is different than what is in effect for federal income tax purposes. This is also referred to as Wisconsin’s definition of the IRC.  \nAs a result, certain income and deduction items may be different for Wisconsin and federal purposes. These differences must be adjusted on Schedule I and are described beginning on the next page.  \nWho Must File – If the computation of your federal adjusted gross income (FAGI) , itemized deductions , or a federal credit for Wisconsin purposes reflects any of the differences in Wisconsin and federal law for 2024 , you must complete this schedule and attach it to your Wisconsin income tax return, Form 1 or Form 1NPR.  \nSchedule I adjustments made in a prior year may require a Schedule I adjustment in 2024. For example, if you claimed federal bonus depreciation on your 2023 return, you must recompute depreciation using the Wisconsin depreciable basis of the asset. The difference between the amount of bonus depreciation claimed on your federal return and the amount of depreciation allowed for Wisconsin purposes must be adjusted on Schedule I for 2023. An additional adjustment on Schedule I is required each year until the asset is fully depreciated for federal and Wisconsin purposes.  \nAn adjustment may also be required on Schedule I to adjust for differences in the amount of gain or loss reportable from sales or dispositions of assets during 2024. For example, an adjustment is required on Schedule I if the Wisconsin adjusted basis of the asset differs from the federal adjusted basis due to Wisconsin’s definition of the IRC, which results in a difference in gain or loss.  \nUsing a Different Federal Election for Wisconsin – Various elections are available under the federal IRC. When an election is available under the IRC adopted for Wisconsin, a taxpayer may choose one election for federal tax purposes and a different election for Wisconsin. For example, a taxpayer may elect to claim different amounts of IRC sec. 179 expense for federal and Wisconsin tax purposes. For additional information, see Wisconsin Tax Bulletin 214.  \nException: A taxpayer must use the same method of accounting used for federal income tax purposes if that method is authorized under the IRC in effect for Wisconsin.  \nEither of the following two methods may be used to claim a different election for Wisconsin and federal tax purposes.  \n• Prepare a pro forma federal return based on the election cho","cbCaieQ5TXi3Jhgd","https://ap.wps.com/l/cbCaieQ5TXi3Jhgd","pdf",236558,9,"English","# General Instructions\n## Introduction\n## Who Must File\n## Using a Different Federal Election for Wisconsin\n## Schedule I Adjustment May Require Recomputing Federal Forms and Schedules","[{\"question\":\"When must a taxpayer complete 2024 Wisconsin Schedule I?\",\"answer\":\"You must complete and attach Schedule I if your federal adjusted gross income (FAGI), itemized deductions, or federal credit for Wisconsin purposes reflects differences between Wisconsin and federal law for 2024.\"},{\"question\":\"How does Wisconsin treat certain federal disaster relief exclusions?\",\"answer\":\"If payments are excluded for federal purposes solely due to P. L. 118-148, they must be added back to FAGI for Wisconsin purposes, following Wisconsin’s conformity rules.\"},{\"question\":\"What are the options for using a different federal election for Wisconsin tax purposes?\",\"answer\":\"You may prepare a pro forma federal return based on the election chosen for Wisconsin (attached to Wisconsin Form 1 or 1NPR) or make the election using Wisconsin Schedule I adjustments.\"}]","2024 Wisconsin Schedule I Instructions - General Instructions | PDF",1789812429]