71.05(6)(a)3.
3. Any amount deducted as a capital loss carry-over from any taxable year prior to the 1965 taxable year.
71.05(6)(a)4.
4. The amount of any lump sum distribution taxable under section
402 (d) (1) of the internal revenue code (relating to distributions from employe benefit plans).
71.05(6)(a)5.
5. Any amount deducted as a capital loss carry-over from any taxable year prior to the 1975 taxable year if the capital asset which generated the loss had a situs outside of Wisconsin.
71.05(6)(a)6.
6. Any amount received in taxable year 1979 or thereafter by a Wisconsin resident shareholder as a proportionate share of the earnings and profits of a tax-option corporation which was accumulated prior to the beginning of its 1979 taxable year and not considered a dividend when received under section
1375 (d) (1) of the internal revenue code as amended to December 31, 1978.
71.05(6)(a)7.
7. Any amount deducted under section
170 (i) of the internal revenue code (relating to the deduction of charitable contributions by individuals who do not itemize deductions).
71.05(6)(a)9.
9. Any amount excluded from adjusted gross income under section
641 (c) (1) of the internal revenue code (relating to gain on the sale of any property by a trust within 2 years of acquisition).
71.05(6)(a)10.
10. For the taxable year, for a person who is not "actively engaged in farming", as that term is used in
7 CFR 1497.201, combined net losses, exclusive of net gains from the sale or exchange of capital or business assets and exclusive of net profits, from businesses, from rents, from partnerships, from limited liability companies, from S corporations, from estates or from trusts, under section
165 of the internal revenue code, except losses allowable under sections
1211 and
1231 of the internal revenue code, otherwise includable in calculating Wisconsin income if those losses are incurred in the operation of a farming business, as defined in section
464 (e)
1. of the internal revenue code to the extent that those combined net losses exceed $20,000 if nonfarm Wisconsin adjusted gross income exceeds $55,000 but does not exceed $75,000, exceed $17,500 if nonfarm Wisconsin adjusted gross income exceeds $75,000 but does not exceed $100,000, exceed $15,000 if nonfarm Wisconsin adjusted gross income exceeds $100,000 but does not exceed $150,000, exceed $12,500 if nonfarm Wisconsin adjusted gross income exceeds $150,000 but does not exceed $200,000, exceed $10,000 if nonfarm Wisconsin adjusted gross income exceeds $200,000 but does not exceed $250,000, exceed $7,500 if nonfarm Wisconsin adjusted gross income exceeds $250,000 but does not exceed $300,000, exceed $5,000 if nonfarm Wisconsin adjusted gross income exceeds $300,000 but does not exceed $600,000 and exceed $0 if nonfarm adjusted gross income exceeds $600,000, except that the amounts applicable to married persons filing separately are 50% of the amounts specified in this subdivision.
71.05(6)(a)12.
12. All alimony deducted for federal income tax purposes and paid while the individual paying the alimony was a nonresident of this state; all penalties for early withdrawals from time savings accounts and deposits deducted for federal income tax purposes and paid while the individual charged with the penalty was a nonresident of this state; all repayments of supplemental unemployment benefit plan payments deducted for federal income tax purposes and made while the individual making the repayment was a nonresident of this state; all reforestation expenses related to property not in this state, deducted for federal income tax purposes and paid while the individual paying the expense was not a resident of this state; all contributions to individual retirement accounts, simplified employe pension plans and self-employment retirement plans and all deductible employe contributions, deducted for federal income tax purposes and in excess of that amount multiplied by a fraction the numerator of which is the individual's wages and net earnings from a trade or business taxable by this state and the denominator of which is the individual's total wages and net earnings from a trade or business; the contributions to a Keogh plan deducted for federal income tax purposes and in excess of that amount multiplied by a fraction the numerator of which is the individual's net earnings from a trade or business, taxable by this state, and the denominator of which is the individual's total net earnings from a trade or business; the amount of health insurance costs of self-employed individuals deducted under section
162 (L) of the internal revenue code for federal income tax purposes and in excess of that amount multiplied by a fraction the numerator of which is the individual's net earnings from a trade or business, taxable by this state, and the denominator of which is the individual's total net earnings from a trade or business; and the amount of self-employment taxes deducted under section
164 (f) of the internal revenue code for federal income tax purposes and in excess of that amount multiplied by a fraction the numerator of which is the individual's net earnings from a trade or business, taxable by this state, and the denominator of which is the individual's total net earnings from a trade or a business.
71.05(6)(a)13.
13. The amount claimed by a fiduciary as an itemized deduction under section
164 or
216 (a) (1) of the internal revenue code on the federal fiduciary return.
71.05(6)(a)14.
14. Any amount received as a proportionate share of the earnings and profits of a corporation that is an S corporation for federal income tax purposes if those earnings and profits accumulated during a year for which the shareholders have elected under
s. 71.365 (4) not to be a tax-option corporation, to the extent not included in federal adjusted gross income for the current year.
71.05(6)(a)16.
16. Any amount recognized as a loss under section
1001 (c) of the internal revenue code if a surviving spouse and a distributee exchange their interests in marital property under
s. 857.03 (2).
71.05(6)(a)18.
18. Any amount deducted as moving expenses under section
217 of the internal revenue code if the expense relates to a move made by an individual who changes his or her domicile from this state as a result of the move or if the expense relates to a move made by an individual who is not domiciled in this state as a result of the move.
71.05(6)(a)20.
20. The amount of any excess distribution, as that term is used in section
1291 (b) of the Internal Revenue Code, from a passive foreign investment company.
71.05(6)(b)
(b)
Subtractions. From federal adjusted gross income subtract to the extent included in federal taxable or adjusted gross income unless the modification is an item, other than a capital gain deduction under
s. 71.36 or interest on U.S. obligations, that is passed through to an individual from a tax-option corporation and would be included in that corporation's income if it were not a tax-option corporation:
71.05(6)(b)1.
1. The amount of any interest or dividend income which is by federal law exempt from taxation by this state less the related expense in regard to both the distributable and nondistributable interest and dividend income on a fiduciary return.
71.05(6)(b)3.
3. Any other amount not subject to taxation under this chapter, less any amount allocable thereto which has been deducted in the computation of federal taxable or adjusted gross income except amounts used to calculate the credit under
s. 71.07 (5).
71.05(6)(b)4.
4. Disability payments, if the individual either is single or is married and files a joint return, to the extent those payments are excludable under section
105 (d) of the internal revenue code as it existed immediately prior to its repeal in 1983 by section 122 (b) of
P.L. 98-21, except that if an individual is divorced during the taxable year that individual may subtract an amount only if that person is disabled and the amount that may be subtracted then is $100 for each week that payments are received or the amount of disability pay reported as income, whichever is less. If the exclusion under this subdivision is claimed on a joint return and only one of the spouses is disabled, the maximum exclusion is $100 for each week that payments are received or the amount of disability pay reported as income, whichever is less.
71.05(6)(b)5.
5. Any amounts that are recoveries of federal itemized deductions for which no tax benefit was received for Wisconsin purposes.
71.05(6)(b)6.
6. For the original purchaser of small business stock that is purchased at the time that the business is incorporated, the amount of net capital gains on small business stock otherwise subject to the tax under
s. 71.02 if the taxpayer has not acquired the stock by gift, has not acquired the stock in a stock-for-stock exchange and submits with the taxpayer's return a copy of the certification under
s. 71.01 (10).
71.05(6)(b)8.
8. The difference between the amount included in federal adjusted gross income for the current year and the amount calculated under section
85 of the internal revenue code (relating to unemployment compensation) as that section existed on December 31, 1985.
71.05(6)(b)9.
9. On assets held more than one year and on all assets acquired from a decedent, 60% of the capital gain as computed under the internal revenue code, not including capital gains for which the federal tax treatment is determined under section 406 of
P.L. 99-514 and not including amounts treated as ordinary income for federal income tax purposes because of the recapture of depreciation or any other reason. For purposes of this subdivision, the capital gains and capital losses for all assets shall be netted before application of the percentage.
71.05(6)(b)10.
10. Farm losses added to income under
par. (a) 10. in any of the 15 preceding years, to the extent that they are not offset against farm income of any year between the loss year and the taxable year for which the modification under this subdivision is claimed and to the extent that they do not exceed the net profits or net gains from the sale or exchange of capital or business assets in the current taxable year from the same farming business or portion of that business to which the limits on deductible farm losses under
par. (a) 10. applied in the loss year.
71.05(6)(b)12.
12. Any amount recognized as a gain under section
1001 (c) of the internal revenue code if a surviving spouse and a distributee exchange their interests in marital property under
s. 857.03 (2).
71.05(6)(b)13.
13. Any amount of basic, special and incentive pay income or compensation, as those terms are used in
37 USC chapters 3 and
5, received from the federal government by a person who is a member of a reserve component of the U.S. armed forces, as defined in
26 USC 7701 (a) (15), and is below the grade of commissioned officer, for services performed for Operation Desert Shield or Operation Desert Storm. In this subdivision, "services performed for Operation Desert Shield or Operation Desert Storm" means service in a unit of the U.S. armed forces if:
71.05(6)(b)13.a.
a. The person is activated for Operation Desert Shield or Operation Desert Storm; and
71.05(6)(b)13.b.
b. The service occurs during the period that there is in effect a designation by the president of the United States that the service is part of Operation Desert Shield or Operation Desert Storm.
71.05(6)(b)14.
14. Up to $500 per month of basic, special and incentive pay income or compensation, as those terms are used in
37 USC chapters 3 and
5, received from the federal government by a person who is a member of a reserve component of the U.S. armed forces, as defined in
26 USC 7701 (a) (15), and is a commissioned officer, for services performed for Operation Desert Shield or Operation Desert Storm. In this subdivision, "services performed for Operation Desert Shield or Operation Desert Storm" means service in a unit of the U.S. armed forces if:
71.05(6)(b)14.a.
a. The person is activated for Operation Desert Shield or Operation Desert Storm; and
71.05(6)(b)14.b.
b. The service occurs during the period that there is in effect a designation by the president of the United States that the service is part of Operation Desert Shield or Operation Desert Storm.
71.05(6)(b)17.
17. For taxable years beginning after December 31, 1992, and before January 1, 1994, an amount paid by a self-employed person, or an amount paid by a person who is the employe of another person if the person's employer pays no amount of money toward the person's medical care insurance, for medical care insurance for the person, his or her spouse and the person's dependents, calculated as follows:
71.05(6)(b)17.a.
a. Twenty-five percent of the amount paid by the person for medical care insurance. In this subdivision, "medical care insurance" means a medical care insurance policy that covers the person, his or her spouse and the person's dependents and provides surgical, medical, hospital, major medical or other health service coverage, and includes payments made for medical care benefits under a self-insured plan, but "medical care insurance" does not include hospital indemnity policies or policies with ancillary benefits such as accident benefits or benefits for loss of income resulting from a total or partial inability to work because of illness, sickness or injury.
71.05(6)(b)17.b.
b. From the amount calculated under
subd. 17. a., subtract the amounts deducted from gross income for medical care insurance in the calculation of federal adjusted gross income.
71.05(6)(b)17.c.
c. For a person who is a nonresident or a part-year resident of this state, modify the amount calculated under
subd. 17. b. by multiplying the amount by a fraction the numerator of which is the person's net earnings from a trade or business taxable by this state and the denominator of which is the person's total net earnings from a trade or business.
71.05(6)(b)17.d.
d. Reduce the amount calculated under
subd. 17. b. or
c. to the person's aggregate net earnings from a trade or business that are taxable by this state.
71.05(6)(b)18.
18. For taxable years beginning after December 31, 1993, and before January 1, 1995, an amount paid by a self-employed person, or an amount paid by a person who is the employe of another person if the person's employer pays no amount of money toward the person's medical care insurance, for medical care insurance for the person, his or her spouse and the person's dependents, calculated as follows:
71.05(6)(b)18.a.
a. Fifty percent of the amount paid by the person for medical care insurance. In this subdivision, "medical care insurance" means a medical care insurance policy that covers the person, his or her spouse and the person's dependents and provides surgical, medical, hospital, major medical or other health service coverage, and includes payments made for medical care benefits under a self-insured plan, but "medical care insurance" does not include hospital indemnity policies or policies with ancillary benefits such as accident benefits or benefits for loss of income resulting from a total or partial inability to work because of illness, sickness or injury.
71.05(6)(b)18.b.
b. From the amount calculated under
subd. 18. a., subtract the amounts deducted from gross income for medical care insurance in the calculation of federal adjusted gross income.
71.05(6)(b)18.c.
c. For a person who is a nonresident or a part-year resident of this state, modify the amount calculated under
subd. 18. b. by multiplying the amount by a fraction the numerator of which is the person's net earnings from a trade or business taxable by this state and the denominator of which is the person's total net earnings from a trade or business.
71.05(6)(b)18.d.
d. Reduce the amount calculated under
subd. 18. b. or
c. to the person's aggregate net earnings from a trade or business that are taxable by this state.
71.05(6)(b)19.
19. For taxable years beginning on or after January 1, 1995, an amount paid by a self-employed person for medical care insurance for the person, his or her spouse and the person's dependents, calculated as follows:
71.05(6)(b)19.a.
a. One hundred percent of the amount paid by the person for medical care insurance. In this subdivision, "medical care insurance" means a medical care insurance policy that covers the person, his or her spouse and the person's dependents and provides surgical, medical, hospital, major medical or other health service coverage, and includes payments made for medical care benefits under a self-insured plan, but "medical care insurance" does not include hospital indemnity policies or policies with ancillary benefits such as accident benefits or benefits for loss of income resulting from a total or partial inability to work because of illness, sickness or injury.
71.05(6)(b)19.b.
b. From the amount calculated under
subd. 19. a., subtract the amounts deducted from gross income for medical care insurance in the calculation of federal adjusted gross income.
71.05(6)(b)19.c.
c. For a person who is a nonresident or a part-year resident of this state, modify the amount calculated under
subd. 19. b. by multiplying the amount by a fraction the numerator of which is the person's net earnings from a trade or business that are taxable by this state and the denominator of which is the person's total net earnings from a trade or business.
71.05(6)(b)19.d.
d. Reduce the amount calculated under
subd. 19. b. or
c. to the person's aggregate net earnings from a trade or business that are taxable by this state.
71.05(6)(b)20.
20. For taxable years beginning on or after January 1, 1995, an amount paid by a person who is the employe of another person if the person's employer pays no amount of money toward the person's medical care insurance, for medical care insurance for the person, his or her spouse and the person's dependents, calculated as follows:
71.05(6)(b)20.a.
a. Fifty percent of the amount paid by the person for medical care insurance. In this subdivision, "medical care insurance" means a medical care insurance policy that covers the person, his or her spouse and the person's dependents and provides surgical, medical, hospital, major medical or other health service coverage, and includes payments made for medical care benefits under a self-insured plan, but "medical care insurance" does not include hospital indemnity policies or policies with ancillary benefits such as accident benefits or benefits for loss of income resulting from a total or partial inability to work because of illness, sickness or injury.
71.05(6)(b)20.b.
b. From the amount calculated under
subd. 20. a., subtract the amounts deducted from gross income for medical care insurance in the calculation of federal adjusted gross income.
71.05(6)(b)20.c.
c. For a person who is a nonresident or a part-year resident of this state, modify the amount calculated under
subd. 20. b. by multiplying the amount by a fraction the numerator of which is the person's net earnings from a trade or business taxable by this state and the denominator of which is the person's total net earnings from a trade or business.
71.05(6)(b)20.d.
d. Reduce the amount calculated under
subd. 20. b. or
c. to the person's aggregate net earnings from a trade or business that are taxable by this state.
71.05(6)(b)21.
21. The difference between the amount of social security benefits included in federal adjusted gross income for the current year and the amount calculated under section
86 of the internal revenue code as that section existed on December 31, 1992.
71.05(6)(b)22.
22. For taxable years beginning after December 31, 1995, an amount up to $5,000 that is expended during the period that consists of the year to which the claim relates and the prior 2 taxable years, by a full-year resident of this state who is an adoptive parent, for adoption fees, court costs or legal fees relating to the adoption of a child, for whom a final order of adoption has been entered under
s. 48.91 (3) during the taxable year.
71.05(6)(b)23.
23. Any increase in value of a tuition unit that is purchased under a tuition contract under
s. 16.24.
71.05(6)(b)25.
25. All gains that are not excluded from taxation under
subd. 9., on business assets or on assets used in farming, including shares in a corporation or trust that meets the standards under
s. 182.001 (1), or both, held more than one year, that are sold or otherwise disposed of to persons who are related to the seller or transferor by blood, marriage or adoption within the 3rd degree of kinship as that term is used in
s. 852.03 (2), [1995 stats.,] as computed under the Internal Revenue Code, not including amounts treated as ordinary income for federal income tax purposes because of the recapture of depreciation or any other reason.
71.05 Note
NOTE: Section 852.03 (2) was repealed by
1997 Wis. Act 188. Corrective legislation is pending.
71.05(6)(b)26.
26. For taxable years beginning on or after January 1, 1998, an amount paid by a person for a long-term care insurance policy for the person and his or her spouse, calculated as follows:
71.05(6)(b)26.a.
a. One hundred percent of the amount paid by the person for a long-term care insurance policy. In this subdivision, "long-term care insurance policy" means a disability insurance policy or certificate advertised, marketed, offered or designed primarily to provide coverage for care that is provided in the insured person's home or in institutional and community-based settings and that is convalescent or custodial care or care for a chronic condition or terminal illness; the term does not include a medicare supplement policy or medicare replacement policy or a continuing care contract, as defined in
s. 647.01 (2). "Long-term care insurance policy" applies to a policy that covers the person and his or her spouse.
71.05(6)(b)26.b.
b. From the amount calculated under
subd. 26. a., subtract the amounts deducted from gross income for a long-term care insurance policy in the calculation of federal adjusted gross income.
71.05(6)(b)26.c.
c. For a person who is a nonresident or a part-year resident of this state, modify the amount calculated under
subd. 26. b. by multiplying the amount by a fraction the numerator of which is the person's wages, unearned income and net earnings from a trade or business that are taxable by this state and the denominator of which is the person's total wages, unearned income and net earnings from a trade or business.
71.05(6)(b)26.d.
d. Reduce the amount calculated under
subd. 26. b. or
c. to the person's aggregate wages, unearned income and net earnings from a trade or business that are taxable by this state.
71.05(6)(b)28.
28. An amount paid by a claimant for tuition expenses for a student who is the claimant or who is the claimant's child and the claimant's dependent who is claimed under section
151 (c) of the Internal Revenue Code, to attend any university, college, technical college or a school approved under
s. 39.51, that is located in Wisconsin or to attend a public vocational school or public institution of higher education in Minnesota under the Minnesota-Wisconsin reciprocity agreement under
s. 39.47, calculated as follows:
71.05(6)(b)28.a.
a. An amount equal to not more than $3,000 per student for each year to which the claim relates.
71.05(6)(b)28.b.
b. From the amount calculated under
subd. 28. a., if the claimant is single or married and filing as head of household and his or her federal adjusted gross income is more than $50,000 but not more than $60,000, subtract the product of the amount calculated under
subd. 28. a. and the value of a fraction, the denominator of which is $10,000 and the numerator of which is the difference between the claimant's federal adjusted gross income and $50,000.
71.05(6)(b)28.c.
c. From the amount calculated under
subd. 28. a., if the claimant is married and filing jointly and the claimant's and his or her spouse's federal adjusted gross income is more than $80,000 but not more than $100,000, subtract the product of the amount calculated under
subd. 28. a. and the value of a fraction, the denominator of which is $20,000 and the numerator of which is the difference between the claimant's and his or her spouse's federal adjusted gross income and $80,000.
71.05(6)(b)28.d.
d. From the amount calculated under
subd. 28. a., if the claimant is married and filing separately and the claimant's federal adjusted gross income is more than $40,000 but not more than $50,000, subtract the product of the amount calculated under
subd. 28. a. and the value of a fraction, the denominator of which is $10,000 and the numerator of which is the difference between the claimant's federal adjusted gross income and $40,000.
71.05(6)(b)28.e.
e. For an individual who is a nonresident or part-year resident of this state, multiply the amount calculated under
subd. 28. b.,
c. or
d. by a fraction the numerator of which is the individual's wages, salary, tips, unearned income and net earnings from a trade or business that are taxable by this state and the denominator of which is the individual's total wages, salary, tips, unearned income and net earnings from a trade or business. In this
subd. 28. e., for married persons filing separately "wages, salary, tips, unearned income and net earnings from a trade or business" means the separate wages, salary, tips, unearned income and net earnings from a trade or business of each spouse, and for married persons filing jointly "wages, salary, tips, unearned income and net earnings from a trade or business" means the total wages, salary, tips, unearned income and net earnings from a trade or business of both spouses.
71.05(6)(b)28.f.
f. Reduce the amount calculated under
subd. 28. e. to the individual's aggregate wages, salary, tips, unearned income and net earnings from a trade or business that are taxable by this state.
71.05(6)(b)28.g.
g. No modification may be claimed under this subdivision by a claimant who is single or married and filing as head of household if the claimant's federal adjusted gross income is more than $60,000, by a claimant who is married and filing jointly if the claimant's and his or her spouse's federal adjusted gross income is more than $100,000 or by a claimant who is married and filing separately if the claimant's federal adjusted gross income is more than $50,000.
71.05(7)
(7) Addition or subtraction of transitional adjustments. Add or subtract, as appropriate, any transitional adjustments computed under
sub. (13).
71.05(8)(a)(a) The carry back of losses to reduce income of prior years shall not be permitted. There shall be added any amount deducted as a federal net operating loss carry-over and there shall be subtracted for the first taxable year for which the subtraction may be made any Wisconsin net operating loss carry-forward allowable under
par. (b) in an amount not in excess of the Wisconsin taxable income computed before the deduction of the Wisconsin net operating loss carry-forward.
71.05(8)(b)
(b) A Wisconsin net operating loss may be carried forward against Wisconsin taxable incomes of the next 15 taxable years, if the taxpayer was subject to taxation under this chapter in the taxable year in which the loss was sustained, to the extent not offset against other income of the year of loss and to the extent not offset against Wisconsin modified taxable income of any year between the loss year and the taxable year for which the loss carry-forward is claimed. In this paragraph, "Wisconsin modified taxable income" means Wisconsin taxable income with the following exceptions: a net operating loss deduction or offset for the loss year or any taxable year thereafter is not allowed, the deduction for long-term capital gains under
sub. (6) (b) 9. is not allowed, the amount deductible for losses from sales or exchanges of capital assets may not exceed the amount includable in income for gains from sales or exchanges of capital assets and "Wisconsin modified taxable income" may not be less than zero.
71.05(9)
(9) Partners or limited liability company members. In determining Wisconsin adjusted gross income or Wisconsin taxable income of a partner or member, any applicable modification described in this section which relates to an item of partnership or limited liability company income, gain, loss or deduction shall be made in accordance with the partner's or member's distributive share, for federal income tax purposes, of the item to which the modification relates. Where a partner's or member's distributive share of any such item is not required to be taken into account separately for federal income tax purposes or the modification relates to no ascertainable item of the partnership or limited liability company income of the current year, each partner's or member's share of such modification shall be proportional to his or her distributive share for federal income tax purposes of partnership or company taxable income or loss generally.
71.05(10)
(10) Other adjustments. Add to or subtract from federal adjusted gross income, as appropriate:
71.05(10)(b)
(b) Except as provided in
sub. (21), the shareholder's proportionate share of the amount by which any item of income, loss or deduction of a tax-option corporation subject to taxation under this chapter differs from federal taxable income, loss or deduction of the corporation for the same year attributed to its shareholders, and any amount necessary to prevent the double inclusion or omission of any item of income, loss, deduction or basis, except that credits against gross tax may not be subtracted under this paragraph.
71.05(10)(c)
(c) The amount required so that the net capital loss, after netting capital gains and capital losses to arrive at total capital gain or loss, is offset against ordinary income only to the extent of $500. Losses in excess of $500 shall be carried forward to the next taxable year and offset against ordinary income up to the limit under this paragraph. Losses shall be used in the order in which they accrue.
71.05(10)(d)
(d) Any item of income, loss or deduction passed through from a corporation that is an S corporation for federal income tax purposes and is, under
s. 71.365 (4), not a tax-option corporation.
71.05(10)(e)
(e) Add or subtract, as appropriate, on sale, exchange, abandonment or other disposition in a transaction in which gain or loss is recognized by the owner of the property acquired from a decedent, the difference between the federal basis and the Wisconsin basis. For this purpose, property acquired from a decedent is as described in section
1014 of the internal revenue code, exclusive of property constituting income under section
102 (b) of the internal revenue code. The Wisconsin basis of property acquired from a decedent is determined under the internal revenue code, except that the value used for property is the value properly includable for Wisconsin death tax purposes rather than the value of property includable for federal estate tax purposes. In this paragraph, property deemed to be includable for Wisconsin death tax purposes includes exempt property under s.
72.15 (5), 1985 stats., but the exclusion under s.
72.12 (6) (b), 1985 stats., is not deemed to be property properly includable. If at least 50% of the marital property held by a decedent and the decedent's surviving spouse is includable for purposes of computing the federal estate tax, all of the decedent's and the decedent's spouse's marital property and all of the decedent's individual property is deemed property properly includable for Wisconsin death tax purposes.
71.05(10)(f)
(f) The amount necessary to reflect the inapplicability of section
66 (a) of the internal revenue code to the computation of income under this chapter.
71.05(10)(g)
(g) The amount necessary to reflect the applicability of
s. 71.10 (6) (b) to
(d) to the computation of income under this chapter.
71.05(10)(h)
(h) The amount necessary to reflect any other differences between the treatment of marital income for federal income tax purposes and the treatment of marital income under this chapter or under rules promulgated under this chapter.
71.05(11)
(11) Waste treatment plant; pollution abatement equipment. 71.05(11)(a)(a) The federal adjusted basis at the end of the calendar year 1968 or corresponding fiscal year of waste treatment plant or pollution abatement equipment acquired pursuant to order or recommendation of the committee on water pollution, state board of health, city council, village board or county board pursuant to s.
59.07 (53) or
(85), 1971 stats., may be treated as a subtraction modification on the return of the calendar year 1969 or corresponding fiscal year but not in later years. In case of such subtraction an add modification shall be made in 1969 and later taxable years to reverse federal depreciation or amortization of such basis or to correct gain or loss on disposition. The cost of such plant or equipment acquired in 1969 or thereafter pursuant to order, recommendation or approval of the committee on water pollution, department of resource development, department of natural resources, state board of health, city council, village board, or county board pursuant to s.
59.07 (53) or
(85), 1971 stats., (less any federal depreciation or amortization taken) may be deducted as a subtraction modification or as subtraction modifications in the year or years in which paid or accrued, dependent on the method of accounting employed. In case of such election, appropriate add modifications shall be made in subsequent years to reverse federal depreciation or amortization or to correct gain or loss on disposition. This paragraph is intended to apply only to depreciable property except that where wastes are disposed of through a lagoon process, lagooning costs and the cost of land containing such lagoons may be treated as depreciable property for purposes of this paragraph. In no event may any amount in excess of cost be deducted. The taxpayer shall file with the department copies of all recommendations, orders or approvals relating to installation of such property and such other documents or data relating thereto as the department requests.
71.05(11)(b)
(b) The cost of the following described property, less any federal depreciation or amortization taken, may be deducted as a subtraction modification or as subtraction modifications in the year or years in which paid or accrued, dependent on the method of accounting employed: All property purchased or constructed as a waste treatment facility utilized for the treatment of industrial wastes as defined in
s. 281.01 (5), or air contaminants as defined in
s. 285.01 (1) but not for other wastes as defined in
s. 281.01 (7) and approved by the department of revenue under
s. 70.11 (21) (a) for the purpose of abating or eliminating pollution of surface waters, the air or waters of the state. In case of such election, appropriate add modifications shall be made in subsequent years to reverse federal depreciation or amortization or to correct gain or loss on disposition. This paragraph is intended to apply only to depreciable property except that where wastes are disposed of through a lagoon process, lagooning costs and the cost of land containing such lagoons may be treated as depreciable property for purposes of this paragraph. In no event may any amount in excess of cost be deducted.
Paragraph (a) applies to all property purchased prior to July 31, 1975, or purchased and constructed in fulfillment of a written construction contract or formal written bid, which contract was entered into or which bid was made prior to July 31, 1975.
