×
tax forms found in
Tax Form Code
Tax Form Name

Wisconsin Free Printable 2019 IC-056 Schedule 5K-1 Tax-Option (S) Corporation Shareholder's Share of Income, Deductions, Credits, etc. (fillable) for 2021 Wisconsin Tax-Option (S) Corporation Shareholder's Share of Income, Deductions, Credits, etc.

Tax season is open, and returns are due on April 16th! Save by eFiling early with TurboTax start now

It appears you don't have a PDF plugin for this browser. Please use the link below to download 2019-wisconsin-schedule-5k-1.pdf, and you can print it directly from your computer.

Tax-Option (S) Corporation Shareholder's Share of Income, Deductions, Credits, etc.
2019 IC-056 Schedule 5K-1 Tax-Option (S) Corporation Shareholder's Share of Income, Deductions, Credits, etc. (fillable)

Tab to navigate within form. Use mouse to check applicable boxes, press spacebar or press Enter. Print Tax-Option (S) Corporation Shareholder’s Share of Income, Deductions, Credits, etc. Schedule 5K-1 Wisconsin Department of Revenue Save For 2019 or taxable year beginning M M D D Y Y Y Y and ending M M D D Clear 2019 Y Y Y Y Part I: Information About the Corporation Corporation’s Name Corporation's Address Corporation’s FEIN Corporation's City State Corporation’s Zip Code Part II: Information About the Shareholder Business Name FEIN Individual's Last Name First Name Shareholder’s Address Shareholder's City Individual's SSN M.l. Shareholder’s Zip Code State If the shareholder is a disregarded entity, estate, or trust, enter the name and identifying number of the taxpayer to whom this income will be reported: FEIN Trust Name First Name Last Name M.I. SSN A Type of shareholder: 1 Individual 2 Estate 3 Trust 4 Exempt organization 5 Other B Check if applicable: 1 Final 5K-1 2 Amended 5K-1 (Include Schedule AR) 3 Election to pay tax at the entity level pursuant to s. 71.365(4m)(a), Wis. Stats. 4 A lower-tier entity made an election pursuant to s.71.21(6)(a), Wis. Stats. C Shareholder’s percentage of stock ownership for taxable year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . C . % D Shareholder’s state of residence (if a full-year Wisconsin resident, items E, F, and G do not apply) . . . . . . . . . . . D E Check if shareholder’s Wisconsin amount is determined by apportionment. Apportionment percentage . . . . E F Check if shareholder’s Wisconsin amount is determined by separate accounting. G Check if the shareholder is a nonresident and received an approved Form PW-2 to opt out of pass-through entity withholding, or received a continuous PW-2 exemption. . Go to Page 2 IC-056 (R. 2-20) % 2019 Schedule 5K-1 Shareholder's Name ID Number Page 2 of 4 Part III Shareholder’s Share of Current Year Income, Deductions, Credits, and Other Items (a) (b) (c) Pro rata share items Federal amount Adjustment 1 Ordinary business income (loss) . . 1 1 2 Net rental real estate income (loss) . . 2 2 3 Other net rental income (loss) . . . . 3 3 4 Interest Income . . . . . . . . . . . . . . . . 4 4 5 Ordinary dividends . . . . . . . . . . . . . 5 5 6 Royalties . . . . . . . . . . . . . . . . . . . . 6 6 7 Net short-term capital gain (loss) . . 7 7 8 Net long-term capital gain (loss) . . 8 8 9a Net section 1231 gain (loss) . . . . . 9a 9a 9b Portion of the amount on line 9a attributable to gains on sales of farm assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9b 10 NO COMMAS; NO CENTS (d) Amount under Wis. law (e) Wis. source amount (see instructions) Other income (loss) (list) a 10a 10a b 10b c Total (add lines 10a and 10b) . . . 10c 10b 11 Section 179 deduction . . . . . . . . . 11 11 12 Other deductions: 10c a Contributions . . . . . . . . . . . . . . . . 12a 12a b Investment interest expense . . . . 12b 12b c Section 59(e)(2) expenditures . . . 12c 12c d Other deductions (attach schedule) . . . . . . . . . . . . . 12d 12d 13a Schedule ........................................................... b Schedule ........................................................... c Schedule ........................................................... d Schedule ........................................................... e Schedule ........................................................... ........................................................... f Schedule g Schedule ........................................................... ........................................................... h Schedule i Tax paid to other states (enter postal abbreviation) . . . . . . 13i-1 .................................. 13a 13b 13c 13d 13e 13f 13g 13h 13i-1 13i-2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13i-2 13i-3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13i-3 j Wisconsin tax withheld . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13j Go to Page 3 2019 Schedule 5K-1 Shareholder’s Name ID Number (a) (b) (c) Pro rata share items Federal amount Adjustment Page 3 of 4 (d) Amount under Wis. law (e) Wis. source amount (see instructions) 14 Foreign transactions (list): a b 14a 14a 14b 14b 15 Alternative minimum tax (AMT) items (list): a 15a b 15b 16a Tax-exempt interest income . . 16a 16a b Other tax-exempt income . . . . 16b c Nondeductible expenses . . . . 16c d Property distributions . . . . . . . 16d 16b e Repayment of loans from shareholders . . . . . . . . . . . . . . 16e 17a Investment income . . . . . . . . . 17a 16c 16d 16e 17a b Investment expenses . . . . . . . 17b 17b c Dividend distributions paid from accumulated earnings and profits . . . . . . . . . . . . . . . . 17c 17c d Other items and amounts (list): 1 17d-1 17d-1 2 17d-2 17d-2 17d-2) . . . . . . . . . . . . . . . . 17d-3 17d-3 3 Total (add lines 17d-1 and 18a Related entity expense addback . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18a b Related entity expense allowable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18b 19 Income (loss) reconciliation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 20 Gross income (before deducting expenses) from all activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Go to Page 4 2019 Schedule 5K-1 Shareholder’s Name ID Number Part IV Schedule 5K-1 - Shareholder’s Share of Additions and Subtractions Page 4 of 4 NO COMMAS; NO CENTS Additions: 1 State taxes accrued or paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 Related entity expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Expenses related to nontaxable income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Basis, section 179, depreciation, amortization difference (attach schedule) . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Amount by which the federal basis of assets disposed of exceeds the Wisconsin basis (attach schedule). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 6 Total additions for certain credits computed: a Business development credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6a b Community rehabilitation program credit . . . . . . . . . . . . . . . . . . . . . 6b c Development zones credits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6c d Economic development tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . 6d e Electronics and information technology manufacturing zone credit 6e f Employee college savings account contribution credit. . . . . . . . . . . 6f g Enterprise zone jobs credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6g h Jobs tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6h i Manufacturing and agriculture credit (computed in 2018) . . . . . . . . 6i j Manufacturing investment credit . . . . . . . . . . . . . . . . . . . . . . . . . . . 6j k Research credits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6k l Technology zone credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6l m Total credits (add lines 6a through 6l) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6m 7 IRC Provisions not adopted for Wisconsin purposes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 8 Adjustment for built-in gains tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 9 Additions for federal capital gains and excess net passive income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 10 Other additions: a 10a b 10b c 10c d Total other additions (add lines 10a through 10c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10d 11 Total additions (add lines 1 through 5, 6m through 9, and 10d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Subtractions: 12 Related entity expenses eligible for subtraction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 13 Income from related entities whose expenses were disallowed (obtain Schedule RT-1 from related entity and submit with your return) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 14 Basis, section 179, depreciation/amortization of assets (attach schedule) . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 15 Amount by which the Wisconsin basis of assets disposed of exceeds the federal basis (attach schedule). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 16 IRC provisions not adopted for Wisconsin purposes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 17 Adjustment for built-in gains tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 18 Federal wage credits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 19 Federal research credit expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 20 Other subtractions: a 20a b 20b c 20c d Total other subtractions (add lines 20a through 20c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20d 21 Total subtractions (add lines 12 through 19 and 20d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 22 Total adjustment. (subtract line 21 from line 11). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 Return to Page 1
Extracted from PDF file 2019-wisconsin-schedule-5k-1.pdf, last modified September 2015

More about the Wisconsin Schedule 5K-1 Corporate Income Tax Tax Credit

We last updated the Tax-Option (S) Corporation Shareholder's Share of Income, Deductions, Credits, etc. in March 2020, and the latest form we have available is for tax year 2019. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the Wisconsin Department of Revenue. You can print other Wisconsin tax forms here.


eFile your Wisconsin tax return now

eFiling is easier, faster, and safer than filling out paper tax forms. File your Wisconsin and Federal tax returns online with TurboTax in minutes. FREE for simple returns, with discounts available for TaxFormFinder users!

File Now with TurboTax

Other Wisconsin Corporate Income Tax Forms:

TaxFormFinder has an additional 88 Wisconsin income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Schedule CC Request for a Closing Certificate for Fiduciaries
Form 2 Wisconsin Fiduciary Income Tax for Estates or Trusts
Form 3 Form 3 Partnership Return
Schedule WD (Form 2) Capital Gains and Losses
Form 4 Wisconsin Non-Combined Corporation Franchise or Income Tax Return

Download all WI tax forms View all 89 Wisconsin Income Tax Forms


Form Sources:

Wisconsin usually releases forms for the current tax year between January and April. We last updated Wisconsin Schedule 5K-1 from the Department of Revenue in March 2020.

Show Sources >

Schedule 5K-1 is a Wisconsin Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Wisconsin Schedule 5K-1

We have a total of eight past-year versions of Schedule 5K-1 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 Schedule 5K-1

2019 IC-056 Schedule 5K-1 Tax-Option (S) Corporation Shareholder's Share of Income, Deductions, Credits, etc. (fillable)

2018 Schedule 5K-1

2018 Schedule 5K-1 Tax-Option (S) Corporation Shareholder's Share of Income, Deductions, Credits, etc.

2017 Schedule 5K-1

2017 Schedule 5K-1 Tax-Option (S) Corporation Shareholder's Share of Income, Deductions, Credits, etc.

2016 Schedule 5K-1

2016 Schedule 5K-1 Tax-Option (S) Corporation Shareholder's Share of Income, Deductions, Credits, etc.

Tax-Option (S) Corporation Shareholder's Share of Income, Deductions, Credits, etc. 2015 Schedule 5K-1

2015 IC-056 Schedule 5K-1 Tax-Option (S) Corporation Shareholder's Share of Income, Deductions, Credits, etc. (fillable)

Tax-Option (S) Corporation Shareholder’s Share of Income, Deductions, Credits, etc. | Instructions 2013 Schedule 5K-1

2013 IC-056 Schedule 5K-1 Tax-Option (S) Corporation Shareholder's Share of Income, Deductions, Credits, etc.

2012 Schedule 5K-1

2012 IC-056 Schedule 5K-1 Tax-Option (S) Corporation Shareholder's Share of Income, Deductions, Credits, etc.

2011 IC-056 Schedule 5K-1 2011 Schedule 5K-1

2011 IC-056 Schedule 5K-1 Tax-Option (S) Corporation Shareholder's Share of Income, Deductions, Credits, etc.


TaxFormFinder Disclaimer:

While we do our best to keep our list of Wisconsin Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.

** This Document Provided By TaxFormFinder.org **
Source: http://www.taxformfinder.org/wisconsin/schedule-5k-1