Wisconsin Wisconsin Fiduciary Income Tax for Estates or Trusts

Wisconsin Fiduciary Income Tax for Estates or Trusts
2023 I-020 Form 2 Wisconsin fiduciary income tax for estates or trusts (fillable)
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Wisconsin
fiduciary income tax
for estates or trusts

Clear

2023

For calendar year 2023 or tax year beginning

M

M

D

D

2 0 2 3
Y

Y

Y

and ending

Y

ESTATES ONLY – Decedent’s legal last name

Decedent’s legal first name

ESTATES ONLY – Decedent’s social security number

Estate’s federal EIN

M

M

D

D

2 0
Y

Y

Y

Y

M.I.

TRUSTS ONLY – Legal name

Trust’s federal EIN

Name of personal representative, petitioner, or trustee

County of jurisdiction (Name Only)

Address of personal representative, petitioner, or trustee
City

State

Schedules 2K-1 issued

Zip code

Schedules 2K-1 issued to nonresidents

Probate case number

Check all that apply
Electing small business trust

Check if applicable	

Initial return	

Final return	

Amended return	

Name change

Qualified subchapter S trust
Qualified funeral trust

Date trust or bankruptcy estate was created or date of decedent’s death
M	M

If this is a trust return, is the trust

Revocable	

or

D	D

Y	Y	Y	Y

Irrevocable?

If a trust, is the grantor a resident of Wisconsin? . . . . . . . . . . . . . . . . . . . .

Yes

No

Has Form W706 been filed? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

No

Does the estate or trust own any disregarded entities? (If yes, include
Schedule DE) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

No

A lower-tier entity made an election to pay tax at the entity level pursuant
to s. 71.21(6)(a) or 71.365(4m)(a), Wis. Stats., (see instructions)  . . . . . . . .

Yes

No

Nonresident:
	

trust

Part-year resident:
		

estate 	

trust

Bankruptcy estate
Inter vivos trust
Testamentary trust

Special Conditions
Address where decedent lived at time of death

estate 	

Section 645 election

Zip code

Decedent’s estate

Paperclip check or money order here

Print numbers like this 

Not like this 

NO COMMAS; NO CENTS

	 1	

Federal taxable income of fiduciary (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	1

.00

	 2	

Additions (from Schedule A or NR) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	2

.00

	 3	

Add lines 1 and 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	3

.00

	 4	

Subtractions (from Schedule A or NR) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	4

.00

	 5	

Wisconsin taxable income of fiduciary (subtract line 4 from line 3) . . . . . . . . . . . . . . . . . . . . . 	5

.00

	 6a	 Tax on income from line 5 (see tax table in the instructions) . . . . 	 6a

.00

	 6b	 ESBT tax (enter amount from line 23 of Schedule ESBT) . . . . . . 	 6b

.00

	 6c	 Gross tax (add lines 6a and 6b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	 6c

.00

	 7	

Nonrefundable credits Schedule CR, line 34 . . . . . . . . . . . . . . . .  	 7

.00

	 8	

Net tax paid to another state. Include Schedule OS . .  	

8

.00

	 9	

Add credits on lines 7 and 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	9

.00

	10	

Subtract line 9 from line 6c. If line 9 is larger than line 6c, enter zero (0) . . . . . . . . . . . . . . 	 10

.00

I-020 (R. 12-23)

Page 2

2023 Form 2	

of 4

NO COMMAS; NO CENTS

	11a	 Enter amount from line 10  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11a

.00

11b	 Sales and use tax due on Internet, mail order, or other out-of-state purchases. If you
		 certify that no sales or use tax is due, check here  . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	

11b

.00

11c	 Penalty on underpayment of tax from inconsistent estate basis reporting  . . . . . . . . . . . . . . .  	 11c

.00

11d	 Add lines 11a, 11b and 11c  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	 11d

.00

	12	 Wisconsin income tax withheld (see instructions) . . . . . . . . . . . . 	 12

.00

	13	 2023 estimated payments and amount applied from 2022 return .	 13

.00

	14	 Farmland preservation credit.	a	 Schedule FC, line 17 . . . . . . . . . 	 14a

.00

			

.00

b	 Schedule FC‑A, line 13 . . . . . . . 	 14b

	15	 Refundable credits from Schedule CR, line 40 . . . . . . . . . . . . . . 	 15

.00

	16	 AMENDED RETURN ONLY – amount paid with the original return 	 16

.00

	17	 Add lines 12 through 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	 17

.00

	18	 AMENDED RETURN ONLY – refund from original return less
		 amount applied to 2024 estimated tax . . . . . . . . . . . . . . . . . . . . . 	 18

.00

	19	 Subtract line 18 from line 17  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	19

.00

	20	 If line 19 is greater than line 11d, subtract line 11d from line 19 AMOUNT OVERPAID . . . . . . . 	20

.00

	21	 Amount of line 20 to be REFUNDED TO YOU . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	21

.00

.00

	22	 Amount of line 20 to be applied to your 2024 ESTIMATED TAX . . 	 22

	23	 If line 19 is less than line 11d, subtract line 19 from line 11d AMOUNT UNDERPAID  . . . . . . . . 	23

.00

	24	 Underpayment interest. Fill in exception code – See Schedule U	

 . . . . . . . . . . . . . . . 	24

.00

25		 Add lines 23 and 24. This is the AMOUNT DUE  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	25

.00

Third Do you want to allow another person to discuss this return with the department (see page 8)?	
Party
Phone
Designee’s
Designee name
no.	 (	)

Yes	 Complete the following.	

No

Personal
identification
number (PIN)

Paper clip copies of federal Form 1041 and schedules to this return.
Also paper clip copies of Wisconsin Schedules 2K-1, 3K-1, 5K-1, 2M, 2WD, NR, ESBT, and other documents,
if required. A request for a closing certificate for fiduciaries must be made separately
on Schedule CC. See instructions.
I, as fiduciary, declare under penalties of law that I have examined this return (including accompanying schedules, statements,
and copy of federal income tax return) and to the best of my knowledge and belief it is true, correct, and complete.
	 Your signature		

Date	

Daytime phone

(	)

PERSON PREPARING RETURN (individual and firm) if other than the preceding signer
	 Name	

Signature of preparer	

Date	

Daytime phone

(	)

Page 3

2023 Form 2	

Pass-Through Entity Representative
Representative’s Name (see instructions)

Contact’s Name (see instructions)

Email address

Phone number

Mailing address

Apt. no.

(	)

City

Mail your return to:	
Wisconsin Department of Revenue
	 If tax due......................................PO Box 8918, Madison WI 53708-8918
	 If refund or no tax due.................PO Box 8965, Madison WI 53708-8965

State

Zip code

of 4

Page 4

2023 Form 2	
Name(s) shown on Form 2	

SCHEDULE A –	Additions and Subtractions

of 4

Decedent’s social security number	 Estate’s / Trust’s FEIN

estates and trusts only. Part-year and nonresident
{ Resident
}
estates and trusts must include Schedule NR.
COL. 1-Distributable Income
(Report on Schedule 2K-1)

ADDITIONS:

COL. 2
Nondistributable Income

	 1	 Adjustment from Schedule B of Form 2 . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . 1

.00

	 2	 Interest (less related expenses) on state and municipal obligations . . 2

.00

.00

	 3	 Deduction for taxes from federal Form 1041 . . . . . . . . . . . . . . . . . . . 3

.00

.00
.00

	 4	 Capital gain/loss adjustment (see instructions) . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . 4
	 5	 Other additions:
		 COL. 1 – enter total and describe below . . . . . . . . . . . . . . . . . . . . .  5a

.00

		 COL. 2 – enter amount from Part I, line 22, of Schedule 2M . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . 5b

.00

	 6	 Add lines 1 through 5 and enter on line 2 of Form 2 . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . 6

.00

SUBTRACTIONS:
	 7	 Adjustment from Schedule B of Form 2 . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . 7

.00
.00

.00

	 8	 Interest (less related expenses) on obligations of the United States .  8

.00

	 9	 Capital gain/loss adjustment (see instructions) . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . 9
	 10	 Refunds of state and local taxes (see instructions) . . . . . . . . . . . . .  10

.00

	 11	 Other subtractions:
		 COL. 1 – enter total and describe below . . . . . . . . . . . . . . . . . . . . .  11a

.00

.00

		 COL. 2 – enter amount from Part II, line 36, of Schedule 2M . . . . . . . .. . . . . . . . . . . . . . . . . . . . . 11b

.00

	 12	 Add lines 7 through 11 and enter on line 4 of Form 2 . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . 12

.00

SCHEDULE B –	 Adjustments to Convert 2023 Federal Taxable Income to the
Amount Allowable for Wisconsin (see instructions on page 13)
Adjustments for 2023

NATURE OF ADJUSTMENT – Include a schedule to fully explain.

COL. 1 – Distributable
(Enter on Schedule 2K‑1)

1	 TOTAL from included schedule  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

COL. 2 – Nondistributable
(Enter on Schedule A*)

.00

	 *	If a positive number, enter on line 1.
		 If a negative number, enter on line 7 as a positive number.

.00

Note:	 The figures in COL. 1 and 2 must be used by part-year and nonresident estates and trusts to complete Part I of Schedule NR.

SCHEDULE C –	 Adjustments to Capital Gains/Losses Because Capital Assets Disposed of
Had Different Basis for Wisconsin and Federal Income Tax Purposes
1	
	

Description of capital assets held ONE YEAR OR LESS
and reason for difference in basis

A. Federal
Adjusted Basis

B. Wisconsin
Adjusted Basis

C.  Difference

a

1a

.00

.00

.00

b

1b

.00

.00

.00

2	 TOTAL – Combine amounts in column C. Fill in here and on line 6 of Wisconsin Schedule 2WD . . . . . . . . 2

.00

3	
	

Description of capital assets held MORE THAN ONE YEAR
and reason for difference in basis

A. Federal
Adjusted Basis

B. Wisconsin
Adjusted Basis

C.  Difference

a

3a

.00

.00

.00

b

3b

.00

.00

.00

4	 TOTAL – Combine amounts in column C. Fill in here and on line 15 of Wisconsin Schedule 2WD . . . . . . . . 4

.00

I-020ai