Wisconsin Partner's Share of Income, Deductions, Credits, etc

Partner's Share of Income, Deductions, Credits, etc
2023 Schedule 3K-1 Partner's Share of Income, Deductions, Credits, etc.
Schedule

3K-1
Wisconsin Department
of Revenue

Partner’s Share of Income, Deductions, Credits, etc.
For calendar year 2023 or tax year beginning	
M

M

D

D

2

0

2

3

Y

Y

Y

Y

2023

and ending
M

M

D

D

2

0

Y

Y

Y

Y

Part I: Information About the Partnership
Partnership's Name

Partnership's Address

Partnership’s FEIN

Partnership's City

State

Partnership’s Zip Code

Part II: Information About the Partner
If the partner is a disregarded entity or trust, enter the requested information for the taxpayer/owner of the disregarded entity or trust:
Partner's Business Name

Partner's FEIN

Partner's Last Name

Partner's First Name

Partner's Address

Partner's City

Partner's SSN

M.l.

State

Partner's Zip Code

If the partner is a disregarded entity or trust, enter the partner's information:
Name

SSN

A	 Type of partner:
1	

General partner or LLC member-manager

2	

Limited partner or other LLC member

B	 Additional partner information (check all that apply):

FEIN

D	 Partner's share of profit, loss, and capital:
Beginning
1	 Profit

.

Ending
%

.

%

.

%

.

%

.

%

Domestic partner

2	

Foreign partner

3	

Nonresident partner

1	Nonrecourse  . . . . . . . . . . . . . . . . . .  	 E-1

4	

Tax-exempt partner

2	 Qualified nonrecourse financing . . . .  	 E-2

5	

Disregarded entity

3	Recourse  . . . . . . . . . . . . . . . . . . . . .  	 E-3

1	

Final 3K-1

2	

Amended 3K-1 (Include Schedule AR)

3	
	

Election to pay tax at the entity level pursuant to 	
s. 71.21(6)(a), Wis. Stats.

4	
	
	

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

%

3	 Capital

1	

C	 Check if applicable:

.

2	Loss

E	 Partner's share of liabilities at the year-end:

F	 Partner's capital account analysis:
1	 Beginning capital account  . . . . . . .  	 F-1
2	 Capital contributed during the year . 	 F-2
3	 Current year increase (decrease) . .  	 F-3
4	 Withdrawals and distributions . . . . .  	 F-4
5	 Ending capital account  . . . . . . . . . .  	 F-5

G	Partner’s state of residence (if a full-year Wisconsin resident, items H, I, J, and K do not apply)  . . . . . . . . . . . . 	 G
H		

Check if partner’s Wisconsin amount is determined by apportionment. Apportionment percentage . . . . . . . 	 H

I			

Check if partner’s Wisconsin amount is determined by separate accounting.

J		

Check if the partner is a nonresident and received an approved Form PW-2 to opt out of pass-through entity withholding.

K		

Check if the nonresident partner elected Wisconsin composite income tax be paid by the partnership on a Form 1CNP.

		

Amount of composite income tax paid on behalf of the nonresident partner . . . . . . . . . . . . . . . . . . . . . . . . . 	 K

IP-032 (R.8-23)

.

%

2023 Schedule 3K-1 Partner's Name

ID Number

Page 2 of 4

Part III	 Partner’s Share of Current Year Income, Deductions, Credits, and Other Items
(a)

(b)

(c)

Distributive share items

Federal amount

Adjustment

(d)
Amount under
Wis. law

	 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	 Guaranteed payments:
		a	 Services  . . . . . . . . . . . . . . . . . . . . 	4a	

4a

		b	 Capital  . . . . . . . . . . . . . . . . . . . . . 	4b	

4b

		 c	 Total (add lines 4a and 4b)  . . . . . . 	4c	

4c

	 5	 Interest income  . . . . . . . . . . . . . . . . . 	 5	5
	 6	 Ordinary dividends  . . . . . . . . . . . . . . 	 6	6
	 7	Royalties . . . . . . . . . . . . . . . . . . . . . 	 7	7
	 8	 Net short-term capital gain (loss)  . . . 	 8	8
	 9	 Net long-term capital gain (loss)  . . . 	 9	9
10a		 Net section 1231 gain (loss)  . . . . 10a	10a
	b	Portion of gains on line 10a from
		 sales of farm assets  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	 10b
11	 	 Other income (loss) (see instr.):
	 a	11a	

11a

	 b	11b	

11b

	 c	 Total (add lines 11a and 11b)  . . . . 11c	11c
12		 Section 179 deduction  . . . . . . . . . 12	12
13		 Other deductions (see instr.):
	 a	13a	
	
	 b	13b	
	
	 c	 Total (add lines 13a and 13b) . . . 13c	

13a	
13b	
13c

14		 Self-employment earning (loss)  . 	 14
		
15	
Wisconsin credits:
	a	

Schedule	

 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	 15a

	 b	Schedule	

 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	 15b

	 c	

Schedule	

 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	 15c

	 d	 Schedule	

 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	 15d

	 e	 Schedule	
	
	 f	 Schedule	
	
	 g	 Schedule	

 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	 15e

	 h	 Schedule	

 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	 15h

	 i	
			

 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	 15f
 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	 15g

Tax paid to other states (enter
postal abbreviation of state)	  . . .  	15i-1	

 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	 15i-1

						

15i-2	

 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	 15i-2

						

15i-3	

 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	 15i-3

	j	

Wisconsin tax withheld  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	 15j

(e)
Wis. source amount
(see instructions)

2023 Schedule 3K-1 Partner's Name

ID Number

(a)

(b)

(c)

Distributive share items

Federal amount

Adjustment

Page 3 of 4
(d)
Amount under
Wis. law

16		

Schedule K-3 is attached if checked (see instructions)  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  16

17	

Alternative minimum tax items:

(e)
Wis. source amount
(see instructions)

	 a	17a
	b	

17b

18a	 Tax-exempt interest income  . . .  	 18a

18a

	 b	 Other tax-exempt income  . . . . .  	 18b

18b

	 c	 Nondeductible expenses (list):
			
	
1	18c-1

18c-1

	

2	18c-2

18c-2

			 3	 Total (add lines 18c-1 and 18c-2)	 18c-3
	
19			 Distributions:

18c-3

	 a		 Cash and marketable securities  . 19a

19a

	 b		 Distributions of other property	  . 19b

19b

20		

Other information:

	 a	 Investment income  . . . . . . . . . . . 20a

20a

	 b	 Investment expenses  . . . . . . . . . 20b

20b

	 c	 Other items and amounts
		 (attach schedule)  . . . . . . . . . . . 20c

20c

21				 Foreign taxes paid or accrued  . . . 21

21

22a		 Related entity expense addback  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  22a
	
	 b		 Related entity expense allowable  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  22b
	
23				 Income (loss)  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  23
24				 Gross income (before deducting
					 expenses) from all activities  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  24

Part IV	 Partner’s Share of Apportionment Factors (Does not apply to a resident estate, trust or individual partner)
Wisconsin
25	

Wisconsin single sales factor method (do not complete lines 26 through 28)  . . . . . . . . . . . . . . . 	 25

	

Multiple factor method (do not complete line 25):

26	

First factor (indicate factor used):	

26

27	

Second factor (indicate factor used):	

27

28	

Third factor (indicate factor used):	

28

Total company

2023 Schedule 3K-1 Partner's Name

ID Number

Page 4 of 4

Part V	 Schedule 3K-1 - Partner’s Share of Additions and Subtractions
Additions:
	 1	 State taxes accrued or paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	1
	 2	 Related entity expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	2
	 3	 Expenses related to nontaxable income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	3
	 4	 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 saving account contribution credit . . . . . . . . . . . . . . 	6f

		g	 Enterprise zone jobs credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	 6g
		h	 Jobs tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	 6h
		i	

Manufacturing and agriculture credit (computed in 2022) . . . . . . . . . . . 	 6i

		j	

Reserved for future use . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	 6j

		k	 Research credits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	 6k
		l	

Total credits (add lines 6a through 6k) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	 6l

	 7	 Other additions:
		a		
7a
		b		
7b
		c		
7c
		d	 Total other additions (add lines 7a through 7c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	 7d
	 8	 Total additions (add lines 1 through 5 and 6l and 7d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	 8
Subtractions:
	 9	 Related entity expenses eligible for subtraction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	 9
	10	 Income from related entities whose expenses were disallowed (obtain Schedule RT-1 from
		 related entity and include with your return) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	10
11		 Section 179, depreciation/amortization of assets (attach schedule) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	11
12	 Amount by which the Wisconsin basis of assets disposed of exceeds the federal basis (attach schedule) . . . . 	12
13	 Federal wage credits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	13
14	 Federal research credit expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	14
15	 Other subtractions:
		a	

15a

		b	

15b

		c	

15c

		d	 Total other subtractions (add lines 15a through 15c)  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	15d
16	 Total subtractions (add lines 9 through 14 and 15d)  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	16
17	 Total adjustment (subtract line 16 from line 8)  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	17