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Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.
Use the state tabs in the Shareholder Information window to enter state-specific information for shareholders. State tabs appear only if you have added states to the return.
To update a shareholder's state-specific information, click that shareholder in the Shareholder Information window, and then click the appropriate state tab.
Fields & buttons
Wisconsin information group box
If the shareholder is a nonresident, enter a code from the following table or select the code from the drop-down list to indicate the type of nonresident filing to be made by the shareholder. If the shareholder is a nonresident, UltraTax CS defaults to calculating withholding Form PW-1 for the shareholder.
Code |
Description |
1 |
Withholding (default)
This is the default filing for a nonresident shareholder when you do not select a code from the drop-down list. Select this option to indicate the shareholder is subject to withholding on Form PW-1. |
2 |
Composite and withholding
Select this option to indicate the shareholder is filing both as a composite and withholding filer. UltraTax CS completes both Form 1CNS and Form PW-1 for this shareholder. |
3 |
Exempt from withholding
Select this option to indicate the shareholder is exempt from withholding. If the shareholder is exempt from withholding, they cannot file a composite return. UltraTax CS marks the Yes checkbox for Affidavit Filed on Form PW-1 for the shareholder. |
The shareholder's resident state is displayed in this field.
Enter the state postal code in which the shareholder was a part-year resident. Use this field if you are processing multiple-state returns for this client. If applicable, the state uses this information to determine part-year residency status.
Enter the dates for which the shareholder was a part-year resident. Use this field if you are processing multiple state returns for this client. If applicable, the state uses this information to determine part-year residency status.
UltraTax CS provides this statement dialog for supplemental information specific to each shareholder. Use this statement dialog for items that are not pro-rata. If you have pro-rata items that need to be reported to each shareholder, use Section A in Screen WIKSep. UltraTax CS prints the information you enter in this statement dialog in the Schedule 5K-1 statements for line 17d.
Composite return group box
Shareholder basis group box
Withholding information group box
Mark this checkbox to have withholding tax completed if the nonresident shareholder's share of Wisconsin taxable income is less than $1,000.
Enter the amount of tax previously withheld for the nonresident shareholder.
UltraTax CS includes the withholding tax due on taxable income to a nonresident shareholder based on shareholder ownership percentage. Enter an amount in this field to force the shareholder's taxable income to a different amount.