| Wisconsin Income Tax Questions
Federal net operating losses are:
subtracted from federal AGI to arrive at Wisconsin income
added to federal AGI to arrive at Wisconsin income
ignored
50% is
For 2007 federal income tax purpose, an eligible eductor may deduct up to $250 of qualified expenses paid for books, supplies, expenses and other materials used in the classroom. How does Wisconsin treat this deduction?
Wisconsin law regarding educator expenses is the same as the federal law so no adjustment is required
The educator expense deduction must be added to the federal AGI
The educator expense deduction must be deducted from the federal AGI
50% of the educator expense deduction must be added to the federal AGI
To determine Wisconsin taxable income:
Use the same taxable income as on the federal return
Add the Wisconsin standard deduction and Wisconsin exemption amount to the federal AGI
Subtract the Wisconsin standard deduction and Wisconsin exemption amount from the federal AGI
Subtract the Wisconsin standard deduction and Wisconsin exemption amount from the Wisconsin income
Refunds of state and local income tax may be taxable for federal purposes. How is a state income tax refund, which was taxable for federal income, treated on the Wisconsin return?
It is added to federal income
50% is added to federal income
It is subtracted from federal income
No action is required
The taxable portion of W-2 wages:
Is the same for federal and Wisconsin purposes
May be different for federal and Wisconsin purposes
W-2 wages are never taxable in Wisconsin
Is subtracted on Line 10 of Wisconsin Form 1
The Wisconsin lottery and gaming credit provides tax relief to qualifying taxpayers in the form of:
Wisconsin income tax relief in the form of a reduction of reduction of the required state income tax withholding
A voucher for taxpayers sending their children to private schools
Property tax relief in the form of a credit on property tax bills
Sales tax reilef in the form of a reduction of the state sales tax
Who qualifies for the Wisconsin lottery and gaming credit?
Owners of automobiles registered in Wisconsin
Owners homes in Wisconsin who uses the home as the primary residence
Owners of marsh or wet lands in Wisconsin
Owners of forest reserves in Wisconsin
Do mobile homes that pay a monthly parking fee qualify for the Wisconsin lottery and gaming credit?
No
Yes, if you live in the mobile home for at least 4 months a year
Yes, if it is the primary residence of the taxpayer
It depends on the school district in which the mobile home is located
Can you get an extension to file your Wisconsin income taxes? If yes, how long is the extension?
No extension is available
You may file for a 3 month extension
You may file for a 6 month extension
You may file for a 9 month extension
If you are a part year resident or nonresident of Wisconsin, are you required to file a Wisconsin income tax return?
No, you do not have to file
You need to file if your Wisconsin gross income is $500 or more
You need to file if your Wisconsin income is $1000 or more
You need to file if your Wisconsin income is $2000 or more
Are Wisconsin lottery winnings taxable for a Wisconsin resident?
Lottery winnings are taxable for both federal and Wisconsin
Lottery winnings are taxable for federal taxes only
Lottery winnings are taxable for Wisconsin taxes only
Lottery winnings are not taxable
Are Wisconsin lottery winnings taxable for a nonresident?
Lottery winnings are taxable for both federal and Wisconsin
Lottery winnings are taxable for federal taxes only
Lottery winnings are taxable for Wisconsin taxes only
Lottery winnings are not taxable
If the total of certain itemized deductions exceeds your Wisconsin standard deduction, you:
Use which ever one is higher
Use which ever one is lower
Use 66% of the itemized deductions
use 66% of the Wisconsin standard deduction
Which of the follwing is a federal itemized deductions, and can be used for the Wisconsin itemized deduction credit?
Interest paid on a second residence which is located outside of Wisconsin
Interest paid on a boat which is your residence
Premiums paid on long term care insurance
Gifts to charity
If you can help with any of these questions I would appreciate it. I have a copy of the Wisconsin Form 1 instructions. I can't find the answers to these. If you could at least give me page numbers so that I can find them myself I would appreciate it.
Thank you
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