What is this?
If you were a partner or member of a partnership or LLC treated as a partnership that elected to be taxed at the entity level, reverse all items of income, gain, loss, or deduction included on your federal
return for which the partnership is including on their corporate income tax return. If the partnership has made this election, the box will be checked on Schedule 3K-1, Part C, box 3.
Where do I enter it?
If the adjustment is an addition to income for Wisconsin, enter it in the Additions to Income Section. If it is a subtraction, enter it in the Subtractions from Income Section. Use Code 58 for either entry in prior years not applicable for tax year 2020. If you have adjustments for more than on entity, enter each entity adjustment separately.
What else do I need to do?
You are required to attach a copy of the 2K-1 or 3K-1 to your return. To attach a copy of your K-1 to your return, visit the Credits section of your state return. You can also download it on the state website.
For further information, please see the WI state instructions.