Instructions for Schedule 4Y Wisconsin Subtraction Modification for Dividends - Wisconsin

This document contains official instructions for Schedule 4Y , Wisconsin Subtraction Modification for Dividends - a form released and collected by the Wisconsin Department of Revenue.

FAQ

Q: What is Schedule 4Y?
A: Schedule 4Y is a form for reporting Wisconsin Subtraction Modification for Dividends.

Q: What is the purpose of Schedule 4Y?
A: The purpose of Schedule 4Y is to calculate and report any subtraction modifications related to dividends.

Q: Who needs to file Schedule 4Y?
A: Anyone who received dividends and qualifies for a subtraction modification in Wisconsin needs to file Schedule 4Y.

Q: What types of dividends are eligible for subtraction modification?
A: Certain types of dividends from qualified corporations or domestic business entities are eligible for subtraction modification.

Q: Are there any specific instructions for filling out Schedule 4Y?
A: Yes, there are specific instructions provided on the form and in the Wisconsin Department of Revenue's instructions booklet.

Q: When is the deadline to file Schedule 4Y?
A: The deadline to file Schedule 4Y is the same as the deadline to file your Wisconsin income tax return, generally April 15th.

Q: Can I e-file Schedule 4Y?
A: Yes, you can e-file Schedule 4Y along with your Wisconsin income tax return if you choose to file electronically.

Q: What happens if I don't file Schedule 4Y?
A: If you qualify for a subtraction modification but fail to file Schedule 4Y, you may miss out on potential tax savings.

Q: Can I claim a subtraction modification for dividends from all types of corporations?
A: No, only certain types of corporations or entities qualify for the subtraction modification. Check the Wisconsin Department of Revenue's guidelines for more information.