Wisconsin DOR Issues Publication on Reporting 2025 Capital Gains, Losses for Individuals, Estates, Trusts (Correction)

The Wisconsin Department of Revenue (DOR) issued a publication for reporting capital gains and losses in preparing 2025 income tax returns for individuals, estates, and trusts. The publication explains the differences between Wisconsin and federal law in reporting capital gains and losses on Wisconsin and federal income tax returns. The publication notes that provisions in section 70432 of Public Law 119-21 (One Big Beautiful Bill Act) apply for Wisconsin. The provisions include increasing the percentage of gains on qualifying small business stock that can be excluded from income, increasing the maximum gain per issuer that can be excluded from income, ...