Other adjustments.

Except as provided in sub. (21), the shareholder’s proportionate share of the amount by which any item of income, loss or deduction of a tax-option corporation subject to taxation under this chapter differs from federal taxable income, loss or deduction of the corporation for the same year attributed to its shareholders, and any amount necessary to prevent the double inclusion or omission of any item of income, loss, deduction or basis, except that credits against gross tax may not be subtracted under this paragraph.

1. For taxable years beginning before January 1, 2023, the amount required so that the net capital loss, after netting capital gains and capital losses to arrive at total capital gain or loss, is offset against ordinary income only to the extent of $500 and, except as provided in subd. 3., losses in excess of $500 shall be carried forward to the next taxable year and offset against ordinary income up to the limit under this subdivision. Losses shall be used in the order in which they accrue. 2. For taxable years beginning after December 31, 2022, the amount required so that the net capital loss, after netting capital gains and capital losses to arrive at total capital gain or loss, is offset against ordinary income only to the extent of $3,000. Any excess net capital loss shall be carried forward to the next taxable year, subject to subd. 3. If the taxpayer is a married person who files separately, the $3,000 limitation in this subdivision shall be $1,500. 3. A net capital loss that is carried forward to a taxable year beginning after December 31, 2022, shall be offset against ordinary income, limited to $3,000, in that taxable year. Losses shall be used in the order in which they accrue. If the taxpayer is a married person who files separately, the $3,000 limitation in this subdivision shall be $1,500.

Any item of income, loss, or deduction passed through from an entity that has made an election under s. 71.21 (6) (a) or 71.365 (4m) (a) to be taxed at the entity level.

Add or subtract, as appropriate, on sale, exchange, abandonment or other disposition in a transaction in which gain or loss is recognized by the owner of the property acquired from a decedent, the difference between the federal basis and the Wisconsin basis. For this purpose, property acquired from a decedent is as described in section 1014 of the internal revenue code, exclusive of property constituting income under section 102 (b) of the internal revenue code. The Wisconsin basis of property acquired from a decedent is determined under the internal revenue code, except that the value used for property is the value properly includable for Wisconsin death tax purposes rather than the value of property includable for federal estate tax purposes. In this paragraph, property deemed to be includable for Wisconsin death tax purposes includes exempt property under s. 72.15 (5), 1985 stats., but the exclusion under s. 72.12 (6) (b), 1985 stats., is not deemed to be property properly includable. If at least 50 percent of the marital property held by a decedent and the decedent’s surviving spouse is includable for purposes of computing the federal estate tax, all of the decedent’s and the decedent’s spouse’s marital property and all of the decedent’s individual property is deemed property properly includable for Wisconsin death tax purposes.

The amount necessary to reflect the inapplicability of section 66 (a) of the internal revenue code to the computation of income under this chapter.

The amount necessary to reflect the applicability of s. 71.10 (6) (b) to (d) to the computation of income under this chapter.

The amount necessary to reflect any other differences between the treatment of marital income for federal income tax purposes and the treatment of marital income under this chapter or under rules promulgated under this chapter.

1. Subject to the conditions in this paragraph, an individual may subtract up to $10,000 from federal adjusted gross income if he or she, or his or her dependent, as defined under section 152 of the Internal Revenue Code, while living, donates one or more of his or her human organs to another human being for human organ transplantation, as defined in s. 146.345 (1), except that in this paragraph, “human organ” means all or part of a liver, pancreas, kidney, intestine, lung, or bone marrow. A subtract modification that is claimed under this paragraph may be claimed in the taxable year in which the human organ transplantation occurs. 2. An individual may claim the subtract modification under subd. 1. only once, and the subtract modification may be claimed for only the following unreimbursed expenses that are incurred by the claimant and related to the claimant’s organ donation: a. Travel expenses. b. Lodging expenses. c. Lost wages. 3. The subtract modification under subd. 1. may not be claimed by a part-year resident or a nonresident of this state.