How do the Schedule RT requirements apply to pass-through entities?
A pass-through entity must file Schedule RT if the entity is reporting expenses on its 2008 Wisconsin return which are paid, accrued, or incurred to a related entity and those expenses are of the type described on Schedule RT. The $100,000 threshold is determined at the pass-through entity level. It does not matter if those expenses are deducted against income taxed at the entity level or if they are deducted against income passed through to the entity′s shareholders, partners, members, or beneficiaries. A shareholder, partner, member, or beneficiary of a pass-through entity is not required to file Schedule RT to disclose expenses that the pass-through entity has already disclosed on Schedule RT.
Related Questions
- My agency has a project over $1M, but we have not yet defined requirements or started project planning. What level of detail is necessary for the Schedule IV-B?
- How do state and local government entities place orders against Schedule contracts? Do such orders against Schedule contracts meet competition requirements?
- How do the Schedule RT requirements affect transactions involving disregarded entities?
