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* Use the amount that will be on line 16, column B, of Form 1NPR, less the amount that will be on line 29, column B, of Form 1NPR
without considering the subtraction for contributions to a Wisconsin state-sponsored college savings program.
** Use the amount that will be on line 31, column A, of Form 1NPR.
Your subtraction is equal to the smaller of the tentative subtraction computed in Step 2 or your total wages, salaries, tips, unearned
income, and net earnings from a trade or business taxable to Wisconsin. (See *in Step 2.)
See the CAUTION under full-year Wisconsin residents.
Enter the amount of your subtraction on line 10 of Schedule CS and on line 44 of Schedule M (Form 1NPR).
Line 11 Enter the amount contributed to the Edvest or Tomorrow’s Scholar college savings account by others for which you are the
account owner for the beneficiary named on line 1 for 2023.
Part II Eligible carryover
Line 16 The amount on line 16 may be carried forward to future years and claimed as a subtraction subject to the yearly limitations.
See Part V.
Part III Withdrawals within 365 days of contribution
Line 17 Adjustments must be made if an amount was deposited in an Edvest or Tomorrow’s Scholar college savings account in 2022
or 2023 and that amount was withdrawn in 2023 within 365 days of the deposit and used for any purpose.
This law applies using a first-in, first-out method of accounting. The first contribution made into the account is considered the first
contribution out of the account in determining whether a contribution was made within 365 days of a withdrawal. Only persons who do
not have a sufficient balance in their account 365 days in advance of a withdrawal may be required to add all or a portion of the amount
of the withdrawal to their Wisconsin income.
If the amount withdrawn within 365 days of the contribution was not used for qualified higher education expenses or was rolled over
into another state’s college tuition program, complete Part IV first. The amount that is attributable to a withdrawal within 365 days of
contribution that is added to income in Part IV does not have to be included when completing line 17a of Part III. You are required to add
the amount to income only once.
Line 17a Enter the amount that was deposited in the account and withdrawn within 365 days for any purpose, regardless of whether
contributed by the account owner or another authorized individual.
Example: The balance in your Edvest college savings account on January 1, 2022, was $2,500 (plus earnings). You contributed $3,100
to the account on September 1, 2022. On August 1, 2023, you withdrew $4,000 (plus earnings) from the account. Using the first-in, first-
out method, $1,500 ($4,000 - $2,500 = $1,500) is required to be added to income since that portion of the withdrawal occurred within 365
days of the deposit.
Example: You are married filing a joint return. You made the following contributions to an Edvest college savings account for your child:
• January 15, 2020 - $3,000
• April 25, 2021 - $3,000
• September 15, 2022 - $18,000
• $3,200 was claimed as a 2022 subtraction from income, no subtraction was claimed in 2023 and $14,800 allowed as a carryover to
future years.
On September 1, 2023, you received a distribution from the Edvest college savings account of $16,000 to pay for tuition for your child to
attend college. According to the Form 1099-Q, the distribution included $1,000 of earnings and $15,000 of principal. Because a portion
of the September 15, 2022, contribution was withdrawn within 365 days, you must complete Part III of Schedule CS. The amount
withdrawn within 365 days of the deposit is $9,000 ($15,000 less $6,000 attributable to deposits in 2020 and 2021). The $9,000 would be
entered on line 17a. The portion of the amount on line 17a that was previously claimed as a subtraction is $3,200. This amount is entered
on line 17b and must be added to your Wisconsin income. Your excess contribution carryover must be reduced by the difference ($9,000
- 3,200 = $5,800). See Part V of Schedule CS to adjust the carryover.
Example: Beginning January of 2009, you contributed $100 each month to an Edvest college savings account for your child. On January
1, 2022, the account included $16,000 of contributions plus earnings. You continued to contribute $100 a month through 2022 and 2023.
In August of 2023 you withdrew $8,000 from the account to pay tuition for your child to attend college. Even though a portion of the
distribution was within 365 days of the date some of the 2022 and all of the 2023 contributions were made to the account, you do not
have to complete Part III. Using the first-in, first-out method, the first contributions to the account (contributions first made in 2009 and
thereafter) are the first amounts withdrawn and those earlier contributions were not within 365 days of the withdrawal.
Line 17b Enter the portion of the amount withdrawn that was previously claimed as a subtraction from income regardless of whether
the subtraction was claimed by the owner of the account or another contributor to the account. This includes amounts taken as a
subtraction in previous years and amounts included in line 10. Do not include amounts contributed to an account for which you are not
the account owner.
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