The Wisconsin Form 5S instructions request that the taxpayer record the PPP loan amount assumed to be forgiven on line 10, Other additions on Form 5S, Schedule 5K, Part III.

The taxpayer would enter this amount on page 6 of the Form 5S, Part III, line 10 in the software.  The adjustments from Part III will flow to page 3, line 1, in Column C, of Form 5S, Schedule 5K, Part II successfully posting a Wisconsin only adjustment to the taxable income.

As a result, the adjustment will successfully be recorded on the respective K-1's for the impacted members.