Schedule F Draft - Attach To Form Il-1065 - Gains From Sales Or Exchanges Of Property Acquired Before August 1, 1969 - 2010 Page 2

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*032602110*
Installment Sales
If, on your U.S. Form 1065, Schedule D, or U.S. Form 4797, you reported gain from an installment sale of property acquired before
August 1, 1969, complete Schedule F for those sales by following the instructions below.
If, for federal tax purposes, you fi led U.S. Form 6252 but were not required to fi le U.S. Form 4797, attach to your Schedule F: (1) a
statement that you were not required to fi le U.S. Form 4797 and (2) a copy of the U.S. Form 6252 as fi led.
Installment sales before August 1, 1969
Installment sales on or after August 1, 1969
Complete Schedule F
Complete Schedule F
Columns A through I —
Columns A through C —
Follow Schedule F Instructions.
Follow Schedule F Instructions.
Column J —
Column D —
Complete the worksheet below and write in this
Write “INST” to indicate installment.
column the amount from Column 5 of the worksheet below.
Columns E through J —
Leave blank.
The heading for Column J does not describe this entry.
Column K —
Write the amount of Section 1245 or 1250 gain from
Column K through M —
this sale reported this year on your U.S. Form 4797 or 6252.
Follow Schedule F Instructions.
Column L —
Write the amount of Section 1231 gain from this sale
reported this year on your U.S. Form 4797 or 6252.
Column M —
Write the amount of gain from this sale reported this
year on your U.S. Form 1065, Schedule D.
Column J Worksheet
1
2
3
4
5
Column 1 times Column 2 or,
Total gain
Column 3 minus Column 4.
if Column 2 blank, Schedule F,
reported in
If negative, write zero.
Total gain
Fraction
Column H minus Column I
prior years
Write this amount in Column J.
a ________________
__________________
__________________
__________________
__________________
b ________________
__________________
__________________
__________________
__________________
c ________________
__________________
__________________
__________________
__________________
d ________________
__________________
__________________
__________________
__________________
e ________________
__________________
__________________
__________________
__________________
Instructions for Column J Worksheet
Column 3 -
If you wrote a fraction in Column 2 of this
worksheet,
For each installment sale after July 31, 1969, reported on
multiply Column 1 by that fraction. If Column 2 is blank, subtract
Schedule F:
Column I from Column H on Schedule F and write the amount on
Column 1 -
Column 3.
Write the total federal gain realized on the sale. This is
your entire gain and not just the amount of gain reported this year.
Column 4 -
Write the total gain reported on federal income tax
Column 2 -
returns in prior years.
Write the fraction, if any, written on Schedule F,
Column H.
Column 5 -
Subtract Column 4 from Column 3. If the result is
negative, write zero. Write the amount here and on Schedule F,
Column J.
This form is authorized as outlined in the Illinois Income Tax Act. Disclosure of this information is REQUIRED. Failure to provide
information could result in a penalty. This form has been approved by the Forms Management Center.
IL-492-0075
Page 2 of 4
Schedule F (IL-1065) (R-12/10)

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