Form Il-1065-X - Amended Partnership Replacement Tax Return - 2007 Page 3
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1
2
3A
B
As most recently
Corrected amount
reported or adjusted
Step 8: Figure your net income
48
48
48
Base income or net loss from Line 36 or Line 47.
____________|____
____________|____
49
Illinois net loss deduction (Schedule NLD).
49
49
If Line 48 is zero or a negative amount, write “0.”
____________|____
____________|____
50
50
50
Income after NLD. Subtract Line 49 from Line 48.
____________|____
____________|____
51
51
51
Write the amount from Step 5, Line 36.
____________|____
____________|____
.
.
52
52
52
Divide Line 48 by Line 51. (This fi gure cannot be greater than “1.”)
___
____________
___
____________
53
53
53
Exemption allowance. Multiply Line 52 by $1,000.
____________|____
____________|____
54
54
54
Net income. Subtract Line 53 from Line 50.
____________|____
____________|____
Step 9: Figure your net replacement tax
55
55
55
Replacement Tax. Multiply Line 54 by 1.5% (.015).
____________|____
___________|____
56
56
56
Recapture of investment credits (Schedule 4255).
____________|____
___________|____
57
57
57
Replacement Tax before investment credits. Add Lines 55 and 56
____________|____
___________|____
.
58
58
58
Investment credits (Form IL-477).
____________|____
___________|____
59
Net replacement tax. Subtract Line 58 from Line 57.
59
59
If negative, write “0.”
____________|____
____________|____
Step 10: Figure your refund or balance due
60
Payments
a
a
Credit from prior year overpayment.
____________|____
b
b
Form IL-505-B (extension) payment.
____________|____
60
Total payments. Add Lines 60a and 60b.
____________|____
61
61
Tax paid with original return (do not include penalties and interest).
____________|____
62
62
Subsequent tax payments made since the original return.
____________|____
63
63
Total tax paid. Add Lines 60, 61, and 62.
____________|____
64
64
Total amount previously refunded and/or credited for the year being amended.
____________|____
65
65
Net tax paid. Subtract Line 64 from Line 63.
____________|____
66
66
Refund. Subtract Line 59 from Line 65.
____________|____
67
67
Tax due. Subtract Line 65 from Line 59.
____________|____
68
68
Penalty (See instructions.)
____________|____
69
69
Interest (See instructions.)
____________|____
70
70
Total balance due. Add Lines 67 through 69.
____________|____
Make your check payable to “Illinois Department of Revenue.”
Write the amount of your payment on the top of Page 1 in the space provided.
Step 11: Sign here
Under penalties of perjury, I state that I have examined this return and, to the best of my knowledge, it is true, correct, and complete.
________________________________________________ _____/_____/______
________________________
(____)________________
Signature of authorized offi cer
Date
Title
Phone
________________________________________________ _____/____/_______
________________________________
Signature of preparer
Date
Preparer’s Social Security Number of fi rm’s FEIN
______________________________________
_______________________________________________________ (____)________________
Preparer fi rm’s name (or yours, if self-employed)
Address
Phone
Mail this return to: Illinois Department of Revenue, P.O. Box 19016, Springfi eld, IL 62794-9016
Reset
Print
This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this information is REQUIRED. Failure to provide information could
IL-1065-X (R-1/08)
result in a penalty. This form has been approved by the Forms Management Center.
IL-492-4506
Page 3 of 3
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