Schedule 1299-C- Income Tax Subtractions And Credits (For Individuals) Page 2
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1
222
22
Write the total credit amount from Page 1, Step 3, Line 21, here.
Economic Development for a Growing Economy (EDGE) Tax Credit
23
23
Write the amount of EDGE tax credit awarded to you for this tax year under your agreement with DCCA.
24
24
Write any distributive share of EDGE tax credit from partnerships and S corporations.
25
25
Add Lines 23 and 24. Write your Economic Development for a Growing Economy (EDGE) Tax Credit here.
Training Expense Credit
x
=
26
.
26
Write the total amount of training expenses.
016
27
27
Write the distributive share of training expense credit from partnerships and S corporations.
28
28
Add Lines 26 and 27. Write your Training Expense Credit here.
Tax Credit for Affordable Housing Donations
x
=
29
29
Write the total amount of your donation to eligible sponsors.
.50
30
Write any distributive share of tax credit for affordable housing
30
donations from partnerships and S corporations.
31
31
Add Lines 29 and 30. Write your Tax Credit for Affordable Housing Donations here.
32
32
Add Lines 22, 25, 28, and 31. Write this amount here and in Step 4, Line 42.
Step 4: Figure your credit
Figure your credit
33
33
Write your total tax from Form IL-1040, Line 16.
34
34
Add the credit amounts from your Form IL-1040, Lines 19, 20b, 21b, and 22b and write the total here.
35
35
Subtract Line 34 from Line 33. If the amount is zero or negative, write zero.
36
Write the amount of your two-year credit carryforward from Schedule 1299-C
36
of the previous year (see instructions).
37
37
Subtract Line 36 from Line 35. This amount may be negative.
38
Write the amount of your five-year credit carryforward from Schedule 1299-C
38
of the previous year (see instructions).
39
39
If Line 37 is a positive amount, subtract Line 38 from Line 37. If Line 37 is zero or negative, write zero.
40
40
Write the amount from Step 2, Line 5, from this Schedule 1299-C.
41
41
If Line 39 is a positive amount, subtract Line 40 from Line 39. If Line 39 is zero or negative, write zero.
42
42
Write the amount from Step 3, Line 32, from this Schedule 1299-C.
43
43
If Line 41 is a positive amount, subtract Line 42 from Line 41. If Line 41 is zero or negative, write zero.
44
Figure the amount of credit to use this year. STOP at the first applicable line below and if
•
Line 35 is zero, write zero here. You are not able to use any of your credits this year.
•
Line 37 is zero or a negative amount, write the lesser of Lines 35 or 36 here.
•
Line 39 is zero or a negative amount, add the lesser of Line 37 or Line 38 to Line 36 and write the total here.
•
Line 41 is zero or a negative amount, add the lesser of Line 39 or 40 to Lines 36 and 38 and write the total here.
•
Line 43 is greater than zero, add Lines 36, 38, 40, and 42 and write the total here.
•
Line 43 is a negative amount, add the lesser of Line 41 or 42 to Lines 36, 38, and 40 and write the
44
total here and on your Form IL-1040, Line 23.
Step 5: Figure your credit available to be carried forward
Two year credit carry forward
45
Compute the amount of excess credit available to be carried forward two years.
STOP at the first applicable line below and if
• Line 37 is a negative amount, add it as a positive amount to Line 40 and write the total here.
• Line 37 is zero, write the amount from Line 40 here.
• Line 39 and 41 are zero, write the amount from Line 40 here.
• Line 41 is a negative amount, write the amount as a positive amount here.
• Line 41 is zero or a positive amount, write zero here and go to Line 46. You do not have any
45
two-year credit available to carry forward.
Five year credit carry forward
46
Compute the amount of excess credit available to be carried forward five years.
STOP at the first applicable line below and if
• Line 37 is zero or a negative amount, add Lines 38 and 42 and write the total here.
• Line 39 is a negative amount, add it as a positive amount to Line 42 and write the total here.
• Line 39 is zero, write the amount from Line 42 here.
• Lines 41 and 43 are zero or negative, write the amount from Line 42 here.
• Line 43 is a negative amount, write the amount as a positive amount here.
46
• Line 43 is zero or a positive amount. You do not have any five-year credit available to carry forward.
Schedule 1299-C Back (R-01/03)
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