Schedule 1299-A - Tax Subtractions And Credits (For Partnerships And S Corporations)
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1
2Illinois Department of Revenue
Tax Subtractions and Credits
Schedule 1299-A
/
(for partnerships and S corporations)
Attach to your Form IL-1065 or IL-1120-ST.
Tax year ending
–
Write your name as shown on your return
Write your federal employer identification number (FEIN)
Step 1: Figure your subtractions
Enterprise Zone or Foreign Trade Zone (or sub-zone) Dividend Subtraction
A
B
C
Corporation’s name
Name of zone
Dividend amount
1 a
a
b
b
c
c
2
Add Column C, Lines 1a through 1c. Write your dividend subtraction here and on your
2
Form IL-1065, Part I, Line 5e or Form IL-1120-ST, Part I, Line 5b.
Contribution Subtraction - Form IL-1120-ST filers only
A
B
C
D
Name of zone
Zone organization
Contribution amount
Column C
2
X
3 a
a
b
b
c
c
4 Add Column D, Lines 3a through 3c. Write your contribution subtraction here and on your
4
Form IL-1120-ST, Part I, Line 5b.
Interest Subtraction - Form IL-1120-ST financial organizations only
A
B
C
D
E
F
G
H
Borrower
Property by
Year of
Zone of
Basis of
Loan
Total
Column E ÷ by Column F
which loan
investment
secured
property
amount
interest
(cannot exceed “1”)
is secured
credit
property
Multiply result by Col. G
5 a
a
b
b
c
c
6
Add Column H, Lines 5a through 5c. Write your interest subtraction here and on your
6
Form IL-1120-ST, Part I, Line 5b.
Step 2: Figure your credits
Enterprise Zone Investment Credit
A
B
C
D
E
F
G
Description of
Date placed in
ACRS
New/Used
Name of zone
Basis
Column F x .5% (.005)
qualified property
service in Illinois
class
(write state abbrev.
Month
Year
where prev. used)
a
7 a
/
b
/
b
c
c
/
8
8
Write the distributive share of enterprise zone investment credit from other partnerships and S corporations.
9
Add Column G, Lines 7a through 7c, and Line 8. Write your Enterprise Zone Investment Credit here
9
and write each owner’s share on Schedule K-1-P , Step 7, Line 43b.
Training Expense Credit
x
=
10
.
10
Write the total amount of training expenses.
016
11
11
Write the distributive share of training expense credit from other partnerships and S corporations.
12
Add Lines 10 and 11. Write your Training Expense Credit here and write each owner’s share on
12
Schedule K-1-P, Step 7, Line 43c.
This form is authorized as outlined by 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-492-0095
Schedule 1299-A Front (R-12/02)
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