Schedule 1299-C - Income Tax Subtractions And Credits (For Individuals) - 2003 Page 2
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15
15
Write the amount from Page 1, Step 3, Line 14, here.
Enterprise Zone Investment Credit
A
B
C
D
E
F
G
Description of
Placed in service
ACRS
New/Used
Name of zone
Basis
Column F x .5% (.005)
qualified property
in Illinois
class (See instructions)
16 a
a
/
b
b
/
c
c
/
17
17
Write any distributive share of enterprise zone investment credit from partnerships and S corporations.
18
18
Add Column G, Lines 16a through 16c, and Line 17. Write your Enterprise Zone Investment Credit here.
Economic Development for a Growing Economy (EDGE) Tax Credit
19
19
Write the amount of EDGE Tax Credit awarded to you for this tax year under your agreement with DCEO.
20
20
Write any distributive share of EDGE Tax Credit from partnerships and S corporations.
21
21
Add Lines 19 and 20. Write your EDGE Tax Credit here.
Tax Credit for Affordable Housing Donations
x
=
22
22
Write the total amount of your donation to eligible sponsors.
.50
23
23
Write any distributive share of Tax Credit for Affordable Housing Donations from partnerships and S corporations.
24
24
Add Lines 22 and 23. Write your Tax Credit for Affordable Housing Donations here.
Environmental Remediation Tax Credit
25
25
Write the amount of credit remaining from prior years (see instructions).
26
26
Write any distributive share of Environmental Remediation Tax Credit from partnerships and S corporations.
27
27
Add Lines 25 and 26.
28
28
Write the lesser of Line 27 or $40,000. This is your Environmental Remediation Tax Credit.
29
29
Add Lines 15, 18, 21, 24, and 28. Write this amount here and in Step 4, Line 49.
Step 4: Figure your credit (See instructions before completing this step.)
Figure your credit
30
30
Write your total tax from Form IL-1040, Line 15.
31
Add the credit amounts from Form IL-1040, Lines 19, 20b, 21b, (and 22b only if you checked the “no” box
31
on Line 5 of the EIC Worksheet in the IL-1040 Instructions for Line 22) and write the total here. (see instructions)
32
32
Subtract Line 31 from Line 30.
33
33
Write the amount of your unused two-year credit carryforward from 2001 (see instructions for Step 4).
34
34
If Line 32 is zero, write zero. Otherwise, subtract Line 33 from Line 32. This amount may be negative.
35
35
Write the amount of your unused five-year credit carryforward from 1998.
36
36
If Line 34 is negative, write the amount from Line 35 as a negative number. Otherwise, subtract Line 35 from Line 34.
37
37
Write the amount of your unused two-year credit carryforward from 2002.
38
38
If Line 36 is negative, write the amount from Line 37 as a negative number. Otherwise, subtract Line 37 from Line 36.
39
39
Write the amount of your unused five-year credit carryforward from 1999.
40
40
If Line 38 is negative, write the amount from Line 39 as a negative number. Otherwise, subtract Line 39 from Line 38.
41
41
Write the amount of your unused five-year credit carryforward from 2000.
42
42
If Line 40 is negative, write the amount from Line 41 as a negative number. Otherwise, subtract Line 41 from Line 40.
43
43
Write the amount of your unused five-year credit carryforward from 2001.
44
44
If Line 42 is negative, write the amount from Line 43 as a negative number. Otherwise, subtract Line 43 from Line 42.
45
45
Write the amount of your unused five-year credit carryforward from 2002.
46
46
If Line 44 is negative, write the amount from Line 45 as a negative number. Otherwise, subtract Line 45 from Line 44.
47
47
Write the amount from Step 2, Line 10, from this Schedule 1299-C.
48
48
If Line 46 is negative, write the amount from Line 47 as a negative number. Otherwise, subtract Line 47 from Line 46.
49
49
Write the amount from Step 3, Line 29, from this Schedule 1299-C.
50
50
If Line 48 is negative, write the amount from Line 49 as a negative number. Otherwise subtract Line 49 from Line 48.
51
Figure the amount of credit to use this year.
If the lesser number is negative, write zero.
a Write the lesser of Line 32 or 33 here.
a
b Write the lesser of Line 34 or 35 here.
b
c Write the lesser of Line 36 or 37 here.
c
d Write the lesser of Line 38 or 39 here.
d
e Write the lesser of Line 40 or 41 here.
e
f
Write the lesser of Line 42 or 43 here.
f
g Write the lesser of Line 44 or 45 here.
g
h Write the lesser of Line 46 or 47 here.
h
i
Write the lesser of Line 48 or 49 here.
i
51
Add Lines a through i. Write the result here and on Form IL-1040, Step 7, Line 23.
Page 2 of 4
Schedule 1299-C (R-12/03)
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