Form Il-1041 - Illinois Fiduciary Income And Replacement Tax Return - 1998 Page 2
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1
2Part III — Net income (loss) and replacement tax
1 a
1a
Write the base income (loss) from Part I, Line 5, or, nonresident, from Schedule NR, Part I, Line 23.
_____________|___
a
Check this box if Line 1a is a loss and you are electing to forgo the Illinois NLD carryback period.
b
1b
Write the amount of Illinois net loss deduction (NLD) (attach Schedule NLD, see instructions).
_____________|___
c
1c
Income after NLD. Subtract Line 1b from Line 1a (cannot be less than zero).
_____________|___
2
Residents, write the standard exemption of $1,000.
Nonresidents, write the amount from Schedule NR, Part III, Line 4.
2
(Short-year filers, see General Information.)
_____________|___
3
3
Net income. Subtract Line 2 from Line 1c. Write here and on Part IV, Line 1.
_____________|___
For trusts only, estates go to Part IV
4 a
4a
Replacement tax. Multiply Line 3 by 1.5% (.015).
_____________|___
b
4b
Recapture of investment credits from Schedule 4255 (See instructions.)
_____________|___
5
5
Total replacement tax. Add Lines 4a and 4b.
_____________|___
6
6
Write the amount of investment credits from Form IL-477, Part I, Line 9 (attach Form IL-477, see instructions).
_____________|___
7
Net replacement tax.
7
Subtract Line 6 from Line 5 (cannot be less than zero). Write here and on Part II, Line 1.
_____________|___
Part IV — Income tax
1
1
Write the amount of net income from Part III, Line 3.
_____________|___
2 a
2a
Income tax. Multiply Line 1 by 3% (.03).
_____________|___
b
Recapture of investment credits from Schedule 4255 (See instructions.)
2b _____________|___
3
3
Total income tax. Add Lines 2a and 2b.
_____________|___
4 a
4a
Foreign tax credit (Attach Schedule CR and all required supporting documents.)
_____________|___
b
4b
Income tax credits from Schedule 1299-D (Attach Schedule 1299-D, see instructions.)
_____________|___
c
4c
Credit for replacement tax paid from worksheet (See instructions.)
_____________|___
d
4d
Carryforward of credit for replacement tax paid (See instructions.)
_____________|___
5
5
Total credits. Add Lines 4a through 4d.
_____________|___
6
Net income tax.
6
Subtract Line 5 from Line 3 (cannot be less than zero). Write here and on Part II, Line 2.
_____________|___
Part V — This information must be completed by all taxpayers.
1
Check one of the following:
Estate
Simple trust
Complex trust
2
If a trust, check one of the following:
Testamentary trust
Inter vivos trust
3 a
If a trust, write the date created: ____/____/____.
b
If an estate, write the date of the decedent’s death: ____/____/____.
4
Check the method of accounting used in preparing this return:
Cash
Accrual
Other (specify: _____________________ )
5
Did this trust or estate receive income from a partnership or another trust or estate?
Yes
No
If yes, list all such partnerships, trusts, or estates showing the name, address, and FEIN of each (attach additional sheet, if necessary).
Name
Address
FEIN
____________________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________________
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-492-0070
IL-1041 back (R-12/98)
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