Schedule 1299-D - Income Tax Credits (For Corporations And Fiduciaries) - 2004 Page 3
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1
2
3
4Step 4: Figure your credit (See instructions before completing this Step.)
Figure your credit
45
45
Write your total tax (see instructions).
46
46
Write the amount of foreign tax credit from Form IL-1041, Schedule CR, Line 8 (Form IL-1041 filers only).
47
47
Subtract Line 46 from Line 45. If the amount is zero or negative, write zero.
48
48
Write the amount of your current year credits from Step 1, Line 5 (see instructions).
49
49
Subtract Line 48 from Line 47. If this amount is negative, write zero.
50
50
Write the amount from 2003 Schedule 1299-D, Line 64.
51
51
Subtract Line 50 from Line 49. This amount may be negative.
52
52
Write the amount from 2003 Schedule 1299-D, Line 65.
53
If Line 51 is negative, write the amount from Line 52 as a negative number.
53
Otherwise, subtract Line 52 from Line 51.
54
54
Write the amount from 2003 Schedule 1299-D, Line 66.
55
If Line 53 is negative, write the amount from Line 54 as a negative number.
55
Otherwise, subtract Line 54 from Line 53.
56
56
Write the amount from 2003 Schedule 1299-D, Line 67.
57
If Line 55 is negative, write the amount from Line 56 as a negative number.
57
Otherwise, subtract Line 56 from Line 55.
58
58
Write the amount from 2003 Schedule 1299-D, Line 68.
59
If Line 57 is negative, write the amount from Line 58 as a negative number.
59
Otherwise, subtract Line 58 from Line 57.
60
60
Write the amount from 2003 Schedule 1299-D, Line 69.
61
If Line 59 is negative, write the amount from Line 60 as a negative number.
61
Otherwise, subtract Line 60 from Line 59.
62
62
Write the amount from 2003 Schedule 1299-D, Line 70.
63
If Line 61 is negative, write the amount from Line 62 as a negative number.
63
Otherwise, subtract Line 62 from Line 61.
64
64
Write the amount from Step 2, Line 8, from this Schedule 1299-D.
65
If Line 63 is negative, write the amount from Line 64 as a negative number.
65
Otherwise, subtract Line 64 from Line 63.
66
66
Write the amount from Step 3, Line 44, from this Schedule 1299-D.
67
If Line 65 is negative, write the amount from Line 66 as a negative number.
67
Otherwise, subtract Line 66 from Line 65.
68
Figure the amount of credit to use this year.
If the lesser number is negative, write zero.
a
a
Write the lesser of Line 47 or Line 48.
_______________
b
b
Write the lesser of Line 49 or Line 50.
_______________
c
c
Write the lesser of Line 51 or Line 52.
_______________
d
d
Write the lesser of Line 53 or Line 54.
_______________
e
e
Write the lesser of Line 55 or Line 56.
_______________
f
f
Write the lesser of Line 57 or Line 58.
_______________
g
g
Write the lesser of Line 59 or Line 60.
_______________
h
h
Write the lesser of Line 61 or Line 62.
_______________
i
i
Write the lesser of Line 63 or Line 64.
_______________
j
j
Write the lesser of Line 65 or Line 66.
_______________
Add Lines a through j. Write the result here and on your
Form IL-1120, Part V, Line 4, IL-1041, Part IV, Line 5, or
68
IL-990-T, Part IV, Line 3.
Schedule 1299-D (R-12/04)
Page 3 of 4
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