Schedule 80/20 - Related-Party Expenses - Illinois Department Of Revenue
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Illinois Department of Revenue
Year ending
Schedule 80/20
____ ____
Related-Party Expenses
Month
Year
Attach to your Form IL-1120, IL-1120-ST, or IL-1065. For tax years ending on or after December 31, 2004.
IL Attachment No. 14
Write your name as shown on your Form IL-1120.
Write your Federal employer identification number (FEIN).
____________________________________________________
____ ____ - ____ ____ ____ ____ ____ ____ ____
Step 1: Identify your 80/20 Companies
A
B
C
D
TOTALS
1
Write the name of each
1
80/20 Company
_______________________
______________________
______________________
2
Write the FEIN for each 80/20
2
Company, if applicable.
__ __ - __ __ __ __ __ __ __
__ __-__ __ __ __ __ __ __
__ __-__ __ __ __ __ __ __
Step 2: Figure your addition modification
(All taxpayers - complete Lines 3 through 7)
3
Amount of interest paid to
3
each 80/20 company.
__________________
_________________
________________
4
Amount of dividends received
4
from each 80/20 company.
__________________
_________________
________________
5
Subtract Line 4 from Line 3.
If negative,write the amount
5
in brackets.
__________________
_________________
________________
6
Intangible expenses paid to
6
each 80/20 company.
__________________
_________________
________________
7
Add Lines 5 and 6. If the result
is negative, write “0” and see
7
7
instructions.
__________________
_________________
________________
_______________
Step 3: Figure your subtraction allowance
(All taxpayers - complete Lines 8 through 11.)
8
Write the amount of interest
received from each 80/20
8
company.
___________________
_________________
________________
9
Write the lesser of Line 5 or
Line 8. If Line 5 is negative,
9
9
write “0.”
___________________
_________________
________________
_______________
10
Write the amount of intangible
income received from each
10
80/20 company.
___________________
_________________
________________
11
Write the lesser of
Lines 6, 7, or 10. If Line 7
11
11
is negative, write “0.”
___________________
_________________
________________
_______________
80/20 Companies only - complete Lines 12 through 18
12
Write the name and FEIN of
Name ________________________________________________________
the U.S. Company that paid you
interest or intangible expenses. FEIN ___ ___ - ___ ___ ___ ___ ___ ___ ___
13
Write the amount of interest
13
received from the U.S. Company.
_________________
14
Write the amount of interest
paid to you from the U.S.
14
Company’s Schedule 80/20, Line 5.
_________________
15
15
Write the lesser of Line 13 or Line 14.
_______________
16
Write the intangible income
16
received from the U.S. company.
_________________
17
Write the amount of intangible
expenses paid to you from the U.S.
Company’s Schedule 80/20,
17
Line 6 or Line 7, whichever is less.
__________________
18
18
Write the lesser of Line 16 or Line 17.
______________
All taxpayers complete Line 19.
19
Add Lines 9, 11, 15, and 18.
19
Write the amount here and see instructions.
Schedule 80/20 (R-12/06)
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