Instructions For Schedule K-1-P(2) - Partner'S And Shareholder'S - Illinois Department Of Revenue Page 8
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10A
Lines 32 through 47
Total of nonbusiness amounts from
-
Column A, Lines 32 through 37.
______________
Nonbusiness amounts -
Enter the total of any nonbusiness
B
Total of nonbusiness amounts from
amounts from Column B, Lines 32 through 37 and 38b through 47
Column A, Lines 38b through 47.
______________
(do not include amounts from Line 38a).
C
Subtract Line B from Line A.
______________
A
Total of nonbusiness amounts from
Include the total amount from Line C in the total amount reported on
Column B, Lines 32 through 37.
______________
your Schedule NB.
B
Total of nonbusiness amounts from
Column B, Lines 38b through 47.
______________
Business amounts -
Enter the total of any business amounts
C
from Column A, Lines 32 through 37 and 38a through 47 (excluding
Subtract Line B from Line A.
______________
Line 38b).
Include the total amount from Line C in the total amount reported on
A
Total of business amounts from
your Schedule NB.
Column A, Lines 32 through 37.
______________
Business amounts -
Enter the total of any business amounts
B
Total of business amounts from Column A,
from Column B, Lines 32 through 37 and 38a through 47 (excluding
Lines 38a through 47 (excluding Line 38b). ______________
Line 38b).
C
Subtract Line B from Line A.
______________
A
Total of business amounts from
Include the total amount from Line C in the total amount reported on
Column B, Lines 32 through 37.
______________
Step 4, Line 25, of your Form IL-1120.
B
Total of business amounts from Column B,
Lines 38a through 47 (excluding Line 38b). ______________
Column B - Illinois share —
C
Subtract Line B from Line A.
______________
If the partnership that completed the Schedule K-1-P entered “investment
Include the total amount from Line C in the total amount reported on
partnership” in Step 1, Line 4, Column B should be blank. Do not use
Step 4, Line 33, of your Form IL-1120.
the Column B instructions for this step. Instead, refer to the instructions
under General Information, “What if the partnership is an investment
Step 7 - Your share of Illinois credits, recapture,
partnership?”
pass-through withholding payments, and federal
income subject to surcharge —
If the partnership or S
corporation has passed through to you any credit, recapture amounts,
income tax payments made on your behalf, or federal income subject
to surcharge on Lines 52a through 55, see the specific instructions for
Step 7 at the end of these instructions for more information.
Step-by-Step Instructions
for exempt organizations filing Form IL-990-T
Step 4 - Your share of business income or loss —
Include the amounts in Step 4, Column B in the total amount you report
on your Form IL-990-T, Step 3, Line 10.
Column A - Member’s share —
See General Information.
You may include any capital loss amounts on your
Column B - Illinois share —
Step 4 represents your share of
Form IL-990-T, Step 3, Line 10, only to the extent those loss amounts
the partnership’s or the S corporation’s business income apportioned to
are included in your unrelated business taxable income.
Illinois. The following instructions explain what lines to add together and
Step 5 - Your share of Illinois additions and
on what line of your form or schedule these totals are to be included.
subtractions —
If the partnership that completed the Schedule K-1-P entered “investment
partnership” in Step 1, Line 4, Column B should be blank. Do not use
Column A - Member’s share of business
the Column B instructions for this step. Instead, refer to the instructions
amounts —
under General Information, “What if the partnership is an investment
Lines 32 through 47
(excluding Line 38b) -
partnership?”
Business amounts -
Enter the total of any business amounts
Lines 20 through 31 -
Include the amounts in Step 4, Column A in
from Column A, Lines 32 through 37 and 38a through 47 (excluding
the total amount you report on your Form IL-990-T, Step 3, Line 4.
Line 38b).
Do not double count items reported as both unrecaptured
A
Total of business amounts from
Section 1250 gains on Schedule K-1-P, Line 28, and as Section 1231
Column A, Lines 32 through 37.
______________
gains on Schedule K-1-P, Line 30.
B
Total of business amounts from Column A,
You may include any capital loss amounts on your
Lines 38a through 47 (excluding Line 38b). ______________
Form IL-990-T, Step 3, Line 4, only to the extent those loss amounts are
C
Subtract Line B from Line A.
______________
included in your unrelated business taxable income.
Include the total amount from Line C in the total amount reported on
Step 3, Line 4, of your Form IL-990-T.
Schedule K-1-P(2) (R-12/17)
Page 8 of 10
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