Instructions For Schedule K-1-P(2) - Partner'S And Shareholder'S - Illinois Department Of Revenue Page 9
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10Step 7 - Your share of Illinois credits, recapture,
Column B - Illinois share —
pass-through withholding payments, and federal
Lines 32 through 47
(excluding Line 38b) -
income subject to surcharge —
If the partnership or S
Business amounts -
Enter the total of any business amounts
corporation has passed through to you any credit, recapture amounts,
from Column B, Lines 32 through 37 and 38a through 47 (excluding
income tax payments made on your behalf, or federal income subject
Line 38b).
to surcharge on Lines 52a through 55, see the specific instructions for
Step 7 at the end of these instructions for more information.
A
Total of business amounts from
Column B, Lines 32 through 37.
______________
B
Total of business amounts from Column B,
Lines 38a through 47 (excluding Line 38b). ______________
C
Subtract Line B from Line A.
______________
Include the total amount from Line C in the total amount reported on
Step 3, Line 10, of your Form IL-990-T.
Specific Instructions
for Step 7 - Your share of the Illinois credits, recapture,
pass-through withholding payments, and federal income
subject to surcharge
—
Line 52 - Illinois Credits
The following credits are available
For tax years ending on or after December 31, 2000,
for partnerships and S corporations to pass through to you.
partnerships and S corporations automatically pass these credits
through to their partners or shareholders that are subject to
Line 52a -
Film Production Services Tax Credit
replacement tax.
Line 52b -
Enterprise Zone Investment Credit
Lines 53a, 53b, and 53c — Recapture —
Line 52c -
Tax Credit for Affordable Housing Donations
Your share of
recapture is based on your share of the original investment credit.
Line 52d -
Economic Development for a Growing Economy (EDGE)
Tax Credit
•
If you shared in the original credit and you are no longer a
Line 52e -
Research and Develpment Credit
partner or shareholder of the partnership or the S corporation in
Line 52f -
Ex-Felons Jobs Credit
the year of recapture, Lines 53a, 53b, and 53c will be the only
lines completed on this schedule.
Line 52g -
Student-Assistance Contribution Credit
•
If your share in the year of the original investment credit is
Line 52h -
Angel Investment Credit
different from your share in the year of the recapture, Lines
Line 52i -
New Markets Credit
53a, 53b, and 53c will be completed and the partnership or the
Line 52j -
River Edge Historic Preservation Credit
S corporation will attach a sheet explaining the difference.
Line 52k -
Live Theater Production Credit
If recapture is reported to you for a particular investment credit, and
Line 52l -
Hospital Credit
you claimed the corresponding credit against your Illinois income or
Line 52m - Other Credits
replacement tax liability in a previous year, you must file a completed
Line 52n -
Replacement Tax Investment Credit
Illinois Income Tax return including Schedule 4255, Recapture of
Use the chart below to include any credit amounts passed to you.
Investment Tax Credits. Include the total amount from
Trusts/Estates/Corporations/
Partnerships/S corporations:
Include the amount from Schedule K-1-P,
Individuals: on Schedule
Exempt Orgs: on Schedule
on Schedule 1299-A, Step 2,
Step 7, Line
1299-C, Step 3, Line
1299-D, Step 1, Line
Line
52a
5
5
16b
Film Production Services Tax Credit
52b
10
11
18
Enterprise Zone Investment Credit
52c
16
18
21
Tax Credit for Affordable Housing Donations
52d
13
21
24
EDGE Tax Credit
52e
25
31
33
Research and Development Credit
52f
28
34
36
Ex-Felons Jobs Credit
52g
31
39
39
Student-Assistance Contribution Credit
52h
37
42
42
Angel Investment Credit
52i
34
45
45
New Markets Credit
52j
40
48
48
River Edge Historic Preservation Credit
52k
43
51
51
Live Theater Production Credit
52l
50
60
58
Hospital Credit
52m
55
63
61
Other Credits
52n
n/a
Form IL-477, Line 4
Form IL-477, Line 4
Replacement Tax Investment Credit
Schedule K-1-P(2) (R-12/17)
Page 9 of 10
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