Schedule Sa - Attach To Form Il-1040 - Specific Accounting Method Of Computing Net Income For Individuals Page 2
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1
2Schedule SA Instructions
General Information
Step 3 — Figure your apportionment factor -
Nonresidents or part-year residents only
The purpose of Schedule SA, Specific Accounting, is to provide a
means for calculating your income and tax at separate rates, due to
If you completed Form IL-1040, Schedule NR, Nonresident and Part-
an income tax rate change in the middle of the tax year. Schedule SA
Year Resident Computation of Illinois Tax, you must complete Step 3
allows you to figure your tax based on the specific accounting
to apportion business income and allocate nonbusiness income to
Illinois appropriately.
method.
—
Line 10
Enter the amount of nonbusiness income or
The specific accounting method allows you to treat your net
loss included in Line 9. The amount of nonbusiness income is
income or loss and modifications as though they were earned in two
represented in the amounts shown on your Schedule NR, Steps 3
different taxable years.
and 4, Column A.
For individuals, the amount earned prior to January 1, 2015, is taxed
Line 11 —
Enter the amount of business income or loss from
at 5 percent. The amount earned on or after January 1, 2015, is
non-unitary partnerships, S corporations, trusts, or estates, as shown
taxed at 3.75 percent. The two tax amounts are then added together
on your Schedule NR, Steps 3 and 4, Column A.
to get the total tax liability.
Lines 14 through 16 —
Enter the amounts calculated on the
Business or Farm Income Apportionment Formula Worksheet in the
Do not use this schedule if you are filing a Form IL-1040 for a
Schedule NR instructions.
calendar tax year.
Line 18 —
Enter the amount of nonbusiness income or loss
Who should use Schedule SA?
included in Line 9 allocated to Illinois on your Schedule NR, Steps 3
and 4, Column B.
You must use Schedule SA if you elect not to use the blended rate
method of computing your tax when the rate changes in the middle
Line 19 —
Enter the amount of business income apportioned to
of the tax year. The blended rate method taxes your income as if you
Illinois by a non-unitary partnership, S corporation, trust, or estate,
received it evenly throughout the year.
as reported to you on Schedules K-1-P, Partner’s or Shareholder’s
Share of Income, Deductions, Credits, and Recapture, or K-1-T,
If you actually earned more of your income during the period to
Beneficiary’s Share of Income and Deductions, Steps 4 and 5 and
which the 3.75 percent tax rate applies, electing to use the specific
included in Column B of your Schedule NR.
accounting method on Schedule SA to determine how much of your
Step 4 — Figure your income tax
income is taxed at the 3.75 percent rate and how much is taxed at
the 5 percent rate will reduce your tax liability. The election is made
Line 20 —
Follow the instructions on the form.
by attaching Schedule SA to your timely-filed original return. Once
Line 21 —
Prorate your exemption allowance between the two
the election is made, it is irrevocable.
separate tax periods based on the number of days in each tax
period.
Specific Instructions
• Divide the number of days in each tax period by the total
Step 1— Personal information
number of days in the tax year.
• Round the result to six decimal places.
Enter your name and Social Security number, as shown on your
• Multiply the decimal by the total exemption allowance. See
Form IL-1040, Individual Income Tax Return.
Form IL-1040, Line 10 or Schedule NR, Line 50 for your total
Step 2 — Income
exemption allowance amount.
The sum of Column A and Column B cannot exceed your
Column A —
For each line item, enter the amounts included for the
total exemption allowance amount.
portion of your tax year that comes before January 1, 2015, based on
Line 22 —
your method of allocation.
Follow the instructions on the form.
Column B —
For each line item, enter the amounts included for the
The total from
Must equal the amount on
portion of your tax year that comes after December 31, 2014, based
Columns A
and B Line
on your method of allocation.
20
Form IL-1040, Line 9 or Schedule NR, Line 46
All items of income, deduction and loss passed through to
21
Form IL-1040, Line 10 or Schedule NR, Line 50
you by a partnership, S corporation, trust, or estate are treated as
22
Form IL-1040, Line 11 or Schedule NR, Line 51
received by you on the last day of that entity’s taxable year.
Lines 23, 24, and 25 —
Follow the instructions on the form.
Full-year Illinois residents: Skip Step 3, enter the amounts
from Line 9 on Step 4, Line 20, and complete the rest of the form.
For fiscal year 2015 returns filed on 2014 forms, attach this
Nonresidents and part-year residents: Complete Steps 3 and 4.
form directly behind your Form IL-1040, as Attachment No. 1. This
attachment supersedes all other attachments.
This form is authorized as outlined under the Illinois Income Tax Act. Disclosure of
IL-1040 Schedule SA back (R-12/14)
this information is required. Failure to provide information could result in a penalty.
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