Form Il-1120-St-X - Amended Small Business Corporation Replacement Tax Return - 2011 Page 2
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1
2
3
4Step 3: Figure your ordinary income or loss
A
B
As most recently
Corrected
amount
reported or adjusted
1
1
1
Ordinary income or loss or equivalent from U.S. Schedule K.
_____________ 00
_____________ 00
2
2
2
Net income or loss from all rental real estate activities.
_____________ 00
_____________ 00
3
3
3
Net income or loss from other rental activities.
_____________ 00
_____________ 00
4
4
4
Portfolio income or loss.
_____________ 00
_____________ 00
5
5
5
Net IRC Section 1231 gain or loss.
_____________ 00
_____________ 00
6
All other items of income or loss that were not included in the computation
of income or loss on Page 1 of U.S. Form 1120S.
6
6
Identify: ________________________
_____________ 00
_____________ 00
7
7
7
Add Lines 1 through 6. This is your ordinary income.
_____________ 00
_____________ 00
Step 4: Figure your unmodified base income or loss
8
8
8
Charitable contributions.
_____________ 00
_____________ 00
9
9
9
Expense deduction under IRC Section 179
_____________ 00
_____________ 00
.
10
10
10
Interest on investment indebtedness
_____________ 00
_____________ 00
.
11
All other items of expense that were not deducted in the computation of ordinary
11
11
income or loss on Page 1 of U.S. Form 1120S. Identify: __________________
_____________ 00
_____________ 00
12
12
12
Add Lines 8 through 11.
_____________ 00
_____________ 00
13
Subtract Line 12 from Line 7. This is your total unmodified base income
13
13
or total loss.
_____________ 00
_____________ 00
Step 5: Figure your income or loss
14
14
14
Write the amounts from Line 13.
_____________ 00
_____________ 00
15
15
15
State, municipal, and other interest income excluded from Line 14.
_____________ 00
_____________ 00
16
16
16
Illinois replacement tax deducted in arriving at Line 14.
_____________ 00
_____________ 00
17
17
17
Illinois special depreciation addition (Form IL-4562).
_____________ 00
_____________ 00
18
18
18
Related-party expenses addition (Schedule 80/20)
_____________ 00
_____________ 00
19
19
19
Distributive share of additions (Schedule(s) K-1-P or K-1-T).
_____________ 00
_____________ 00
20
The amount of loss distributable to a shareholder subject to
20
20
replacement tax (Schedule B).
_____________ 00
_____________ 00
21
21
21
Other additions (Schedule M for businesses).
_____________ 00
_____________ 00
22
22
22
Add Lines 14 through 21. This is your total income or loss.
_____________ 00
_____________ 00
Step 6: Figure your Illinois base income or net loss
23
23
23
Interest income from U.S. Treasury and exempt federal obligations.
_____________ 00
_____________ 00
24
Share of income distributable to a shareholder subject to
24
24
replacement tax (Schedule B).
_____________ 00
_____________ 00
25
Enterprise Zone or River Edge Redevelopment Zone
25
25
Dividend subtraction (Schedule 1299-A).
_____________ 00
_____________ 00
26
Enterprise Zone or River Edge Redevelopment Zone
26
26
Interest subtraction (Schedule 1299-A).
_____________ 00
_____________ 00
27
27
27
High Impact Business Dividend subtraction (Schedule 1299-A).
_____________ 00
_____________ 00
28
28
28
High Impact Business Interest subtraction (Schedule 1299-A).
_____________ 00
_____________ 00
29
29
29
Contribution subtraction (Schedule 1299-A).
_____________ 00
_____________ 00
30
30
30
Illinois Special Depreciation subtraction (Form IL-4562).
_____________ 00
_____________ 00
31
31
31
Related-party expenses subtraction (Schedule 80/20).
_____________ 00
_____________ 00
32
32
32
Distributive share of subtractions (Schedule(s) K-1-P or K-1-T).
_____________ 00
_____________ 00
33
33
33
Other subtractions (Schedule M for businesses).
_____________ 00
_____________ 00
34
34
34
Total subtractions. Add Lines 23 through 33.
_____________ 00
_____________ 00
35
35
35
Base income or net loss. Subtract Line 34 from Line 22.
_____________ 00
_____________ 00
If the amount on Line 35 is derived inside and outside Illinois, complete Step 7. Otherwise, go to Step 8.
*132902110*
Page 2 of 4
IL-1120-ST-X (R-12/11)
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