Schedule K-1-T(2) Beneficiary'S Instructions (Page 5 of 6) in pdf

Step-by-Step Instructions for

partnerships filing Form IL-1065 and

S corporations filing Form IL-1120-ST

Steps 3 and 4 - Your share of nonbusiness and

Column B - Illinois Share —

business income —

Lines 30 through 46 (excluding Line 36a) -

Add any nonbusi-

ness amounts from Lines 32 through 46, Column B. Include this total

Column A - Beneficiary’s share —

amount on your Form IL-1065 or Form IL-112-ST, Step 6 , Line 44.

Lines 9 through 29 -

The amounts reported on Lines 9 through 29

excluding Line

Add any business amounts from Lines 32 through 45 (

must match your federal Schedule K-1.

36b

), Column B. Include this amount on your Form IL-1065 or Form

Column B - Illinois Share —

IL-1120-ST, Step 6, Line 45.

Step 3 represents your share of the trust’s or estate’s nonbusiness

Use the information in Column A when completing Step 6 of the

income allocated to Illinois. Step 4 represents your share of the trust’s or

Schedule K-1-P for your partners or shareholders.

estate’s business income apportioned to Illinois. The following information

Column B - Illinois share —

allows you to determine the amount to include on specific lines of your

Form IL-1065 or IL-1120-ST.

Step 6 - Your share of the Illinois August 1, 1969,

Lines 9 through 29 -

appreciation amounts —

Include the amounts in Step 3, Column B in the

total amount you report on your Form IL-1065 or IL-1120-ST, Step 6,

Line 47 -

Include this amount on your Schedule F, Column K, Line 2.

Line 44.

Include the amounts in Step 4, Column B in the total amount you report on

Line 48 -

Include this amount on your Schedule F, Column L, Line 2.

your Form IL-1065 or IL-1120-ST, Step 6, Line 45.

Line 49 -

Include this amount on your Schedule F, Column M, Line 2.

Step 5 - Your share of Illinois additions and

Step 7 - Figure your beneficiary’s share of pass-

subtractions —

through entity payments

Column A - Member’s share of additions —

Line 50 - Pass-through entity payments —

If the trust or estate

Lines 30 through 35 -

The amounts on these lines are reported in

made income tax payments on your behalf, write the amount from Line

your Illinois base income by including them on your Form IL-1065 or

50 on your

IL-1120-ST Step 4, Line 19.

•

Form IL-1065, Step 9, Line 59c,

•

Column A - Member’s share of subtractions —

Form IL-1120-ST, Step 9, Line 57c.

Add Step 5, Column A,

Line 36a

______________

Line 36b

______________

Line 37

______________

Line 38

______________

Line 41

______________

Line 42

______________

Line 43

______________

Line 44

______________

Line 45

______________

Line 46

______________

Total

______________

Lines 36a, 36b, and 41 through 46 -

The amounts on these lines are

reported in your Illinois base income by including the total of these lines on

your Form IL-1065 or Form IL-1120-ST, Step 5, Line 32,

Lines 39a -

Include the amount from Line 39a on your Form

IL-1065 or IL-1120-ST, Schedule 1299-A, Tax Subtractions and

Credits, Step 1, Line 2.

Lines 39b -

Include the amount from Line 39b on your Form IL-1065 or

IL-1120-ST, Schedule 1299-A, Step 1, Line 5.

Lines 40 -

Include the amount from Line 40 on your Form IL-1065

or IL-1120-ST, Schedule 1299-A, Step 1, Line 9.

Schedule K-1-T(2) (R-12/11)

Page 5 of 6

Schedule K-1-T(2) Beneficiary'S Instructions Page 5

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