Schedule F - Attach To Your Form Il-1065 - Gains From Sales Or Exchanges Of Property Acquired Before August 1, 1969 Page 3

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Schedule F (IL-1065) Instructions
General Information
What is the purpose of Schedule F?
Should I attach copies of other forms?
The purpose of this schedule is to determine, for certain property
If you filed any of the following forms or schedules, you must
acquired before August 1, 1969, the amount of appreciation
attach copies of them to your Schedule F: U.S. Form 1065,
that is attributable to the period between the date you acquired
Schedule D; U.S. Form 4797; and U.S. Form 6252.
the property and August 1, 1969. Illinois does not tax the gain
For installment sales, see the instructions on the back
resulting from appreciation that accrued before that date, which
of Schedule F.
is the effective date of the Illinois Income Tax Act. The amount of
appreciation that accrued before August 1, 1969, is often called
the “valuation limitation amount” or the “pre-August 1, 1969,
What if I need additional assistance?
appreciation amount.”
If you need additional assistance,
• visit our website at tax.illinois.gov;
Who should file Schedule F?
• write us at P.O. Box 19044, Springfield, Illinois 62794-9044;
You should file Schedule F only if
• call our Taxpayer Assistance Division, at 1 800 732-8866 or
•
you reported a capital gain from property that you acquired
217 782-3336, or
before August 1, 1969, and you have a net capital gain on U.S.
• call our TDD (telecommunications device for the deaf) at
Form 1065, Schedule D, Capital Gains and Losses; or
1 800 544-5304.
•
you reported a gain on U.S. Form 4797, Sales of Business
Our office hours are 8:00 a.m. to 5:00 p.m., Monday through
Property, from Section 1231, 1245, and 1250 property
Friday.
acquired before August 1, 1969; or
•
you reported a gain on U.S. Form 6252, Installment Sale
Income, from an installment sale on property acquired
before August 1, 1969.
Specific Instructions
Line 1
•
U.S. Form 6252: Write the amount from Line 26.
•
U.S. Form 4797: Use the following formula and write the
Column A
- Write the description of the property or full name of
result.
security as shown on your
Line 24 - (Line 25b + Line 26g)
•
U.S. Form 1065, Schedule D,
Where there is a disposition of Section 1251, 1252,
•
U.S. Form 4797, or
1254, or 1255 property, the sum of the amounts in Columns E
•
U.S. Form 6252.
and F may be less than the amount in Column D.
Column B
- Write the month and year you acquired the property.
Column G -
Write the gain shown on U.S. Form 1065,
For securities you acquired through the exercise of rights,
Schedule D.
warrants, or options, write the date exercised.
Column H -
Write the fair market value on August 1, 1969, or
Column C
- Write the month and year you disposed of the
the “applicable fraction” for each property. Your entry for each
property.
property will depend upon whether the property was a listed
security on August 1, 1969, or, if it was not listed, whether you
Column D
- Write the total gain reported this year from each
have an appraisal of its fair market value as of August 1, 1969.
disposition of property, including involuntary conversions by
See below.
casualty or theft, as shown on
•
•
Listed Securities:
If the gain was from a security listed on a
U.S. Form 1065, Schedule D,
national securities exchange or quoted in the over-the-counter
•
U.S. Form 4797, or
market between July 28 and 31, 1969, write the market value
•
U.S. Form 6252.
of the property on August 1, 1969.
Do not write any transaction for which you incurred a
If the security was traded between July 28 and 31, 1969,
loss.
use the price of the last sale during the period to value the
security. If the security was not traded during the period, use
Column E
- Write for each property the portion of Column D that
the average of the bid and ask quotations on July 31, 1969, to
is ordinary income under Section 1245 or 1250 of the Internal
value the security.
Revenue Code (IRC). This is reported on U.S. Form 4797, or U.S.
Form 6252.
•
Other Properties: Fair Market Value Readily
Ascertainable by Appraisal -
If the gain was not from
Column F
-
For each property figure the portion of Column D that
a security traded or quoted between July 28 and 31, 1969,
is a gain under IRC, Section 1231 from either U.S. Form 6252 or U.S.
write the fair market value of the property on August 1, 1969,
Form 4797.
only if the fair market value was readily ascertainable on that
date. Attach a bona fide, independent written appraisal as of
Page 3 of 4
Schedule F (IL-1065) (R-12/12)

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