Schedule F - Attach To Your Form Il-1065 - Gains From Sales Or Exchanges Of Property Acquired Before August 1, 1969 Page 4

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August 1, 1969, made by a competent appraiser of recognized
Line 3
standing and ability, to support the readily ascertainable
Column K -
Write the total of Column K. This is the total
fair market value. Book value is not generally acceptable as
pre-August 1, 1969, appreciation amount for Sections 1245 and
evidence of the August 1, 1969, fair market value.
1250 gain. Write each partner’s share on each Schedule K-1-P,
•
Other Properties: Fair Market Value Not Readily
Step 6, Line 48, Column A.
Ascertainable - (The Number-of-Months Method)
If the fair market value of the property was not readily
Line 4
ascertainable on August 1, 1969, write a fraction (also called
Column L -
Write the total of Column L. This is the total
“applicable fraction”) whose numerator is the number of full
pre-August 1, 1969, appreciation amount for Section 1231 gain
calendar months you held the property before August 1, 1969,
(including amounts attributable to involuntary conversions by
and whose denominator is the total number of full calendar
casualty or theft). Write each partner’s share on each Schedule
months you held the property. Do not include in the numerator
K-1-P, Step 6, Line 49, Column A.
or denominator the month that you acquired or disposed of the
property. If the property was acquired in July, 1969, write zero
Line 5
in Columns H and J.
Column L -
Write the amount of pre-August 1, 1969,
Column I -
If you wrote the fair market value of the property in
appreciation amounts from involuntary conversions by casualty or
Column H, write in Column I the federal income tax basis of the
theft that were included in the amounts shown on Lines 1 and 2.
property (for determining gain) as of August 1, 1969. Federal
income tax basis is the amount you would have written as “cost or
Line 6
other basis” on U.S. Form 1065, Schedule D, or U.S. Form 6252 if
you had sold the property on August 1, 1969.
Column L -
Subtract Line 5 from Line 4. This is the total
pre-August 1, 1969, appreciation amount for Section 1231 gain,
If you wrote a fraction in Column H, leave Column I
excluding amounts attributable to involuntary conversion by
blank.
casualty or theft. Write each partner’s share on each Schedule
Column J -
If you wrote the fair market value or an appraisal
K-1-P, Step 6, Line 50, Column A.
value of the property in Column H, subtract Column I from
Line 7
Column H and write the difference. However, if Column I is equal
to or greater than Column H, write zero. If you wrote a fraction in
Column M -
Write the total of Column M. This is the total
Column H, multiply Column D by the fraction and write the result.
pre-August 1, 1969, appreciation amount for capital gain.
Column K -
Write each partner’s share on each Schedule K-1-P, Step 6,
Write the smaller of Column E or Column J. If you
Line 51, Column A.
show no amount in Column E, write zero in Column K.
Column L -
Write the smaller of Column F or the result of
Lines 8 through 10 and 12 through 14.
subtracting Column K from Column J. If Column F is blank, write
Follow the instructions on Schedule F.
zero in Column L.
Column M -
Write the smaller of Column G or Column J. If
Line 11
Column G is blank, write zero in Column M.
Write the amounts from
Line 2
U.S. Form 1065, Line 6 or U.S. Form
1065-B, Line 9
a ________________
Refer to all Schedules K-1-P, Partner’s or
Shareholder’s Share of Income, Deductions, Credits, and
U.S. Form 1065, Schedule D, Line 15
Recapture, you received from partnerships or S corporations,
or U.S. Form 1065-B, Schedule D,
and all Schedules K-1-T, Beneficiary’s Share of Income and
Line 14.
b ________________
Deductions, you received from trusts or estates for the amounts
to write on Line 2, Columns K, L, and M.
U.S. Form 4797, Part I, Line 7
c ________________
Column K -
Write your share of any pre-August 1, 1969,
Add Lines a, b, and c, and write the
appreciation amounts for Section 1245 and 1250 gains, or capital
result here and on Schedule F, Line 11 d ________________
assets, from Schedule K-1-P, Step 6, Line 48, Column A, and
Schedule K-1-T, Step 6, Line 47, Column A.
Column L -
Write your share of any pre-August 1, 1969,
appreciation amounts (including involuntary conversions by
casualty or theft) for Section 1231 gain from Schedule K-1-P,
Step 6, Line 49, Column A, and Schedule K-1-T, Step 6, Line 48,
Column A.
Column M -
Write your share of capital gain appreciation
amounts from Schedule K-1-P, Step 6, Line 51, Column A, and
Schedule K-1-T, Step 6, Line 49, Column A.
Page 4 of 4
Schedule F (IL-1065) (R-12/12)

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