Form Il-1065 - Partnership Replacement Tax Return - 2014 Page 2
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5Step 4: Figure your income or loss
14
14
Enter your unmodified base income or loss from Line 13.
00
15
15
State, municipal, and other interest income excluded from Line 14.
00
16
16
Illinois replacement tax deducted in arriving at Line 14.
00
17
17
Illinois Special Depreciation addition. Attach Form IL-4562.
00
18
18
Related-party expenses addition. Attach Schedule 80/20.
00
19
19
Distributive share of additions. Attach Schedule(s) K-1-P or K-1-T.
00
20
20
Guaranteed payments to partners from U.S. Form 1065 or 1065-B.
00
21
21
The amount of loss distributable to a partner subject to replacement tax. Attach Schedule B
00
.
22
22
Other additions. Attach Illinois Schedule M (for businesses).
00
23
23
Add Lines 14 through 22. This amount is your income or loss.
00
Step 5: Figure your base income or loss
24
24
Interest income from U.S. Treasury obligations or other exempt federal obligations.
00
25
25
August 1,1969, valuation limitation amount. Attach Schedule F.
00
26
26
Personal service income or reasonable allowance for compensation of partners.
00
27
27
Share of income distributable to a partner subject to replacement tax. Attach Schedule B.
00
28
28
River Edge Redevelopment Zone Dividend subtraction. Attach Schedule 1299-A.
00
29
29
High Impact Business Dividend subtraction. Attach Schedule 1299-A.
00
30
30
Illinois Special Depreciation subtraction. Attach Form IL-4562.
00
31
31
Related-party expenses subtraction. Attach Schedule 80/20.
00
32
32
Distributive share of subtractions. Attach Schedule(s) K-1-P or K-1-T.
00
33
33
Other subtractions. Attach Schedule M (for businesses).
00
34
34
Total subtractions. Add Lines 24 through 33.
00
35
35
Base income or loss. Subtract Line 34 from Line 23.
00
A If the amount on Line 35 is derived inside Illinois only, check this box and enter the amount from Step 5, Line 35
on Step 7, Line 47. You may not complete Step 6. (You must leave Step 6, Lines 36 through 46 blank.)
B If any portion of the amount on Line 35 is derived outside Illinois, check this box and complete all lines of Step 6.
See instructions. (If you are a unitary filer, you must complete Lines 40 through 42.)
Step 6: Figure your income allocable to Illinois
(Complete only if you checked the box on Line B, above.)
36
36
Nonbusiness income or loss. Attach Schedule NB.
00
37
37
Trust, estate, and non-unitary partnership business income or loss included in Line 35.
00
38
38
Add Lines 36 and 37.
00
39
39
Business income or loss. Subtract Line 38 from Line 35.
00
40
40
Total sales everywhere. This amount cannot be negative.
00
41
41
Total sales inside Illinois. This amount cannot be negative.
00
42
42
Apportionment factor. Divide Line 41 by Line 40 (carry to six decimal places).
43
43
Business income or loss apportionable to Illinois. Multiply Line 39 by Line 42.
00
44
44
Nonbusiness income or loss allocable to Illinois. Attach Schedule NB.
00
45
45
Trust, estate, and non-unitary partnership business income or loss apportionable to Illinois.
00
46
46
Base income or loss allocable to Illinois. Add Lines 43 through 45.
00
*432402110*
Page 2 of 5
IL-1065 (R-12/14)
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Parent category: Financial