Form Il-1041 - Fiduciary Income And Replacement Tax Return - 2014 Page 2
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1
2
3
4
512
12
Enter the amount of your income or loss from Line 11.
00
A
B
Step 3:
Figure your base income or loss
Beneficiaries
Fiduciary
13
13a
13b
August 1, 1969, valuation limitation amount. Attach Schedule F.
00
00
14
14a
14b
Payments from certain retirement plans. See instructions.
00
00
15
15a
15b
Interest income from U.S. Treasury and other exempt federal obligations.
00
00
16
16a
16b
Retirement payments to retired partners.
00
00
17
River Edge Redevelopment Zone Dividend subtraction.
17a
17b
Attach Schedule 1299-B.
00
00
18
18a
18b
High Impact Business Dividend subtraction. Attach Schedule 1299-B.
00
00
19
19a
19b
Contributions to certain job training projects. See instructions.
00
00
20
20a
20b
Illinois Special Depreciation subtraction. Attach Form IL-4562.
00
00
21
21a
21b
Related-party expenses subtraction. Attach Schedule 80/20.
00
00
22
22a
22b
Distributive share of subtractions. Attach Schedule(s) K-1-P or K-1-T.
00
00
23
23a
23b
ESBT loss amount. See instructions.
00
00
24
24a
24b
Other subtractions. Attach Illinois Schedule M (for businesses).
00
00
25
25
Total subtractions. Add Column B, Lines 13b through 24b.
00
Report Column A, Lines 13a through 24a, on Schedule K-1-T, Step 5.
26
26
Base income or loss. Subtract Line 25 from Line 12.
00
If you are a nonresident of Illinois, complete Schedule NR; otherwise go to Step 4.
Step 4:
Figure your net income
27
27
Base income or net loss from Line 26, or, if a nonresident, from Schedule NR, Line 51.
00
28
28
Discharge of Indebtedness adjustment. Attach federal Form 982. See instructions.
00
29
29
Adjusted base income or net loss. Add Lines 27 and 28.
00
30
Illinois net loss deduction. Attach Schedule NLD.
30
If Line 29 is zero or a negative amount, enter “0.”
00
31
Standard exemption. (Short-year filers, see instructions.)
Residents only: Enter $1,000.
31
Nonresidents only: Enter the amount from Schedule NR, Line 54.
00
32
32
Add Lines 30 and 31.
00
33
Net Income. Subtract Line 32 from Line 29.
33
If the amount is negative, enter “0.”
00
Step 5:
Figure your net replacement tax — For trusts only, estates go to Step 6
34
34
Replacement tax. Multiply Line 33 by 1.5% (.015).
00
35
35
Recapture of investment credits. Attach Schedule 4255.
00
36
36
Replacement tax before investment credits. Add Lines 34 and 35.
00
37
37
Investment credits. Attach Form IL-477.
00
38
38
Net replacement tax. Subtract Line 37 from Line 36. If the amount is negative, enter “0.”
00
*463602110*
This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this
IL-1041 (R-12/14)
information is REQUIRED. Failure to provide information could result in a penalty.
Page 2 of 5
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