Schedule F - Illinois Gains From Sales Or Exchanges Of Property Acquired Before August 1, 1969 Page 2

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Installment Sales
If, on your U.S. Form 1041, Schedule D, U.S. Form 8949, or U.S. Form 4797, you reported gains from an installment sale of property acquired
before August 1, 1969, complete Schedule F for those sales by following the instructions below.
If, for federal tax purposes, you filed U.S. Form 6252 but were not required to file U.S. Form 4797, attach to your Schedule F:
(1) a statement that you were not required to file U.S. Form 4797 and (2) a copy of the U.S. Form 6252 as filed.
Installment sales on or after August 1, 1969
Installment sales before August 1, 1969
Complete Schedule F
Complete Schedule F
Columns A through C –
Follow Schedule F Instructions.
Columns A through I –
Follow Schedule F Instructions.
Column D –
Enter “INST” to indicate installment.
Column J –
Complete the worksheet below and enter in this
column the amount from Column 5 of the worksheet below.
Columns E through J –
Leave blank.
The heading for Column J does not describe this entry.
Column K –
Enter the amount of Section 1245 or 1250 gain from
this sale reported this year on your U.S. Form 4797 or 6252.
Column K through M –
Follow Schedule F Instructions.
Column L –
Enter the amount of Section 1231 gain from this sale
reported this year on your U.S. Form 4797 or 6252.
Column M –
Enter the amount of gain from this sale reported this
year on your U.S. Form 1041, Schedule D, or U.S. Form 8949.
Column J Worksheet
1
2
3
4
5
Column 1 times Column 2 or,
Total gain
Column 3 minus Column 4.
if Column 2 blank, Schedule F,
reported in
If negative, enter zero.
Total gain
Fraction
Column H minus Column I
prior years
Enter this amount in Column J.
a
b
c
d
e
Instructions for Column J Worksheet
Column 4 -
Enter the total gain reported on federal income tax
For each installment sale after July 31, 1969, reported on
Schedule F:
returns in prior years.
Column 5 -
Column 1
- Enter the total federal gain realized on the sale. This is
Subtract Column 4 from Column 3. If the result is
negative, enter zero. Enter the amount here and on Schedule F,
your entire gain and not just the amount of gain reported this year.
Column J.
Column 2 -
Enter the fraction, if any, entered on Schedule F,
Column H.
Column 3 -
If you entered a fraction in Column 2 of this worksheet,
multiply Column 1 by that fraction. If Column 2 is blank, subtract
Column I from Column H on Schedule F and enter the amount in
Column 3.
Reset
Print
*432202110*
This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this
information is REQUIRED. Failure to provide information could result in a penalty.
Schedule F back (IL-1041) (R-12/14)

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