Schedule K-1-T(2) - Beneficiary'S Instructions (Page 3 of 6) in pdf

Nonresidents: Include the total amount from Column B as a subtraction

Residents claiming credit for taxes paid in other states: Subtract the

on your Form IL-1040, Schedule NR, Step 4, Column B, Line 44.

total amount in Column B from the total amount in Column A, and write the

result on your Form IL-1040, Schedule CR, Step 3, Column B, Line 39.

Residents claiming taxes paid in other states: Subtract the total amount

Step 6 - Your share of the Illinois August 1, 1969,

in Column B, from the total amount in Column A and include the result on

your Form IL-1040, Schedule CR, Step 3, Column B, Line 39.

appreciation amounts —

Step 7 - Figure your beneficiary’s share of pass-

Column A - Beneficiary’s share —

through entity payments

Include this amount on your Schedule F, Step 3, Column H,

Line 47 -

Line 50 - Pass-through entity payments —

Line 6.

Write the amount

from Line 50 on your Form IL-1040, Step 9, Line 27.

Include this amount on your Schedule F, Step 3, Column I,

Line 48 -

Pass-through entity payments made on your behalf on

Line 6.

Form IL-1000 and reported to you on Schedule K-1-T, Line 50, are

Include this amount on your Schedule F, Step 2, Line 2.

Line 49 -

based on items of business income only. If amounts are reported on

Schedule K-1-T, Step 3, Column B, Lines 11-18, or you had Illinois

Column B - Illinois Share —

Income from other sources, and the payments made on your behalf

Add Columns A and B, Lines 47 through 49.

Lines 47 through 49 -

do not cover your liability, you must file a return to report the tax on

Column A

Column B

all of your Illinois income and claim a credit for pass-through entity

Line 47

______________

payments made on your behalf.

Line 48

______________

Line 49

______________

Total

Step-by-Step Instructions

for trusts or estates filing Form IL-1041

Residents claiming credit for taxes paid in other states: Subtract

Steps 3 and 4 - Your share of nonbusiness and

the amount on Step 4, Column B, Line 20, from the amount on Step

business income —

4, Column A, Line 20, and include the result on your Form IL-1041,

Column A - Beneficiary’s share —

Schedule CR, Step 2, Column C, Line 2.

Lines 9 through 29 -

Make sure the amounts reported on these lines

Income or loss from trusts and estates -

match your federal Schedule K-1.

Write the amounts from Steps 3 and 4, Columns A and B, for each

Column B - Illinois share —

line item and add all amounts for each column.

Step 3 represents your share of the trust’s or estate’s nonbusiness

Column A

Column B

income allocated to Illinois. Step 4 represents your share of the

Line 11

______________

Line 12

______________

trust’s or estate’s business income apportioned to Illinois. The

following information allows you to determine the amount to include

Line 13

______________

on specific lines of your Form IL-1041.

Line 14

______________

Line 25

______________

Use the following instructions in order to include the income

reported in Steps 3 and 4 of Schedule K-1-T, on your Form IL-1041,

Line 28

______________

Schedule NR, Step 3, Lines 1 through 26, and Form IL-1041, Schedule

______________

Total

CR, Step 2, Lines 1 through 23.

Nonresidents: Include this total amount from Column B, to the extent

Nonbusiness interest is not taxed by Illinois.

Interest income -

it was not distributed or deemed distributed to a beneficiary on your

Step 3, Column B, Line 9, should be “0.”

Form IL-1041, Schedule NR, Step 3, Column C, Line 7.

Nonresidents: Include the amount of business interest from Step 4,

Residents claiming credit for taxes paid in other states: Subtract

Column B, Line 19, that was not distributed or deemed distributed to

the total amount in, Column B, from the total amount in Column A,

a beneficiary on your Form IL-1041, Schedule NR, Step 3, Column C,

and include the result on your Form IL-1041, Schedule CR, Step 2,

Line 1.

Column C, Line 7.

Residents claiming credit for taxes paid in other states: Subtract

Nonbusiness gain or loss -

Add Step 3, Columns A and B for

the amount on Step 4, Column B, Line 19, from the amount on Step

each line item and add all amounts for each column.

4, Column A, Line 19, and include the result on your Form IL-1041,

Column A

Column B

Schedule CR, Step 2, Column B, Line 1.

Line 15

______________

Nonbusiness dividends are not taxed by Illinois.

Dividend income -

Line 16

______________

Step 3, Line 10, Column B, should be “0.”

Line 17

______________

Nonresidents: Include the amount of business dividends from Step

______________

Total

4, Column B, Line 20, that was not distributed or deemed distributed

Nonresidents: Include this total amount from Column B to the extent

to a beneficiary on your Form IL-1041, Schedule NR, Step 3, Column

it was not distributed or deemed distributed to a beneficiary on your

C, Line 2.

Form IL-1041, Schedule NR, Step 3, Column C, Line 4.

Schedule K-1-T(2) (R-12/12)

Page 3 of 6

Schedule K-1-T(2) - Beneficiary'S Instructions Page 3

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