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

Column B - Illinois Share —

Column B - Illinois share —

Lines 30 through 46 (excluding Line 36a) -

Add any

Use the information in Column B when completing Step 6 of the

nonbusiness amounts from Column B, Lines 32 through 46. Include

Schedule K-1-P for your partners or shareholders.

this total amount on your Form IL-1065 or Form IL-1120-ST, Step 6 ,

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

Line 44.

through entity payments

Add any business amounts from Column B, Lines 32 through 45

Line 50 - Pass-through entity payments —

If the trust or estate

excluding Line 36b

). Include this amount on your Form IL-1065 or

(

made income tax payments on your behalf, write the amount from Line

Form IL-1120-ST, Step 6, Line 45.

50 on your

Use the information in Column A when completing Step 6 of the

•

Form IL-1065, Step 9, Line 59c,

Schedule K-1-P for your partners or shareholders.

•

Form IL-1120-ST, Step 9, Line 57c.

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

Pass-through entity payments made on your behalf on

appreciation amounts —

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

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

Column A - Member’s share —

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

Include this amount on your Schedule F, Column K, Line 2.

Line 47 -

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

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

Include this amount on your Schedule F, Column L, Line 2.

Line 48 -

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

Include this amount on your Schedule F, Column M, Line 2.

Line 49 -

payments made on your behalf.

Step-by-Step Instructions

for corporations filing Form IL-1120

Steps 3 and 4 - Your share of nonbusiness and

Include the amount from Line 39a on your Form IL-1120,

Lines 39a -

business income —

Schedule 1299-B, Step 2, Line 14.

Column A - Beneficiary’s share —

Include the amount from Line 39b on your Form IL-1120,

Lines 39b -

Schedule 1299-B, Step 2, Line 17.

The amounts reported on Lines 9 through 29

Lines 9 through 29 -

Include the amount from Line 40 on your Form IL-1120,

must match your federal Schedule K-1.

Lines 40 -

Schedule 1299-B, Step 2, Line 21.

Column B - Illinois share —

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

income allocated to Illinois. Step 4 represents your share of the trust’s or

Lines 30 through 46 (excluding Line 36a

)

- Add any nonbusiness

estate’s business income apportioned to Illinois. The following information

amounts from Column B, Lines 30 through 46. Include this total amount

allows you to determine the amount to include on specific lines of your

on your Form IL-1120, Step 4, Line 32.

Form IL-1120.

Add any business amounts from Lines 30 through 46 (excluding

Include the amounts in Step 3, Column B in the total amount you report on

Line 36b), Column B. Include this amount on your Form IL-1120, Step 4,

your Forms IL-1120, Step 4, Line 32.

Line 33.

Include the amounts in Step 4, Column B in the total amount you report on

your Form IL-1120, Step 4, Line 33.

Figure your beneficiary’s share of pass-through

entity payments

Step 5 - Your share of Illinois additions and

subtractions —

Line 50 - Pass-through entity payments —

Write the amount

from Line 50 on your Form IL-1120, Step 8, Line 55d.

Column A - Member’s share of additions —

Lines 30 through 35 -

The amounts on these lines are reported in

Pass-through entity payments made on your behalf on

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

your Illinois base income by including them on your Form IL-1120,

Step 2, Line 7.

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

Lines 36a, 36b, and 41 through 46 -

The amounts on these lines

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

are reported in your Illinois base income by including the total of these

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

lines on your Form IL-1120, Step 3, Line 20.

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

payments made on your behalf.

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

Page 6 of 6

Schedule K-1-T(2) - Beneficiary'S Instructions Page 6

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