Schedule K-1-T(2) - Beneficiary'S Instructions (Page 3 of 8) in pdf

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

Nonresidents: Include the total amount from Column B on your

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

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

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

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

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

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

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

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

Step 7 - Your share of pass-through withholding

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

payments and federal income subject to

appreciation amounts —

surcharge —

Column A - Beneficiary’s share —

Enter the

Line 49 - Pass-through withholding payments —

Include the amount on your Form IL-1040, Schedule F, Step 3,

Line 46 -

amount from Line 49 on your Form IL-1040, Step 9, Line 28.

Column H, Line 6.

Pass-through withholding payments made on your behalf

Include the amount on your Form IL-1040, Schedule F, Step 3,

Line 47 -

and reported to you on Schedule K-1-T, Line 49, are based on items of

Column I, Line 6.

business income and certain items of nonbusiness income only. If you

Include the amount on your Form IL-1040, Schedule F, Step 2,

had Illinois income from other sources, and the payments made on

Line 48 -

Line 2.

your behalf do not cover your liability, you must file a return to report

the tax on all of your Illinois income and claim a credit for pass-through

Column B - Illinois Share —

withholding payments made on your behalf.

Add Columns A and B, Lines 46 through 48.

Lines 46 through 48 -

For tax years ending on or after December 31, 2014. See

Line 50 -

Column A

Column B

the Step-by-Step Instructions for Line 50 at the end of these instructions.

Line 46

______________

Line 47

______________

Line 48

______________

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 19, from the amount on Step 4,

business income or loss —

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

Follow the Steps 3 and 4 instructions to determine the amounts

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

to include on your Form IL-1041, Schedule NR or Schedule CR.

Nonbusiness dividends are not taxed by Illinois.

Dividend income -

Column A - Beneficiary’s share —

Step 3, Line 10, Column B, should be “0.” If the Schedule K-1-T you

received shows an amount in Column B of this line, you should notify the

Make sure the amounts reported on these lines

Lines 9 through 29 -

match your federal Schedule K-1.

partnership or S corporation who issued you the schedule and ask for a

corrected Schedule K-1-T.

Column B - Illinois share —

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

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

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

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

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

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

Line 2.

following information allows you to determine the amount to include

on specific lines of your Form IL-1041.

Residents claiming credit for taxes paid in other states:

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

Use the following instructions in order to include the income

on Step 4, Column A, Line 20, and include the result on your

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

Form IL-1041, Schedule CR, Step 2, Column C, Line 2.

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

CR, Step 2, Lines 1 through 23.

Income or loss from trusts and estates -

Enter the amounts from Steps 3 and 4 from both Columns A and B

Nonbusiness interest is not taxed by Illinois.

Interest income -

for each line item, and add all amounts for each column.

Step 3, Column B, Line 9, should be “0.” If the Schedule K-1-T you

Column A

Column B

received shows an amount in Column B of this line, you should notify the

Line 11

______________

partnership or S corporation who issued you the schedule and ask for a

Line 12

______________

corrected Schedule K-1-T.

Line 13

______________

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

Line 14

______________

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

Line 25

______________

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

Line 28

______________

Line 1.

______________

Total

Page 3 of 8

Schedule K-1-T(2) (R-12/14)

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

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