Form Il 1041 X PDF Details

The Il 1041 X form is a critical document for fiduciaries in Illinois looking to amend previously filed income and replacement tax returns for tax years ending on or after December 31, 2013. This form, authorized by the Illinois Department of Revenue, requires fiduciaries to meticulously report both original and amended data, ensuring accuracy in adjusted income, deductions, and credits. Notable features of this form include various schedules and attachments that may need to be included, such as Schedule 1299-D, Schedule I, Form IL-4562, Schedule M, and Schedule 80/20, each catering to specific adjustments or tax scenarios. From indicating a fiduciary's status changes, such as address or name changes, to detailing adjustments in income, losses, or deductions through a series of steps, the form is designed to navigate fiduciaries through the complex process of amending a tax return. Additionally, the form takes into account various types of adjustments including discharge of indebtedness, special depreciation, and investment credits, among others. It equally addresses the needs of different fiduciary entities like trusts, estates, and bankruptcy estates, making it a comprehensive tool for correcting or updating tax information. The final sections of the form guide fiduciaries in calculating their revised tax responsibilities, considering payments already made and determining the balance due or refund owed, thereby culminating in a detailed and structured approach to tax amendment.

QuestionAnswer
Form NameForm Il 1041 X
Form Length4 pages
Fillable?No
Fillable fields0
Avg. time to fill out1 min
Other namesIL 1041 X 2011 il 1041 x form

Form Preview Example

Check this box if Schedule 1299-D is attached. Check this box if Schedule I is attached. Check this box if you attached Form IL-4562. Check this box if you attached Schedule M. Check this box if Schedule 80/20 is attached.

Illinois Department of Revenue

Amended Fiduciary

2013 IL-1041-X

Income and Replacement

For tax years ending on or after December 31, 2013

Tax Return

Indicate what tax year you are amending: Tax year beginning

 

 

, ending

 

 

 

month

 

day

 

year

 

month

 

day

 

year

If you are filing an amended return for tax years ending before December 31, 2013, you cannot use this form. For prior years, use the amended return form for that year.

Write the amount you are paying.

$

Step 1: Identify your fiduciary

A Check the box that identifies your fiduciary.

Trust

Estate

BWrite your complete legal business name.

If you have a name change, check this box.

Name:

CWrite your mailing address.

If you have an address change, check this box.

C/O:

Mailing address:

City:

 

State:

 

ZIP:

DCheck the applicable box for the type of change being made.

NLD

State change

Federal change

If a federal change, check one:

Partial agreed

Finalized

Write the finalization date

 

 

 

Attach federal finalization.

ECheck this box if you are filing this form only to report an increased

net loss on Line 29, Column B.

FWrite your federal employer identification no. (FEIN).

GCheck the box if you are an

Electing small business trust (ESBT)

Individual bankruptcy estate

HCheck this box if you are not an Illinois resident

and attach Illinois Schedule NR.

I

J

K

L

M

NIf you have completed federal Form 8886,

check this box and attach it to this return.

OCheck this box if you are making a discharge of indebtedness adjustment on Line 28 or

Schedule NLD and attach federal Form 982.

your payment and

IL-1041-X-V here.

Attach

Form

Step 2: Explain the changes on this return

Step 3: Figure your income or loss

A

 

As most recently

 

reported or adjusted

BeneficiariesFiduciary

B

Corrected

amount

BeneficiariesFiduciary

1

Federal taxable income from

 

 

 

 

 

 

 

U.S. Form 1041, Line 22.

1

00

1

00

2

Federal net operating loss deduction

 

 

 

 

 

 

 

from U.S. Form 1041, Line 15b.

 

 

 

 

 

 

 

This amount cannot be negative.

2

 

00

2

 

00

3

Taxable income of ESBT, if required.

3

 

00

3

 

00

4

Exemption claimed on U.S. Form 1041.

4

 

00

4

 

00

5Illinois income and replacement tax

deducted in arriving at Line 1.

5a

00 5b

00 5a

00 5b

00

6State, municipal, and other interest

income excluded from Line 1.

6a

00 6b

00 6a

00 6b

00

7Illinois Special Depreciation addition

(Form IL-4562).

7a

00 7b

00 7a

00 7b

00

8Related-party expenses addition

(Schedule 80/20).

8a

00 8b

00 8a

00 8b

00

9Distributive share of additions

(Schedule(s) K-1-P or K-1-T).

9a

 

00 9b

 

00 9a

 

00 9b

 

00

10Other additions

(Schedule M for businesses).

10a

0010b

00 10a

00 10b

00

11Add Lines 1 through 4 and Lines 5b

through 10b. This is your total income or loss.

11

 

00

11

 

00

IL-1041-X (R-12/13)

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.

Page 1 of 4

 

A

 

B

 

 

As most recently

 

Corrected

 

 

reported or adjusted

 

amount

 

 

Beneficiaries

 

Fiduciary

Beneficiaries

 

 

Fiduciary

12 Write the amounts from Line 11.

12

 

00

12

 

 

00

Step 4: Figure your base income or loss

13August 1, 1969, valuation limitation

amount (Schedule F).

13a

00 13b

00 13a

00 13b

00

14Payments from certain retirement

plans.

14a

00 14b

00 14a

00 14b

00

15Interest income from U.S. Treasury

and other exempt federal obligations. 15a

00 15b

00 15a

00 15b

00

16Retirement payments to retired

partners.

16a

00 16b

00 16a

00 16b

00

17River Edge Redevelopment Zone Dividend subtraction

(Schedule 1299-B).

17a

00 17b

00 17a

00 17b

00

18High Impact Business Dividend

subtraction (Schedule 1299-B).

18a

00 18b

00 18a

00 18b

00

19Contributions to certain job training

projects. See instructions.

19a

00 19b

00 19a

00 19b

00

20Illinois Special Depreciation

subtraction (Form IL-4562).

20a

00 20b

00 20a

00 20b

00

21Related-party expenses

subtraction (Schedule 80/20).

21a

00 21b

00 21a

00 21b

00

22Distributive share of subtractions

 

(Schedule(s) K-1-P or K-1-T).

22a

00 22b

00 22a

00 22b

00

23

ESBT loss amount.

23a

00 23b

00 23a

00 23b

00

24

Other subtractions (Schedule M).

24a

00 24b

00 24a

00 24b

00

25Total subtractions.

Add Lines 13b through 24b.

See instructions.

25

00

25

00

26 Base income or loss.

 

 

 

 

Subtract Line 25 from Line 12.

26

00

26

00

If you are a nonresident of Illinois, complete Schedule NR; otherwise continue to Step 5.

Step 5: Figure your net income

27Base income or net loss from Line 26 or,

 

if you are a nonresident, from Schedule NR, Line 51.

27

 

00

27

 

00

28

Discharge of indebtedness adjustment (U.S. Form 982).

28

 

00

28

00

 

 

 

 

 

 

 

 

29

Adjusted base income or net loss. Add Lines 27 and 28.

29

 

00

29

00

 

 

 

 

 

 

 

 

30Illinois net loss deduction (Schedule NLD).

If Line 29 is zero or a negative amount, write “0.”

30

 

00

30

00

 

 

 

 

 

 

 

31Standard exemption. Residents only: Write $1,000.

Nonresidents only: Write the amount from Sch. NR, Line 54.

31

 

00

31

00

 

 

 

 

 

 

 

32 Add Lines 30 and 31.

32

 

00

32

00

 

 

 

 

 

 

 

33Net income. Subtract Line 32 from Line 29.

If the amount is negative, write “0”.

33

 

00

33

00

 

 

 

 

 

 

 

Step 6: Figure your net replacement tax — For trusts only, estates go to Step 7.

34

Replacement tax. Multiply Line 33 by 1.5% (.015).

34

 

00

34

00

35

Recapture of investment credits (Schedule 4255).

35

 

00

35

 

00

36

Replacement tax before investment credits. Add Lines 34 and 35.

36

 

00

36

00

37

Investment credits (Form IL-477).

37

 

00

37

 

00

38Net replacement tax. Subtract Line 37 from Line 36.

If negative, write “0”.

38

00

38

00

Page 2 of 4

IL-1041-X (R-12/13)

 

 

 

A

 

B

 

 

 

As most recently

 

Corrected

 

 

 

reported or adjusted

 

amount

 

 

 

Fiduciary

 

Fiduciary

39

Write the amounts of net income from Line 33.

39

 

00

39

 

00

Step 7: Figure your net income tax — For trusts and estates

 

 

 

40

Income tax. Multiply Line 39 by 5% (.05).

40

 

00

40

 

00

41

Recapture of investment credits (Schedule 4255).

41

 

00

41

 

00

42

Income tax before credits. Add Lines 40 and 41.

42

 

00

42

 

00

43Credit for income tax paid to another state while an

 

Illinois resident (Schedule CR).

43

 

00

43

 

00

44

Income tax credits (Schedule 1299-D).

44

 

00

44

 

00

45

Total credits. Add Lines 43 and 44.

45

 

00

45

 

00

46Net income tax. Subtract Line 45 from Line 42.

 

If negative, write “0.”

46

00

46

00

 

 

 

 

 

 

 

Step 8: Figure your refund or balance due

 

 

 

 

 

 

47

Trusts only: net replacement tax from Line 38.

47

 

00

47

 

00

48

Net income tax from Line 46.

48

 

00

48

 

00

49Compassionate Use of Medical Cannabis Pilot Program Act

Surcharge. See instructions.

49

00

49

00

50Total net income and replacement taxes and surcharge.

Add Lines 47, 48, and 49.

50

 

00

50

 

00

51Payments

 

a

Illinois Income Tax withheld (Form(s) W-2 or W-2G).

51a

 

00

 

 

 

b

Credit from prior year overpayment.

51b

 

00

 

 

 

c

Form IL-505-B (extension) payment.

51c

 

00

 

 

 

d

Pass-through entity payments (Schedule(s) K-1-P or K-1-T). 51d

 

00

 

 

52

Total payments. Add Lines 51a through 51d.

 

52

 

00

53

Tax paid with original return (do not include penalties and interest).

53

 

00

54

Subsequent tax payments made since the original return.

 

54

 

00

55

Total tax paid. Add Lines 52, 53, and 54.

 

55

 

00

56Total amount previously refunded and/or credited for the year being amended,

 

whether or not you received the overpayment.

56

 

00

57

Net tax paid. Subtract Line 56 from Line 55.

57

 

00

58

Refund. If Line 57 is greater than Line 50, subtract Line 50 from Line 57.

58

 

00

59

Tax due. If Line 50 is greater than Line 57, subtract Line 57 from Line 50.

59

 

00

60

Penalty (See instructions.)

60

 

00

61

Interest (See instructions.)

61

 

00

62

Total balance due. Add Lines 59 through 61.

62

 

00

If you owe tax on Line 62, complete a payment voucher, Form IL-1041-X-V, make your check payable to “Illinois Department of Revenue” and attach them to the first page of this form.

Write the amount of your payment on the top of Page 1 in the space provided.

Step 9: Sign here

Under penalties of perjury, I state that I have examined this return and, to the best of my knowledge, it is true, correct, and complete.

 

 

 

 

 

 

 

 

 

(

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Signature of fiduciary

 

Date

 

 

 

 

 

 

Title

 

Phone

 

 

 

 

 

 

 

 

 

 

Signature of preparer

 

Date

 

 

 

 

 

Preparer’s Social Security number or firm’s FEIN

 

 

 

 

 

 

 

 

 

 

 

Preparer’s firm name (or yours, if self-employed)

 

Address

 

 

 

Check this box if we may discuss this return with the preparer shown in this step.

()

Phone

Mail this return to: Illinois Department of Revenue, P.O. Box 19016, Springfield, IL 62794-9016

IL-1041-X (R-12/13)

Page 3 of 4

Illinois Department of Revenue

 

Year ending

Schedule D Beneficiary Information

 

 

 

 

 

 

Month Year

Attach to your Form IL-1041.

IL Attachment no. 1

 

Write your name as shown on your Form IL-1041.

Write your federal employer identification number (FEIN).

Step 1: Provide the following information

1

Write the amount from your Form IL-1041, Line 27.

1

 

 

 

 

2

Write the apportionment factor from your Form IL-1041, Schedule NR, Step 6, Line 3.

2

 

 

 

 

 

 

 

 

 

 

 

Step 2: Identify your beneficiaries. Attach additional sheets if necessary.

A

B

C

D

E

F

G

 

 

 

Beneficiary’s

Check the box if

Pass-through

Excluded from

 

 

 

amount of base

the beneficiary

entity payment

pass-through

 

 

Beneficiary type

income or loss

is an Illinois

amount

entity payments

Name and Address

SSN or FEIN

(See instructions.)

(See instr.)

nonresident

(See instr.)

(See instr.)

1

2

3

4

5

6

7Add the amounts shown in Column D for nonresident beneficiaries for which you have entered a check mark

in Column E. Write the total here. (See instructions.)

7

 

 

Page 4 of 4

 

 

ScheduleIL-1041D-X(R(R-12/13)-12/13)

How to Edit Form Il 1041 X Online for Free

In case you desire to fill out Form Il 1041 X, you won't need to install any sort of programs - simply try using our online tool. Our editor is constantly evolving to grant the very best user experience attainable, and that's thanks to our dedication to constant development and listening closely to feedback from customers. With a few easy steps, you can start your PDF editing:

Step 1: Open the PDF file in our editor by pressing the "Get Form Button" above on this webpage.

Step 2: When you start the PDF editor, you will get the document prepared to be filled out. Apart from filling out different blank fields, it's also possible to perform other actions with the PDF, such as adding any words, modifying the original textual content, inserting images, placing your signature to the form, and a lot more.

In order to complete this PDF form, make sure that you provide the right details in every single field:

1. Whenever completing the Form Il 1041 X, be certain to include all needed fields in their corresponding form section. It will help hasten the process, which allows your information to be processed promptly and accurately.

Form Il 1041 X conclusion process explained (portion 1)

2. Once the first part is filled out, go to type in the relevant details in these - net loss on Line Column B, E Check this box if you are filing, Step Explain the changes on this, Step Figure your income or loss, Beneficiaries, As most recently, reported or adjusted, O Check this box if you are making, indebtedness adjustment on Line or, d n a t n e m y a p r u o y h c a, e r e h V X L m r o F, US Form Line, from US Form Line b This amount, Federal taxable income from, and Schedules KP or KT.

Filling in segment 2 in Form Il 1041 X

Always be extremely attentive when filling in O Check this box if you are making and from US Form Line b This amount, since this is where a lot of people make some mistakes.

3. The next section should also be quite easy, Federal taxable income from, Schedule M for businesses, through b This is your total, ILX R, This form is authorized as, and Page of - each one of these blanks needs to be filled out here.

Stage no. 3 for submitting Form Il 1041 X

4. This particular section comes next with the next few fields to consider: Write the amounts from Line, Beneficiaries, reported or adjusted, Fiduciary, Beneficiaries, Corrected amount, Fiduciary, plans, partners, amount Schedule F, and other exempt federal, Zone Dividend subtraction Schedule, Step Figure your base income or, Schedules KP or KT, and subtraction Schedule.

A way to complete Form Il 1041 X step 4

5. Because you draw near to the completion of your document, you will find a couple more things to undertake. Mainly, Step Figure your base income or, Add Lines b through b See, Subtract Line from Line, If you are a nonresident of, Step Figure your net income, Base income or net loss from Line, if you are a nonresident from, Discharge of indebtedness, Adjusted base income or net loss, Illinois net loss deduction, If Line is zero or a negative, Standard exemption, Residents only Write Nonresidents, Add Lines and, and Net income Subtract Line from must be filled in.

If Line  is zero or a negative, if you are a nonresident from, and Step  Figure your net income of Form Il 1041 X

Step 3: Go through all the information you have inserted in the form fields and press the "Done" button. Join FormsPal right now and instantly gain access to Form Il 1041 X, available for download. Every single change you make is conveniently saved , helping you to edit the document further if needed. FormsPal offers secure document tools without data record-keeping or any sort of sharing. Be assured that your data is in good hands here!