The Illinois Department of Revenue's Schedule NR form plays a crucial role for fiduciaries managing nonresident tax computations related to the IL-1041, Fiduciary Income and Replacement Tax Return. This document, specifically designed for the tax year ending 2012, guides fiduciaries through a detailed process beginning with general information such as the fiduciary's name and federal employer identification number (FEIN). Progressing from completing the IL-1041 with resident considerations to determining the Illinois portion of federal taxable income, the form instructions ensure fiduciaries accurately calculate and report income, deductions, and the corresponding tax liability for nonresidents. Furthermore, the schedule delves into additional and subtraction adjustments necessary to align with Illinois tax law, before concluding with determining the standard exemption and business income apportionment factor. Each section, from interest income to payments from retirement plans and federal net operating loss deductions, is meticulously structured to streamline the computation process, ensuring that fiduciaries can effectively ascertain the Illinois taxable income of their nonresident entities.
| Question | Answer |
|---|---|
| Form Name | Il Schedule Nr Form |
| Form Length | 2 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 30 sec |
| Other names | NR, 2012, subtractions, IL-1041 |
Illinois Department of RevenueYear ending
2012 Schedule NR
Nonresident Computation of Fiduciary Income |
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Month Year |
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IL Attachment No. 2 |
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Attach to your Form |
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Step 1: Provide the following information |
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Write your name as shown on your Form |
Write your federal employer identification no. (FEIN). |
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Step 2: Complete Form |
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Complete Lines 1 through 26 of your Form
Step 3: Figure the Illinois portion of your federal taxable income
See instructions for Columns A, B and C for each line item.
Check the box if you are making the |
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A |
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B |
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C |
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Business Income Election. See instructions. |
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U.S. Form 1041 |
Fiduciary’s Share |
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Illinois Portion |
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1 |
Interest income |
1a |
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00 |
1b |
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00 |
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1c |
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00 |
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2 |
Dividends |
2a |
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00 |
2b |
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00 |
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2c |
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00 |
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3 |
Business income or loss |
3a |
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00 |
3b |
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00 |
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3c |
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00 |
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4 |
Gain or loss on sales and exchanges |
4a |
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00 |
4b |
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00 |
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4c |
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00 |
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5 |
Net rent and royalty income |
5a |
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00 |
5b |
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00 |
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5c |
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00 |
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6 |
Income from partnerships and subchapter S corps |
6a |
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00 |
6b |
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00 |
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6c |
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00 |
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7 |
Income from trusts and estates |
7a |
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00 |
7b |
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00 |
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7c |
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00 |
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8 |
Real Estate Mortgage Investment Conduits (REMIC) |
8a |
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00 |
8b |
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00 |
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8c |
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00 |
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9 |
Net farm income or loss |
9a |
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00 |
9b |
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00 |
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9c |
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00 |
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10 |
Business property |
10a |
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00 |
10b |
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00 |
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10c |
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00 |
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11 |
Other income |
11a |
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00 |
11b |
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00 |
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11c |
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00 |
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12 |
Total income. Add Lines 1 through 11. |
12a |
00 |
12b |
00 |
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12c |
00 |
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13 |
Interest expense |
13a |
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00 |
13b |
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00 |
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13c |
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00 |
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14 |
Taxes |
14a |
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00 |
14b |
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00 |
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14c |
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00 |
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15 |
Fiduciary fees |
15a |
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00 |
15b |
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00 |
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15c |
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00 |
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16 |
Charitable deduction |
16a |
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00 |
16b |
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00 |
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16c |
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00 |
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17 |
Attorney, accountant, and preparer fees |
17a |
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00 |
17b |
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00 |
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17c |
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00 |
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18 |
Other deductions (including taxes) |
18a |
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00 |
18b |
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00 |
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18c |
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00 |
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19 |
Add Lines 13 through 18. |
19a |
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00 |
19b |
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00 |
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19c |
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00 |
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20 |
Subtract Line 19 from Line 12. Adjusted total income or loss. |
20a |
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00 |
20b |
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00 |
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20c |
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00 |
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21 |
Income distribution deduction |
21a |
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00 |
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22 |
Subtract Line 21a from Line 20a. See instructions. |
22a |
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00 |
22b |
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00 |
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22c |
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00 |
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23 |
Federal estate tax |
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23b |
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00 |
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23c |
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00 |
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24 |
Exemption |
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24b |
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00 |
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24c |
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00 |
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25 |
Add Lines 23 and 24. |
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25b |
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00 |
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25c |
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00 |
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26 |
Subtract Line 25 from Line 22. This is your taxable income. |
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26b |
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00 |
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26c |
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00 |
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Column B, Line 26, is your federal taxable income as shown on your federal Form 1041, Line 22.
Column C, Line 26, is your Illinois portion of your federal taxable income.
27 Write the amount from Column C, Line 26. |
27 |
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00 |
Step 4: Figure your Illinois additions and subtractions |
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A |
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B |
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In Column A, write the total amounts from your Form |
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Form |
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You must read the instructions for Column B to properly complete this step. |
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Fiduciary Share |
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Illinois Portion |
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28 |
Federal net operating loss deduction (Form |
28a |
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00 |
28b |
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00 |
29 |
ESBT taxable income (Form |
29a |
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00 |
29b |
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00 |
30 |
Exemption claimed on U.S. Form 1041, Line 20 (Form |
30a |
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00 |
30b |
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00 |
31 |
Illinois income and replacement tax deducted (Form |
31a |
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00 |
31b |
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00 |
32 |
State, municipal, and other interest income (Form |
32a |
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00 |
32b |
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00 |
33 |
Illinois Special Depreciation addition (Form |
33a |
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00 |
33b |
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00 |
34 |
34a |
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00 |
34b |
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00 |
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35 |
Distributive share of additions (Form |
35a |
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00 |
35b |
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00 |
36 |
Other additions (Form |
36a |
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00 |
36b |
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00 |
37 |
Add Column B, Lines 27 through 36. This is the Illinois portion of your total income. |
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37 |
00 |
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38 |
August 1, 1969 valuation limitation amount (Form |
38a |
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00 |
38b |
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00 |
39 |
Payments from certain retirement plans (Form |
39a |
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00 |
39b |
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00 |
40Interest income from U.S. Treasury and other exempt
federal obligations (Form |
40a |
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00 |
40b |
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00 |
41 Retirement payments to retired partners (Form |
41a |
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00 |
41b |
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00 |
42Enterprise Zone or River Edge Redevelopment Zone
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Dividend subtraction (Form |
42a |
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00 |
42b |
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00 |
43 |
High Impact Business Dividend subtraction (Form |
43a |
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00 |
43b |
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00 |
44 |
Contributions to certain job training projects (Form |
44a |
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00 |
44b |
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00 |
45 |
Illinois Special Depreciation subtraction (Form |
45a |
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00 |
45b |
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00 |
46 |
46a |
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00 |
46b |
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00 |
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47 |
Distributive share of subtractions (Form |
47a |
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00 |
47b |
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00 |
48 |
ESBT loss amount (Form |
48a |
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00 |
48b |
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00 |
49 |
Other subtractions (Form |
49a |
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00 |
49b |
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00 |
50 |
Add Column B, Lines 38 through 49. This is the total of your Illinois subtractions. |
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50 |
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Step 5: Figure your standard exemption
51Illinois base income or net loss. Subtract Line 50 from Line 37.
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Write this amount on your Form |
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51 |
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If Line 51 is zero or a negative number, skip Lines 52 and 53, and write “0” on Line 54. |
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52 |
Write the base income from Form |
52 |
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If Line 52 is zero, or a negative number, skip Line 53 and write $1,000 on Line 54. |
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53 |
Divide Line 51 by Line 52. This figure cannot be greater than “1.” |
53 |
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54Standard exemption. Multiply Line 53 by $1,000.
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Write this amount on your Form |
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54 |
00 |
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Step 6: Figure your business income apportionment factor |
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1 |
Total sales everywhere. This amount cannot be negative. |
1 |
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2 |
Total sales inside Illinois. This amount cannot be negative. |
2 |
00 |
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3 |
Divide Line 2 by Line 1. (Carry to six decimal places.) This is your apportionment factor. |
3 |
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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.