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Illinois Department of Revenue Partner’s or Shareholder’s Share of Income, Schedule K-1-P Deductions, Credits, and Recapture

To be completed by partnerships ﬁling Form IL-1065 or S corporations ﬁling Form IL-1120-ST

Partners and Shareholders receiving Schedule K-1-P should attach this to their Illinois tax return.

Year ending

____ ____

Month Year

IL Attachment No. 10

Step 1: Identify your partnership or S corporation

1Check your business type

partnership

S corporation 3 ____ ____ - ____ ____ ____ ____ ____ ____ ____

Write your federal employer identiﬁcation number (FEIN).

2___________________________________________________ 4 Write the apportionment factor from Form IL-1065 or Form

Write your name as shown on your Form IL-1065 or Form IL-1120-ST. IL-1120-ST, Line 42. Otherwise, write “1.” _________________

Step 2: Identify your partner or shareholder

5	___________________________________________________	7	_____________________________________________________
	Name		Social Security number or FEIN
6	___________________________________________________	8	_________________________
	Mailing address		Share (%)

___________________________________________________ 9a Check the appropriate box. See instructions.

City	State	ZIP	individual	corporation
			individual	corporation
			partnership	S corporation
			9b To be completed by the recipient on Line 5 only.

trust estate

I am a:

grantor trust

disregarded entity

and the amounts on this Schedule will be reported by:

Name:_______________________________________________

SSN or FEIN: ________________________________________

Step 3: Figure your partner’s or shareholder’s share of your nonbusiness income

			A	B
			Member’s share	Member’s share
			(See instructions.)	allocable to Illinois
10	Interest	10	_________________________	_________________________
11	Dividends	11	_________________________	_________________________
12	Rental income	12	_________________________	_________________________
13	Patent royalties	13	_________________________	_________________________
14	Copyright royalties	14	_________________________	_________________________
15	Other royalty income	15	_________________________	_________________________
16	Capital gain or loss from real property	16	_________________________	_________________________
17	Capital gain or loss from tangible personal property	17	_________________________	_________________________
18	Capital gain or loss from intangible personal property	18	_________________________	_________________________
19	Other income and expense ____________________________	19	_________________________	_________________________
	Specify

Step 4: Figure your partner’s or shareholder’s share of your business income (loss)

			A	B
			Member’s share
			from U.S. Schedule K-1,	Member’s share
			less nonbusiness income	apportioned to Illinois
20	Ordinary income (loss) from trade or business activity	20	_________________________	_________________________
21	Net income (loss) from rental real estate activities	21	_________________________	_________________________
22	Net income (loss) from other rental activities	22	_________________________	_________________________
23	Interest	23	_________________________	_________________________
24	Dividends	24	_________________________	_________________________
25	Royalties	25	_________________________	_________________________
26	Net short-term capital gain (loss)	26	_________________________	_________________________
27	Net long-term capital gain (loss). Total for year.	27	_________________________	_________________________
28	Unrecaptured Section 1250 gain	28	_________________________	_________________________
29	Guaranteed payments to partner (U.S. Form 1065 only)	29	_________________________	_________________________
30	Net Section 1231 gain (loss) (other than casualty or theft).
	Total for year.	30	_________________________	_________________________
31	Other income and expense ____________________________	31	_________________________	_________________________
	Specify

Schedule K-1-P Front (R-12/12)

This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this information is REQUIRED. Failure to provide this information could result in a penalty.

	Write the partner’s or shareholder’s identiﬁcation number from Line 7.			___________________
Step 5: Figure your partner’s or shareholder’s share of Illinois additions and subtractions
			A	B
			Member’s share from	Member’s share
			Member’s share from	apportioned or
	Additions		Form IL-1065 or IL-1120-ST	allocated to Illinois
32	Federally tax-exempt interest income	32	_________________________	_________________________
33	Illinois replacement tax deducted	33	_________________________	_________________________
34	Illinois Special Depreciation addition	34	_________________________	_________________________
35	Related-Party Expenses addition	35	_________________________	_________________________
36	Distributive share of additions	36	_________________________	_________________________
37	Other additions (from Illinois Schedule M for businesses)	37	_________________________	_________________________
	Subtractions
38	a Interest from U.S. Treasury obligations (business income)	38a _________________________		_________________________
	b Interest from U.S. Treasury obligations (nonbusiness income)	38b_________________________		_________________________
39	a Enterprise Zone Dividend Subtraction	39a _________________________		_________________________
	b River Edge Redevelopment Zone Dividend Subtraction	39b_________________________		_________________________
40	High Impact Business Dividend subtraction	40	_________________________	_________________________
41	Contribution subtraction (Form IL-1120-ST ﬁlers only)	41	_________________________	_________________________

42Form IL-1120-ST ﬁnancial organizations only:

	a Enterprise Zone Interest Subtraction	42a _________________________		_________________________
	b River Edge Redevelopment Zone Interest Subtraction	42b_________________________		_________________________
43	Interest subtraction - High Impact Business within a Foreign
	Trade Zone (Form IL-1120-ST ﬁnancial organizations only)	43	_________________________	_________________________
44	Illinois Special Depreciation subtraction	44	_________________________	_________________________
45	Related-Party Expenses subtraction	45	_________________________	_________________________
46	Distributive share of subtractions	46	_________________________	_________________________
47	Other subtractions (from Illinois Schedule M for businesses)	47	_________________________	_________________________

Step 6: Figure your partner’s or shareholder’s (except a corporate partner or shareholder) share of your Illinois August 1, 1969, appreciation amounts

			A	B
			Member’s share	Member’s share
			from Illinois Schedule F	apportioned or
			(Form IL-1065 or IL-1120-ST)	allocated to Illinois
48	Section 1245 and 1250 gain	48	_________________________	_________________________
49	Section 1231 gain	49	_________________________	_________________________
50	Section 1231 gain less casualty and theft gain. See instructions.	50	_________________________	_________________________
51	Capital gain	51	_________________________	_________________________

Step 7: Figure your partner’s or shareholder’s share of your Illinois credits, recapture, and pass-through entity payments

	Member’s or nonresident
	member’s share from
52 Illinois credits	Illinois tax return
a Film Production Services Tax Credit	52a __________________
b Enterprise Zone Investment Credit	52b __________________

cRiver Edge Redevelopment

Zone Investment Credit

52c __________________

dTax Credit for Affordable

	Housing Donations	52d	__________________
e EDGE Tax Credit		52e	__________________
f	Research and Development Credit	52f	__________________
g	Ex-felons Jobs Credit	5 2g __________________
h	Veterans Jobs Credit	52h	__________________

iStudent-Assistance

	Contribution Credit	52i	__________________
j	Angel Investment Credit	52j	__________________
k	New Markets Credit	52k	__________________
l	River Edge Historic
	Preservation Credit	52l	__________________

		Member’s or nonresident
		member’s share from
52 Illinois credits (cont.)		Illinois tax return
m Live Theater Production Credit	52m	_____________________
n Hospital Credit	52n	_____________________
o Historic Preservation Credit	52o	_____________________

pReplacement Tax Investment

Credits. See instructions.

52p _____________________

53 Recapture

aEnterprise Zone or River Edge Redevelopment Zone

Investment Credit

53a _____________________

bReplacement Tax Investment

Credit recapture

53b _____________________

54Payments (See instructions.)

a Pass-through entity payment.	54a _____________________
b Composite return payment.	54b _____________________
	Schedule K-1-P Back (R-12/12)

Question	Answer
Form Name	Schedule K 1 P Form
Form Length	2 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	30 sec
Other names	illinois k 1, nonbusiness, IL-1065, illinois schedule k 1 p

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