Enlarge image | Use your mouse or Tab key to move through the fields. Use your mouse or space bar to enable check boxes. *32212191W* Illinois Department of Revenue Gains from Sales or Exchanges Year ending of Property Acquired Schedule F Month Year Attach to your Form IL-1041 Before August 1, 1969 IL Attachment No. 16 Enter your name as shown on your Form IL-1041. Enter your federal employer identification number (FEIN). You should file this schedule only if you reported gains from the disposition of property acquired before August 1, 1969, as shown on U.S. Form 1041, Schedule D (or U.S. Form 8949, if applicable), and U.S. Form 4797 or U.S. Form 6252. See instructions. You must attach a copy of U.S. Form 1041, Schedule D, and U.S. Form 4797, 6252, or 8949, if filed. A B C D E F G Section 1245 Section Date acquired Date sold Federal gain or 1250 gain 1231 gain Description of property (month/year) (month/year) this year (see instructions) (see instructions) Capital gain 1 a b c d e H I J K L M Subtract Col. I from Col. H Section 1231, 1245, Section 1231, 1245, August 1, 1969, value Federal tax or fraction in and 1250 Gain and 1250 Gain Capital Gain or applicable fraction basis on Col. H times Col. D Enter smaller of Subtract Col. K from Col. J Enter smaller of (see instructions) August 1, 1969 (see instructions) Col. E or Col. J but not more than Col. F Col. G or Col. J a b c d e 2 Enter your share of pre-August 1, 1969, appreciation amounts from partnerships and other trusts and estates. 2 3 Enter the amount from Form IL-4644, Line 18, if required. See instructions. 3 4 Enter the total of Column K here and on Line 7, Column 1. 4 5 Enter the total of Column L here and on Line 8, Column 1. 5 6 Enter the total of Column M here and on Line 9, Column 1. 6 Distribution of Appreciation Amounts Column 1 Column 2 Column 3 Total Beneficiaries Fiduciary 7 Enter the beneficiaries’ share in Column 2 and on Schedule K-1-T, Step 6, Line 46, Column A. Enter the fiduciary’s share in Column 3 and on Line 17 below. 7 8 Enter the beneficiaries’ share in Column 2 and on Schedule K-1-T, Step 6, Line 47, Column A. Enter the fiduciary’s share in Column 3, and if U.S. Form 1041, Schedule D, Line 14, is a gain, enter on Line 11 below. 8 9 Enter the beneficiaries’ share in Column 2 and on Schedule K-1-T, Step 6, Line 48, Column A. Enter the fiduciary’s share in Column 3 and on Line 10 below. 9 Valuation Limitation Amount 10 Enter the amount from Line 9, Column 3. 10 11 Enter the amount from Line 8, Column 3, or zero if U.S. Form 1041, Schedule D, Line 14, (or U.S. Form 1041, Schedule D, Line 11, if U.S. Form 4797 is not used) is blank. 11 12 Add Lines 10 and 11. 12 13 Net capital gain. Enter the amount, if any, from U.S. Form 1041, Schedule D, Line 19, Column 2. 13 14 Enter the amount from Form IL-4644, Line 13, if required. See instructions. 14 15 Subtract Line 14 from Line 13. If Line 14 is equal to or greater than Line 13, enter zero. 15 16 Enter the smaller of Line 12 or Line 15. 16 17 Enter the amount from Line 7, Column 3. 17 18 August 1, 1969, valuation limitation amount. Add Lines 16 and 17. Enter the result here and on Form IL-1041, Line 13, Column B. 18 Schedule F Front (IL-1041) (R-12/19) 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. |
Enlarge image | *32212192W* Installment Sales If, on your U.S. Form 1041, Schedule D, U.S. Form 8949, or U.S. Form 4797, you reported gains from an installment sale of property acquired before August 1, 1969, complete Schedule F for those sales by following the instructions below. If, for federal tax purposes, you filed U.S. Form 6252 but were not required to file U.S. Form 4797, attach to your Schedule F: (1) a statement that you were not required to file U.S. Form 4797 and (2) a copy of the U.S. Form 6252 as filed. Installment sales before August 1, 1969 Installment sales on or after August 1, 1969 Complete Schedule F Complete Schedule F Columns A through C – Follow Schedule F Instructions. Columns A through I – Follow Schedule F Instructions. Column D – Enter “INST” to indicate installment. Column J – Complete the worksheet below and enter in this Columns E through J – Leave blank. column the amount from Column 5 of the worksheet below. Column K – Enter the amount of Section 1245 or 1250 gain from The heading for Column J does not describe this entry. this sale reported this year on your U.S. Form 4797 or 6252. Column K through M – Follow Schedule F Instructions. Column L – Enter the amount of Section 1231 gain from this sale reported this year on your U.S. Form 4797 or 6252. Column M – Enter the amount of gain from this sale reported this year on your U.S. Form 1041, Schedule D, or U.S. Form 8949. Column J Worksheet 1 2 3 4 5 Column 1 times Column 2 or, Total gain Column 3 minus Column 4. if Column 2 blank, Schedule F, reported in If negative, enter zero. Total gain Fraction Column H minus Column I prior years Enter this amount in Column J. a b c d e Instructions for Column J Worksheet For each installment sale after July 31, 1969, reported on Column 4 - Enter the total gain reported on federal income tax Schedule F: returns in prior years. Column 1 - Enter the total federal gain realized on the sale. This is Column 5 - Subtract Column 4 from Column 3. If the result is your entire gain and not just the amount of gain reported this year. negative, enter zero. Enter the amount here and on Schedule F, Column J. Column 2 - Enter the fraction, if any, entered on Schedule F, Column H. Column 3 - If you entered a fraction in Column 2 of this worksheet, multiply Column 1 by that fraction. If Column 2 is blank, subtract Column I from Column H on Schedule F and enter the amount in Column 3. Reset Print Schedule F Back (IL-1041) (R-12/19) Printed by the authority of the state of Illinois - electronic only - one copy. |