Enlarge image | ILLINOIS DEPARTMENT OF REVENUE DRAFT FORM Note: The draft you are looking for begins on the next page. Caution: DRAFT—NOT FOR FILING This is an early release draft of an Illinois Department of Revenue (IDOR) tax form or instructions, which IDOR is providing for substitute forms providers. Do not file draft forms and do not rely on draft forms and instructions for filing. We incorporate all significant changes to forms posted with this coversheet. However, unexpected issues occasionally arise, or legislation is passed—in this case, we will post a new draft of the form to alert users that changes were made to the previously posted draft. All forms and instructions have a page on our website at Tax Forms (illinois.gov) where you may see the final versions once they are released. Year-end income tax forms are usually released towards the end of January. If you wish, you can submit comments and questions to IDOR about draft or final forms and instructions at REV.VendorForms@illinois.gov. We will forward this information to the Office of Publications Management, where forms and publications are administered. IDR-1-DIS (N-08/23) Printed by authority of State of Illinois, web only – one copy. |
Enlarge image | Illinois Department of Revenue *78312231V* 2023 Schedule K-1-T(3) Pass-through Withholding Calculation for Nonresident Members Year ending To be completed by trusts or estates filing Form IL-1041. _____ _____ Month Year Read this information first: • For tax years ending on or after December 31, 2023, and before December 31, 2024. • You must complete Schedule K-1-T(3) for each of your nonresident beneficiaries who have not submitted a Form IL-1000-E to you. • Do not complete Schedule K-1-T(3) for any member who is a resident or who has submitted Form IL-1000-E to you. Keep this schedule with your income tax records. You must send us this information if we request it. Step 1: Identify your trust 1 ___________________________________________________ 2 ____ ____ - ____ ____ ____ ____ ____ ____ ____ Enter your name as shown on your Form IL-1041. Enter your federal employer identification number (FEIN). Step 2: Identify your nonresident beneficiary TENTATIVE FINAL 3 ___________________________________________________ 4 _____________________________________________________ Name Social Security number or FEIN 5 Check the appropriate box to identify this nonresident beneficiary’s organization type. individual corporation trust partnership S corporation estate Step 3: Figure your nonresident beneficiary’s pass-through withholding If this member is a resident or has submitted Form IL-1000-E to you, do not complete this schedule for this member. 6 Add the amounts from this member’s Schedule K-1-T, Step 3, Column B, Lines 11 through 16 and 18 and enter the total here. This is your member’s share of nonbusiness income allocable to Illinois before modifications and credits. See instructions before completing. 6 7 Add the amounts from this member’s Schedule K-1-T, Step 4, Column B, Lines 19 through 22, 25, 28, and 29 and enter the total here. This is your member’s share of business income allocable to Illinois before modifications and credits. See instructions before completing. 7 8 Add Line 6 and Line 7 and enter the result. 8 9 Add the amounts from this member’s Schedule K-1-T, Column B, Lines 30 through 35 and enter the total here. This is your member’s share of additions allocable to Illinois. 9 10 Add Line 8 and Line 9 and enter the result. 10 11 Add the amounts from this member’s Schedule K-1-T, Column B, Lines 36a through 45 and enter the total here. If this member is an individual, partnership, trust, or estate and received Illinois August 1, 1969, appreciation amounts from you, see instructions. This is your member’s share of subtractions allocable to Illinois. 11 12 Subtract Line 11 from Line 10. If negative, enter zero. This is your member’s share of Illinois income subject to pass-through withholding. See instructions. 12 13 Figure this member’s pass-through withholding. See instructions. This is your member’s total pass-through withholding. Report this amount on this member’s Schedule K-1-T, Step 7, Line 49. You must also report this amount on your Form IL-1041, Schedule D, Section B, Line G, on the line which reports this member’s amounts. 13 Keep a copy of this schedule for each member with your income tax records. Do not send Schedule K-1-T(3) to your members or submit it to the Illinois Department of Revenue unless we specifically request it from you. 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. Printed by the authority of the State of Illinois - electronic only - one copy. Schedule K-1-T(3) (R-12/23) |