Form Il-1120-St - Illinois Small Business Corporation Replacement Tax Return - 1998 Page 2
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1
2Part IA – Ordinary income adjustments –
(See instructions.)
1
1
Ordinary income (loss) from 1998 U.S. Form 1120S, Line 21
____________|____
2
Write the appropriate amounts from 1998 U.S. Form 1120S, Schedule K.
a
2a
Net income (loss) from rental real estate activities from Line 2
____________|____
b
2b
Net income (loss) from other rental activities from Line 3c
____________|____
c
2c
Portfolio income (loss) from Lines 4a through 4f
____________|____
d
Net IRC, Section 1231, gain (loss) from involuntary conversions due to casualty
2d
and theft, included in Line 6
____________|____
e
Net gain (loss) from sale or exchange of property used in trade or business
2e
and certain involuntary conversions under IRC, Section 1231, from Line 5b
____________|____
f
Any other items of income (loss) which were not included in the computation
of ordinary income (loss) on U.S. Form 1120S, Page 1
2 f
Identify: ___________________________________________________________
____________|____
2
2
Total. Add Lines 2a through 2f.
____________|____
3
3
Add Lines 1 and 2.
____________|____
4
Write the appropriate amounts from 1998 U.S. Form 1120S, Schedule K.
a
4a
Charitable contributions from Line 7
____________|____
b
4b
Expense deduction under IRC, Section 179, from Line 8
____________|____
c
4c
Oil and gas depletion (See instructions.)
____________|____
d
4d
Interest on investment indebtedness from Line 11a
____________|____
e
Any other items of expense that were not deducted when computing your ordinary
income (loss) on U.S. Form 1120S, Page 1
4e
Identify: ___________________________________________________________
____________|____
4
4
Total. Add Lines 4a through 4e.
____________|____
5
5
Unmodified base income (loss). Subtract Line 4 from Line 3 and write on Part I, Line 1.
____________|____
Part III — Base income (loss) allocable to Illinois
Complete Part III only if base income (loss) is derived inside and outside Illinois.
1
1
Base income (loss) from Part I, Line 7
____________|____
2 a
Nonbusiness income (loss) included in Line 1 net of deductions directly allocable
2a
to such income (Attach Schedule NB, see Part III, specific instructions.)
____________|____
b
Non-unitary partnership, trust, and estate business income (loss) included in
2b
Part III, Line 1
____________|____
3
3
Total. Add Lines 2a and 2b.
____________|____
4
4
Business income (loss). Subtract Line 3 from Line 1.
____________|____
5
Business income apportionment formula (Insurance companies, financial organizations, and transportation
companies see Special Apportionment Formula instructions.)
1
2
3
4
5
Total everywhere
Within Illinois
Ratio
Weighted
Weighted
factors
totals
(cannot be negative)
(cannot be negative)
Column 2 ÷ Column 1
(carry to six decimal places)
a
5a
• 166667
Property factor
________________________
_______________________
___________ X
=
___________
•
•
b
5b
• 166667
Payroll factor
________________________
_______________________
___________ X
=
___________
•
•
c
5c
• 666666
Sales factor
________________________
_______________________
___________ X
=
___________
•
•
6
6 •
Apportionment factor. Add Column 5, Lines 5a through 5c. (See instructions.)
___________
7
7
Business income (loss) apportionable to Illinois. Multiply Line 4 by Line 6.
____________|____
8
8
Nonbusiness income (loss) allocable to Illinois (Attach Schedule NB, see Part III, specific instructions.)
____________|____
9
9
Partnership, trust, and estate business income (loss) apportionable to Illinois
____________|____
10
10
Base income or net loss allocable to Illinois. Add Lines 7 through 9 and write on Part II, Line 1a.
____________|____
1
Cash
Accrual
Other (specify:_____________)
Check the method of accounting used in preparing this return:
If you sold or discontinued your business, complete the following questions.
2
Business discontinued date:
__________________________
(or)
Business sold date: ________________________________
3
New owner’s name and address: _____________________________________________________________________________
4
Former owner’s forwarding address: __________________________________________________________________________
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. This form has been approved by the Forms Management Center.
IL-492-0069
IL-1120-ST back (R-12/98)
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