Schedule Sa - Attach To Form Il-1040 - Specific Accounting Method Of Computing Net Income For Individuals

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Illinois Department of Revenue
Specific Accounting Method
Schedule SA
Tax year ending
of Computing Net Income
______ ______
For tax years ending on or after January 1, 2015
for Individuals
Month
Year
Attach to your Form IL-1040 as the first attachment.
Step 1: Personal Information
–
–
Your name as shown on Form IL-1040
Your Social Security number
Step 2: Income
A
B
Pre-1/1/15
Post-12/31/14
figures
figures
1
Federal adjusted gross income (IL-1040, Line 1)
_________________
_______________
2
Federally tax-exempt interest and dividend income (IL-1040, Line 2)
_________________
_______________
3
Other additions to income (IL-1040, Line 3)
_________________
_______________
4
Total income. Add Lines 1 through 3. (IL-1040, Line 4)
_________________
_______________
5
Income from Social Security benefits and retirement plans if included
in Line 1 (IL-1040, Line 5)
_________________
_______________
6
Illinois Income Tax overpayment included in U.S. 1040, Line 10 (IL-1040, Line 6)
_________________
_______________
7
Other subtractions to income (IL-1040, Line 7)
_________________
_______________
8
Total subtractions. Add Lines 5, 6, and 7. (IL-1040, Line 8)
_________________
_______________
9
Illinois base income. Subtract Line 8 from Line 4. (IL-1040, Line 9)
Residents: Skip Step 3 and enter the amounts from Line 9 on Line 20.
Part-year and Nonresidents: Complete Step 3 and follow the instructions.
_________________
_______________
Step 3 — Figure your apportionment factor (Nonresidents or part-year residents only)
10
Nonbusiness income or loss. See instructions.
_________________
_______________
11
Business income or loss from non-unitary partnerships, S corporations,
trusts, or estates. See instructions.
_________________
_______________
12
Add Lines 10 and 11.
_________________
_______________
13
Business income or loss. Subtract Line 12 from Line 9.
_________________
_______________
14
Enter the total sales everywhere. See instructions.
_________________
15
Enter the total sales within Illinois. See instructions.
_________________
16
Apportionment factor.
.
Divide Line 15 by Line 14 and carry to six decimal places.
____
____________
17
Business income or loss apportionable to Illinois.
Multiply Line 13 by Line 16, for each column.
_________________
_______________
18
Nonbusiness income or loss allocable to Illinois.
_________________
_______________
19
Non-unitary partnerships, S corporations, trusts or estates
business income or loss apportionable to Illinois.
_________________
_______________
Step 4 — Net income and tax
20
Net income or loss allocable to Illinois.
Residents: Enter the amounts from Line 9 of each column. (IL-1040, Line 9)
Part-year and Nonresidents: Add Lines 17, 18, and 19. (Schedule NR, Line 46) _________________
_______________
21
Exemption allowance. See instructions.
_________________
_______________
22
Net income. Subtract Line 21 from Line 20. (IL-1040, Line 11 or
Schedule NR, Line 51)
_________________
_______________
23
If Column A of Line 22 is negative: enter zero in Column A. Subtract
Column A of Line 22 from Column B of Line 22 and enter the result in Column B.
Otherwise, enter the amounts from Line 22 of each column. If Column B of
Line 23 is negative or zero, do not use this schedule.
_________________
_______________
24
Tax.
Column A: Multiply Line 23 by 5% (.05).
Column B: Multiply Line 23 by 3.75% (.0375).
_________________
_______________
25
Add Columns A and B, Line 24, and enter the total here and on
your Form IL-1040, Line 13.
_______________
IL-1040 Schedule SA front (R-12/14)
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