Instructions For Schedule K-1-P(2) - Illinois Partner'S And Shareholder'S Page 2

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from the amount of that item in Column A, and include the difference
—
Step 3, Column B represents your
Steps 3 and 4 - Column B
in the Non-Illinois Portion column for that item on your
share of the partnership’s or the S corporation’s nonbusiness income
• Form IL-1040, Schedule CR, Credit for Tax Paid to Other States, or
allocated to Illinois. Step 4, Column B, represents your share of the
partnership’s or the S corporation’s business income apportioned to
• Form IL-1041, Schedule CR, Credit for Tax Paid to Other States.
Illinois.
Step-by-Step Instructions
for individuals filing Form IL-1040
Steps 3 and 4 - Your share of nonbusiness and
Column A
Column B
Line 12
______________
______________
business income or loss —
Line 13
______________
______________
Follow the Steps 3 and 4 instructions to determine the amounts
Line 14
______________
______________
to include on your Form IL-1040, Schedule NR or Schedule CR.
Line 15
______________
______________
Column A - Member’s share —
The amounts reported on
Line 20
______________
______________
Lines 10 through 31 must match your federal Schedule K-1.
Line 21
______________
______________
Line 22
______________
______________
Column B - Illinois share —
To determine the amount to
Line 25
______________
______________
include on specific lines of your Form IL-1040 and Schedule NR, add
specific lines in Step 3, Column B, to specific lines in Step 4, Column B.
Line 28
______________
______________
The following instructions explain what lines to add together and on what
Line 29
______________
______________
line of your form or schedule these totals are to be included.
______________
______________
Total
Nonresidents: Include the total amount from Column B on your Form
If the partnership that completed the Schedule K-1-P entered
IL-1040, Schedule NR, Step 3, Column B, Line 15.
“investment partnership” in Step 1, Line 4, Column B should be blank.
Do not use the Column B instructions for this step. Instead, refer to the
Residents claiming taxes paid in other states: Subtract the amount in
instructions under General Information, “What if the partnership is an
Column B from the total amount in Column A, and include the result on
investment partnership?”
your Form IL-1040, Schedule CR, Step 2, Column B, Line 11.
Use the following instructions in order to include the income
Enter the amounts from Columns A and B,
Capital gain or loss -
from Schedule K-1-P, Steps 3 and 4, on your Form IL-1040, Schedule
Steps 3 and 4, for each line item and add all the amounts for each
NR, Step 3, Column B, Lines 5 through 19, or Form IL-1040, Schedule
column.
CR, Step 2, Column B, Lines 1 through 15.
Column A
Column B
Nonbusiness interest is not taxed by Illinois.
Line 16
______________
______________
Interest income -
Step 3, Column B, Line 10, should be “0.” If the Schedule K-1-P you
Line 17
______________
______________
received shows an amount in Column B of this line, you should notify the
Line 18
______________
______________
partnership or S corporation who issued you the schedule and ask for a
Line 26
______________
______________
corrected Schedule K-1-P.
Line 27
______________
______________
______________
______________
Nonresidents: Include the amount from Step 4, Column B, Line 23, on
Total
your Form IL-1040, Schedule NR, Step 3, Column B, Line 6.
Nonresidents: Include the total amount from Column B on your Form
IL-1040, Schedule NR, Step 3, Column B, Line 11.
Residents claiming credit for taxes paid in other states: Subtract
the amount on Step 4, Column B, Line 23, from the amount on Step
Residents claiming taxes paid in other states: Subtract the amount in
4, Column A, Line 23, and include the result on your Form IL-1040,
Column B from the total amount in Column A, and include the result on
Schedule CR, Step 2, Column B, Line 2.
your Form IL-1040, Schedule CR, Step 2, Column B, Line 7.
Nonbusiness dividends are not taxed by Illinois.
Dividend income -
Other gains or losses -
Step 3, Column B, Line 11, should be “0.” If the Schedule K-1-P you
Nonresidents: Include the amount from Step 4, Line 30, Column B, on
received shows an amount in Column B of this line, you should notify the
your Form IL-1040, Schedule NR, Step 3, Column B, Line 12.
partnership or S corporation who issued you the schedule and ask for a
corrected Schedule K-1-P .
Residents claiming taxes paid in other states: Subtract the amount
on Step 4, Column B, Line 30, from the amount on Step 4, Column A,
Nonresidents: Include the amount from Step 4, Column B, Line 24, on
Line 30, and include the result on your Form IL-1040, Schedule CR,
your Form IL-1040, Schedule NR, Step 3, Column B, Line 7.
Step 2, Column B, Line 8.
Residents claiming credit for taxes paid in other states: Subtract
The partnership or the S corporation is required to
the amount on Step 4, Column B, Line 24, from the amount on Step
Other income -
identify or send you a breakdown of the items reported on Step 3, Line
4, Column A, Line 24, and include the result on your Form IL-1040,
19, and Step 4, Line 31. This identification or breakdown will determine
Schedule CR, Step 2, Column B, Line 3.
on what lines of your federal return you need to report the income in
Rents, royalties, partnerships, S corporations, estates, and
Column A.
Enter the amounts from Columns A and B, Steps 3 and 4, for
trusts -
each line item and add all the amounts for each Column.
Schedule K-1-P(2) (R-12/14)
Page 2 of 10

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