Schedule Inl (Form Il-1120) - Illinois Net Loss Adjustments For Cooperatives And Remic Owners

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Illinois Department of Revenue
Year ending
Illinois Net Loss Adjustments for
__ __
Schedule INL
Cooperatives and REMIC Owners
Month
Year
Attach to your Form IL-1120.
IL Attachment No. 20
Step 1: Provide the following information
A _____________________________________________________________
B ___ ___ - ___ ___ ___ ___ ___ ___ ___
Enter your
Enter your name as shown on your Form IL-1120.
federal employer identification no. (FEIN).
C Check the box indicating the reason for completing Schedule INL.
Cooperative Adjustments
(Complete Steps 2 and 3 only.)
REMIC Adjustments
(Complete Step 4 only.)
Step 2: Make your election (Cooperatives only)
1
Mark the box if this is the first year for which you are filing Schedule INL.
If you marked the box in Line 1, complete the following statement by checking the appropriate box 1a or 1b.
I elect to compute Illinois net income for all taxable years:
a
allowing patronage losses to offset nonpatronage income.
b
without allowing patronage losses to offset nonpatronage income.
2
Mark the box if you elected to offset nonpatronage loss against patronage income
for federal purposes for this tax year.
Step 3: Figure your Illinois income or loss (Cooperatives only)
A
B
Patronage
Nonpatronage
3
Federal taxable income. (Federal Form 1120-C, Schedule G, Line 10, or
3a
3b
Form 8817, Line 29.)
____________ 00
____________ 00
4
4a
4b
Addition modifications
____________ 00
____________ 00
5
5a
5b
Subtraction modifications
____________ 00
____________ 00
6
6a
6b
Base income. Add Lines 3 through 5.
____________ 00
____________ 00
7
7a
7b
Nonbusiness income or loss
____________ 00
____________ 00
8
8a
8b
Trust, estate, and non-unitary partnership business income or loss
____________ 00
____________ 00
9
9a
9b
Add Lines 7 and 8.
____________ 00
____________ 00
10
10a
10b
Business income or loss. Subtract Line 9 from Line 6.
____________ 00
____________ 00
11
11a
11b
Apportionment factor from Form IL-1120, Line 30
___ ___________
___ ___________
12
12a
12b
Business income or loss apportioned to Illinois. Multiply Line 10 by Line 11.
____________ 00
____________ 00
13
13a
13b
Nonbusiness income or loss allocated to Illinois from Form IL-1120, Line 32.
____________ 00
____________ 00
14
Trust, estate, and non-unitary partnership business income or loss apportioned to
14a
14b
Illinois from Form IL-1120, Line 33.
____________ 00
____________ 00
15
15a
15b
Base income or loss allocable to Illinois. Add Lines 12 through 14.
____________ 00
____________ 00
16
16a
16b
Discharge of Indebtedness adjustment. See instructions.
____________ 00
____________ 00
17
17a
17b
Adjusted base income or net loss. Add Lines 15 and 16. See instructions.
____________ 00
____________ 00
18
18a
18b
Illinois net loss deduction
____________ 00
____________ 00
19
19a
19b
Net income or loss. Subtract Line 18 from Line 17.
____________ 00
____________ 00
20
20
Combined net income or loss. See instructions.
____________ 00
*495501110*
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.
Schedule INL front (R-12/14)

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