Schedule F (Il-1040) (R-12/06) - Gains From Sales Or Exchanges Of Property Form

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Illinois Department of Revenue

Schedule F

Tax year ending

Attach to your Form IL-1040

Include with Schedule F a complete copy of your U.S. 1040, Schedule D, and, if filed, U.S. Forms 4797 and 6252.

IL Attachment No. 16

Your name as shown on your Form IL-1040

Your Social Security number

Step 1– August 1, 1969, Valuation Limitation Amounts for Capital (Non-depreciable) Assets

For installment sales, see instructions on the back of this schedule.

Column A

Column B

Column C

Column D

Column E

Column F

Column G

Column H

Description of property

Date acquired

Date sold

Federal gain

August 1, 1969, value

Federal tax basis

Subtract Column F

Write smaller

(If other than a listed security, see instruction.)

(mo., yr.)

in taxable year

(or applicable fraction)

on August 1, 1969

from Column E

of Column D

(See instructions)

(or fraction in E times D).

or Column G.

1 a

2 Write your share of pre-August 1, 1969, appreciation amounts from partnerships, S corporations, trusts, and estates. See instructions.

3 Write the amount from your Form IL-4644, Line 18, if required.

4 Total – Add Lines 1 through 3. Write the amount here and on Step 3, Line 9 below.

Step 2 – August 1, 1969, Valuation Limitation Amounts for Property Used in Trade or Business (Sections 1231, 1245, and 1250 Property)

For installment sales, see instructions on the back of this schedule.

Column A

Column B Column C

Column D

Column D1

Column D2

Column E

Column F

Column G

Column H

Column I

Description

Date

Federal gain

Section

August 1, 1969, value

Federal tax basis

Subtract Column F

Write smaller of

of property

acquired

sold

in taxable year

1245 & 1250 gain

1231 gain

(or applicable fraction) on August 1, 1969

from Column E

Column D1

(Column G minus H)

(mo., yr.)

(See instructions)

(See instructions) (or fraction in E times D)

or Column G

or Column D2

5 a

6 Write your share of August 1, 1969, valuation limitation amounts from partnerships, S corporations, trusts, and estates. See instructions.

7 Total – Add Column H, Lines 5 and 6. Write the amount here and on Step 3, Line 16 below.

8 Total – Add Column I, Lines 5 and 6. Write the amount here and on Step 3, Line 10 below. Only write on Line 10 if U.S. 1040, Schedule D, Line 11 shows a gain.

Step 3 – August 1, 1969, Valuation Limitation Amount. This part must be completed.

9 Write the amount from Step 1, Line 4.

10 Write the amount from Step 2, Line 8.

11 Add Lines 9 and 10.

12 Write net capital gain, if any, from U.S. Form 1040, Schedule D, Line 16. Otherwise, write zero.

13 Write the amount from Form IL-4644, Line 13, if required.

14 Subtract Line 13 from Line 12. If Line 13 is equal to or greater than Line 12, write zero.

15 Write the smaller of Line 11 or Line 14.

16 Write the amount from Step 2, Line 7.

17 August 1, 1969, valuation limitation amount - Add Lines 15 and 16. Write the amount here and on Schedule M, Other Additions and Subtractions for Individuals, Line 19.

Schedule F (IL–1040) (R-12/06)

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