Illinois Amended Partnership Replacement Tax Return (Includes Schedule B)

Amended Partnership Replacement Tax Return (Includes Schedule B)
2023 IL-1065-X - Amended Partnership Replacement Tax Return
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Illinois Department of Revenue

	
	
	

Amended Partnership Replacement Tax Return

*32512231W*

2023 IL-1065-X

For tax years ending on or after December 31, 2023
	 Indicate what tax year you are amending: Tax year beginning
			

	
	

month	

day

year	

month

day	

Enter the amount you
	
are paying.

year

If you are filing an amended return for tax years ending before December 31, 2023,
you may not use this form. For prior years, see instructions to determine the correct form to use.

Step 1:	 Identify your partnership
A		 Enter your complete legal business name.

		

		 	 I	
		
		
		
		

		
Name:	

B	 	Enter your mailing address.
		C/O:	 	

		

Mailing address:

	City:	

	 State:	

$

	H	 Enter your federal employer identification number (FEIN).

		If you have a name change, check this box.																												

	

, ending

	 ZIP:

		

Check this box if you are a member of a unitary
business group and are included on a Schedule UB,
Combined Apportionment for Unitary Business Group.
Enter the FEIN of the member who prepared the
Schedule UB and attach it to this return.

	

	J	 Enter your North American Industry Classification 		
		 System (NAICS) Code. See instructions.

	
C		Check this box if you are filing this form only to report an increased net 																															
		
		 loss on Line 47, Column B.																																														
	K	 If you have completed the following, check the box
D		Check this box if you are:
		 and attach the federal form(s) to this return, if you 		
			 classified as an investment partnership.				 																							
			classified as a publicly-traded partnership. 																							

E		Check the applicable box for the type of change being made.
			NLD	

	State change	

	 Federal change

		If a federal change, check one:
		 Partial agreed 		

Finalized

		
Enter the finalization date
		
Attach your federal finalization to this return.

F		Check this box if you are filing Form IL-1065-X before the extended due
		date and making the election to treat all nonbusiness income as
		business 	income.																																						

G		Check this box if you elected to file and pay
		Pass-through Entity Tax. See instructions.													

			

		 have not previously done so.
		
Federal Form 8886	
	Federal Schedule M-3,
					 Part II, Line 10
	L	 Check this box if you attached Form IL-4562.	
	M	 Check this box if you attached Schedule M.	
	N	 Check this box if you attached Schedule 80/20.	
	 O	 Check this box if you attached Schedule 1299-A.	
	 P	 Check this box if your business activity is
		 protected under Public Law 86-272.	
	Q	 Throwback adjustment - see instructions.	
	 R	 Double throwback adjustment - see instructions. 	
	S	 Check this box if you attached
the Subgroup Schedule.	
										
		
	 T	 Check this box if you are a 52/53 week filer. 	
	U	 If you are paying Pass-through Entity (PTE) Tax and 	
							
		 you annualized your income on Form IL-2220,
		 check this box and attach Form IL-2220.	

Explain the changes on this return (Attach a separate sheet if necessary.):
Step 2: 	 Figure your ordinary income or loss 														A											 B
Attach your payment and
Form IL-1065-X-V here.

																		 As most recently					
Corrected
																		reported or adjusted					
amount	
																		(Whole dollars only)				
(Whole dollars only)

00			 1	
00
	1	
Ordinary income or loss or equivalent from U.S. Schedule K.			
1	
00			 2	
00
	
2	 Net income or loss from all rental real estate activities.	
		
2	
00			 3	
00
	
3	 Net income or loss from other rental activities.			
3	
00			 4	
00
	
4	 Portfolio income or loss.	
		
4	
00			 5	
00
	
5	 Net IRC Section 1231 gain or loss.	
		
5	
	
6	 All other items of income or loss that were not included in the computation of income															
00			 6	
00
		 or loss on Page 1 of U.S. Form 1065. Identify:
			
6	
00			 7	
00
	
7	 Add Lines 1 through 6. This is your ordinary income or loss.		 	7	

Step 3:	 Figure your unmodified base income or loss
	
8	 Charitable contributions.	
		
8	
	
9	 Expense deduction under IRC Section 179.			
9	
	
10	 Interest on investment indebtedness. 			 10	
	11	 All other items of expense that were not deducted in the computation of ordinary
		income or loss on Page 1 of U.S. Form 1065. Identify:
	11	
	12	 Add Lines 8 through 11.	
		 12	
	13	
Subtract Line 12 from Line 7. This is your total
		
unmodified base income or loss.			
13	
IL-1065-X (R12/23)

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.

00		 8	
00			 9	
00	 10	

00
00
00

00	
00	

11	
12	

00
00

00	

13	

00
Page 1 of 5

	

*32512232W*

Step 4: 	 Figure your income or loss 									
																 		
																	

A					

As most recently					
reported or adjusted					

B
Corrected
amount

00
00
	14	Enter the amounts from Line 13.	
			
14	
14		
00
00
	15	State, municipal, and other interest income excluded from Line 14.			
15	
15	
00
00
	 16	 Illinois replacement tax deducted in arriving at Line 14.	 			
16	
16	
00
00
	 17	 Illinois Special Depreciation addition. Attach Form IL-4562.			
17	
17 	
00
00
	 18	 Related-Party Expenses addition. Attach Schedule 80/20.			
18	
18 	
00
00
	 19	 Distributive share of additions. Attach Schedule(s) K-1-P or K-1-T.			
19	
19 	
00
00
	 20	 Guaranteed payments to partners from U.S. Form 1065.	 			
20	
20 	
	 21	 The amount of loss distributable to a partner subject to												
00
00
		 replacement tax. Attach Schedule B.	
			
21	
21 	
00
00
	 22	 Other additions. Attach Schedule M (for businesses).				
22	
22 	
00
00
	 23	 Add Lines 14 through 22. This is your income or loss.	
			
23	
23 	

Step 5: 	 Figure your base income or loss
00 	24 	
00
	 24	 Interest income from U.S. Treasury and exempt federal obligations.			
24		
00 	25 	
00
	 25	 August 1, 1969, valuation limitation amount. Attach Schedule F.			
25	
	 26	 Personal service income or reasonable allowance for
00 	26 	
00
		 compensation of partners.				
26	
	 27	 Share of income distributable to a partner subject to													
00 	27 	
00
		 replacement tax. Attach Schedule B.	
			
27	
00
00
	 28	 River Edge Redevelopment Zone Dividend subtraction. Attach Schedule 1299-A.	28	
28 	
00
00
	 29	 High Impact Business Dividend subtraction. Attach Schedule 1299-A.			
29	
29 	
00
00
	 30	 Illinois Special Depreciation subtraction. Attach Form IL-4562.			
30	
30 	
00
00
	 31	 Related-Party Expenses subtraction. Attach Schedule 80/20.			
31	
31 	
00
00
	 32	 Distributive share of subtractions. Attach Schedule(s) K-1-P or K-1-T.	 		
32	
32 	
00
00
	 33	 Other subtractions. Attach Schedule M (for businesses).	 			
33	
33 	
00
00
	34	 Total subtractions. Add Lines 24 through 33. 	
			
34	
34 	
00
00
	 35	 Base income or loss. Subtract Line 34 from Line 23. 				
35	
35 	

	

A 	If the amount on Line 35 is derived inside Illinois only, check this box and enter the amount from Step 5, Line 35
		on Step 7, Line 47. You may not complete Step 6. (You must leave Step 6, Lines 36 through 46 blank.)
	
If you are a unitary filer, do not check this box. Check the box on Line B and complete Step 6.
B 	If any portion of the amount on Line 35 is derived outside Illinois, or you are a unitary filer, check this box and 		
	complete all lines of Step 6. (Do not leave Lines 40 through 42 blank.) See instructions.

Step 6: 	 Figure your income allocable to Illinois (Complete only if you checked the box on Line B, above.)	
	 36	 Nonbusiness income or loss. Attach Schedule NB.	
		36	
	37	Business income or loss included in Line 35 from non-unitary partnerships,

00	36	

00

		 partnerships included on a Schedule UB, S corporations, trusts,
		 or estates. See instructions. 	 			37	

00	37	

00

	 38	 Add Lines 36 and 37.	

00	38	

00

00	39	
00	40	

00

00	41	

00

	42	
00	43	
00	44	

00

00	45	
00	46	

00
00

			38	
	 39	 Business income or loss. Subtract Line 38 from Line 35. 	 		39	
	 40	 Total sales everywhere. This amount cannot be negative.	 		40	
	 41	 Total sales inside Illinois. This amount cannot be negative.		
	41	
	 42	 Apportionment factor. Divide Line 41 by Line 40. Round to six decimal places.		 42	
	 43	 Business income or loss apportionable to Illinois. Multiply Line 39 by Line 42.		 43	
	 44	 Nonbusiness income or loss allocable to Illinois. Attach Schedule NB.		44	
	45	Business income or loss apportionable to Illinois from non-unitary
		 partnerships, partnerships included on a Schedule UB, 	
		 S corporations, trusts, or estates. See instructions.	
		45	
	 46	 Base income or loss allocable to Illinois. Add Lines 43 through 45.	
	46	

IL-1065-X (R12/23)

00

00

Page 2 of 5

*32512233W*

Step 7:			 Figure your net income			
A				
									
					

47	 Base income or net loss from Step 5, Line 35 or Step 6, Line 46.
	48	Illinois net loss deduction. Attach Schedule NLD.

As most recently			
reported or adjusted

B

Corrected
amount

	

47

00	

47	

00

		
If Line 47 is zero or negative, enter zero.	
		
Check this box and attach a detailed statement if you have merged losses.
	49	 Income after NLD. Subtract Line 48 from Line 47. 	
	 50	 Enter the amount from Step 5, Line 35.	
	 51	 Divide Line 47 by Line 50. Round to six decimal places.
		 Cannot be greater than one.	
	52	 Exemption allowance. See instructions before completing.	
	 53	 Net income. Subtract Line 52 from Line 49.	

48	
	
49	
50	

00	

48	

00

00	
00	

49	
50	

00
00

00	
00	

	51	
52	
53	

00
00

00	
54	
00	
55	
00	56	
00	
57	
00	58	

00
00
00
00
00

51	
52	
53	

Step 8:			 Figure the taxes and withholding you owe
	54	 Replacement tax. Multiply Line 53 by 1.5% (.015).	54	
	55	 Recapture of investment credits. Attach Schedule 4255.	55 	
	 56	 Replacement tax before investment credits. Add Lines 54 and 55.	56	
	57	Investment credits. Attach Form IL-477. 	
57	
	 58	 Net replacement tax. Subtract Line 57 from Line 56. If negative, enter zero. 58		
	59	 Withholding. See Instructions.

		 a	 Pass-through withholding you owe on behalf of your members.
00 	
			 Enter the amount from Schedule B, Section A, Line 5. Attach Schedule B. 	 59a	
59a	
00 	
		b	Investment partnership withholding. 	59b	
59b	
00 	
		
Total withholding. Add Lines 59a and 59b. 	
59	
59	
00
	60	 Pass-through entity income. See instructions.
	
60	
	
60	
00	
	61	 Pass-through entity tax. Multiply Line 60 by 4.95% (.0495).	
61	
61 	
	62	 Total taxes, withholding, and pass-through entity tax. Add Lines 58, 59, and 61.		
62 	

00
00
00
00
00
00

Step 9:			 Figure your refund or balance due
	

63	 Payments. See instructions.

63a	
		b	Total payments made before the date this amended return is filed.
	
63b	
		
c	 Pass-through withholding reported to you. Attach Schedule(s) K-1-P or K-1-T.	
63c	
	
	d	 Illinois income tax withholding. Attach Form(s) W-2G. 	63d	
	 64	 Total payments. Add Lines 63a through 63d.	64	
	65	 Previously paid penalty and interest. See instructions. 	
65	
	 66	 Total amount of overpayment (including any carryforward or refund) before the filing of this return
		 for the year being amended. See instructions. 	
66	
	 67	 Add Lines 65 and 66. 	
67	
	 68	 Net tax paid. Subtract Line 67 from Line 64.	
68	
	 69	 Overpayment. If Line 68 is greater than Line 62, subtract Line 62 from Line 68.	
69	
	70	 Amount of overpayment from Line 69 to be credited forward. See instructions.	
70	

00
00
00
00
00
00

		
a	 Credits from previous overpayments.	

00
00
00
00
00

		
Check this box and attach a detailed statement if this carryforward is going to a different FEIN.
	71	 Refund. Subtract Line 70 from Line 69. This is the amount to be refunded.	
71	
	72	 Tax due with this amended return. If Line 62 is greater than Line 68, subtract Line 68 from Line 62. 	72	
	
You will be sent a bill for any additional penalty and interest.

00
00

Enter the amount of your payment on the top of Page 1 in the space provided.

Step 10:	 Sign below - Under penalties of perjury, I state that I have examined this return and, to the best of my knowledge, it is true, correct, and complete.

Sign
Here

(
Signature of partner

Paid
Preparer
Use Only

Date (mm/dd/yyyy)

Print/Type paid preparer’s name

Title

Paid preparer’s signature

Check if the Department
may discuss this return with the
paid preparer shown in this step.

)

Phone
Date (mm/dd/yyyy)

Check if 	
	self-employed Paid Preparer’s PTIN

Firm’s name

Firm’s FEIN

Firm’s address

Firm’s phone

(

)

Mail this return to: Illinois Department of Revenue, P.O. Box 19016, Springfield, IL 62794-9016
IL-1065-X (R12/23)

Printed by the authority of the state of Illinois - electronic only - one copy.

Page 3 of 5

	
	

Illinois Department of Revenue

2023 Schedule B

Year ending

*30812231W*

Partners’ or Shareholders’ Information

Month

Attach to your Form IL-1065 or Form IL-1120-ST.	

Enter your name as shown on your Form IL-1065 or Form IL-1120-ST.

Year

IL Attachment No. 1

Enter your federal employer identification number (FEIN).

Read this information first
•	

You must read the Schedule B instructions and complete Schedule(s) K-1-P and Schedule(s) K-1-P(3) before completing this
schedule.

•	

You must complete Section B of Schedule B and provide all the required information for your partners or shareholders before
completing Section A of Schedule B.
	 Failure to follow these instructions may delay the processing of your return or result in you receiving further correspondence from
the Illinois Department of Revenue. You may also be required to submit further information to support your filing.

Section A: Total members’ information (from Schedule(s) K-1-P and Schedule B, Section B)
Before completing this section you must first complete Schedule(s) K-1-P, Schedule(s) K-1-P(3) and Schedule B, Section B. You
will use the amounts from those schedules when completing this section.

Totals for resident and nonresident partners or shareholders (from Schedule(s) K-1-P and Schedule B, Section B)
1	 Enter the total of all nonbusiness income or loss you reported on Schedule(s) K-1-P for your members.
	

1

See instructions.	

2	 Enter the total of all income and replacement tax credits you reported on Schedule(s) K-1-P for your
	

2

members. See instructions.	

3	 Add the amounts shown on Schedule B, Section B, Line E for all partners or shareholders on all
	
	

pages for which you have checked the box indicating the entity is subject to Illinois replacement tax
or an ESOP. Enter the total here. See instructions.	

3

Totals for nonresident partners or shareholders only (from Schedule B, Section B)
4	 Enter the total pass-through withholding you reported on all pages of your Schedule B, Section B, Line J for your	
	

	 a.
	
	 b.
	
	c.
	
	 d.
	
	 e.

nonresident individual members. See instructions.	

4a

nonresident estate members. See instructions.	

4b

partnership and S corporation members. See instructions.	

4c

nonresident trust members. See instructions.	

4d

C corporation members. See instructions.	

4e

5 	 Add Line 4a through Line 4e. This is the total pass-through withholding you owe on behalf of all your
	
	
	
	

nonresident partners or shareholders. This amount should match the total amount from Schedule B,
Section B, Line J for all nonresident partners or shareholders on all pages. Enter the total here and
on Form IL-1065 (Form IL-1065-X), Line 59a, or Form IL-1120-ST (Form IL-1120-ST-X), Line 59.
See instructions.	

6	 Enter the total pass-through entity tax credit paid on all pages of Schedule B, Section B, Line K. 	

5	
6	

7	 Enter the total pass-through entity tax credit received and distributed on all pages of Schedule B,
	

7	

Section B, Line L. 	

Attach all pages of Schedule B, Section B behind this page.

Schedule B (R-12/23)

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.

Page 4 of 5

	

Illinois Department of Revenue	
	

			
		

	

2023 Schedule B		

*30812232W*

		

Enter your name as shown on your Form IL-1065 or Form IL-1120-ST.	

							

Enter your federal employer identification number (FEIN).

Section B: Members’ information (See instructions before completing.)
			

Member 1		

Member 2		

A 	Name 		

	

	

C/O		

	

	

Address 1 		

	

	

Address 2		

	

	

City 		

	

	

State, ZIP		

	

B	 Partner or
	 Shareholder 		

Member 3	

		

		

C 	SSN/FEIN		

	

	

D 	Subject to Illinois
	
	

replacement tax
or an ESOP 		

		

		

	

E	 Member’s distributable
	
	

amount of base
income or loss 	

	

F 	 Excluded from

	pass-through
	withholding 		

		

		

	

G	 Share of Illinois

	 income subject to
	pass-through
	withholding 	

	

	

	withholding
	 before credits		

	

H	 Pass-through

I	 Distributable
	

share of credits 	

	

	

	

	

	 paid to
	members 		

	

J	 Pass-through
	withholding
	amount 	

K	 PTE tax credit

L 	 PTE tax credit
	 received and
	 distributed to
	members 	

			

									
Schedule B (R-12/23)

	

	
If you have more members than space provided, attach additional copies of this page as necessary.
Printed by the authority of the state of Illinois - electronic only - one copy.

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Page 5 of 5