Illinois Related-Party Expenses

Related-Party Expenses
2023 Schedule 80/20 - Related-Party Expenses
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Illinois Department of Revenue	

	

*34312231W*

Year ending
2023 Schedule 80/20		

	

Related-Party Expenses

_____ _____

For tax years ending on or after December 31, 2023.
Attach to your Form IL-1120, IL-1120-ST, IL-1065, or IL-1041.

Enter your name as shown on your Illinois tax return.

1			Enter the name of each
		 affiliated company.	
2		Enter the FEIN for each

A	

									

Step 2: Figure your addition modifications
		 each affiliated company.	
	b	 Interest exempt from
		 the amount on Line 3a.	

B	

C	

		

	

D - Totals		

1	

		 affiliated company.	
2 	
2a		 Check if this is a newly added
		 affiliated company. See instructions.	

3a 	 Amount of interest paid to

Year

IL Attachment No. 14

Enter your federal employer identification number (FEIN).

Step 1: Identify your affiliated companies 	
										

Month

All taxpayers may complete this section.
If you have more
affiliated companies
to report than space
provided, complete
and attach additional
Schedules 80/20.
Report the totals in
column D of the last
additional Schedule
			
only.

3a	

3b	
	c	Subtract Line 3b from 3a.	 3c
4		Amount of dividends

	

		 received from each
		 affiliated company.
4		 	
5		Subtract Line 4 from Line 3c.
		 If negative, enter zero here
		 and the result as a positive
		 amount on Line 7.	
5 	
		
5
	
6a	 Intangible expenses paid to
		 each affiliated company.	 6a	
	 b	 Intangible expenses amount on
		Line 6a exempt from add-back. 6b	
	
Check the boxes on Line 6c to identify the reasons the amount on Line 6b is exempt from addback. You may check multiple boxes.
See instructions.
	c	 Foreign company or state			
									
		
	
		 No principal purpose			
									
		
	
	Add-back unreasonable			
									
		
	
Alternative apportionment			
									
		
	d	 Subtract Line 6b from 6a.	 6d	
	
7		Any excess of dividends
		 received from each affiliated
		 company on Line 4 over the
		 interest expense addition on
		 Line 3c.	
7	
	
	
8		Subtract Line 7 from Line 6d.
		 If negative, enter zero. 	
8		
	 	
	8
	
9		Total addition modifications
		 Add Lines 5 and 8.
9		
	 	
	9
	 Enter the amount here. See instructions.

Step 3: Figure your subtraction modifications for affiliated companies

	

	All taxpayers may complete Steps 3 and 4 if an addition modification was figured in Step 2.	

10		 Enter the amount of interest

			 received from each affiliated
			company.	
		
10 	
	11	 Enter the lesser of
			 Line 5 or Line 10.
			11	
	 2	 Enter the amount of
1
			intangible income
			 received from each 	
			 affiliated company.	
		12	
	 3	 Enter the lesser of
1
			 Line 8 or Line 12.
				13	
14	 Add Column D, Line 11 and Column D, Line 13
Enter the total here and on Page 2, Line 15.
			
Schedule 80/20 Front (R-12/23)

11

		

	

	13	
	14
All taxpayers continue to Page 2

	

		
	

	

Illinois Department of Revenue	

2023 Schedule 80/20			

				

*34312232W*

Enter your name as shown on your Illinois tax return.	

Enter your federal employer identification number (FEIN).

Read this information first - If you attach multiple copies of Schedule 80/20 to your return, complete this page once and attach it
as the last page of Schedule 80/20. Failure to do so may result in a delay in the processing of your return.
Step 4: Figure your total subtraction modification
15	 Enter the amount from Line 14.

									15

		If you are not an affiliated company, skip Lines 16 through 22 and complete Line 23.
		If you are an affiliated company, complete Lines 16 through 22 and Line 23.

16	 Enter the name and FEIN of the	

Name 	

			 U.S. company that paid you interest
			 or intangible expenses.	

FEIN	

17	 Enter the amount of interest received from the U.S. company.	

17

18	 Enter the amount of interest paid to you from the U.S. company’s Schedule 80/20, Line 5.	

18

19	 Enter the lesser of Line 17 or Line 18.			

19

	20	 Enter the intangible income 	received from the U.S. company.	

20

		21	 Enter the amount of intangible 	expenses paid to you from the U.S. company’s Schedule 80/20, Line 8.	

21

		22	 Enter the lesser of Line 20 or Line 21.			

22

	All taxpayers complete Line 23.	
23	 Total subtraction modifications.
			 Add Lines 15, 19, and 22.
			 Enter the amount here. See instructions.			

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.

Reset
Schedule 80/20 Back (R-12/23)

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