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Illinois Free Printable 2023 Schedule 80/20 - Related-Party Expenses for 2024 Illinois Related-Party Expenses

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Related-Party Expenses
2023 Schedule 80/20 - Related-Party Expenses

Use your mouse or Tab key to move through the fields. Use your mouse or space bar to enable check boxes. 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) Print Printed by the authority of the state of Illinois - electronic only - one copy.
Extracted from PDF file 2023-illinois-schedule-80-20.pdf, last modified July 2023

More about the Illinois Schedule 80-20 Corporate Income Tax TY 2023

We last updated the Related-Party Expenses in January 2024, so this is the latest version of Schedule 80-20, fully updated for tax year 2023. You can download or print current or past-year PDFs of Schedule 80-20 directly from TaxFormFinder. You can print other Illinois tax forms here.

Related Illinois Corporate Income Tax Forms:

TaxFormFinder has an additional 75 Illinois income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Illinois Schedule 80-20.

Form Code Form Name
Form Schedule 80/20 Related-Party Expenses

Download all IL tax forms View all 76 Illinois Income Tax Forms


Form Sources:

Illinois usually releases forms for the current tax year between January and April. We last updated Illinois Schedule 80-20 from the Department of Revenue in January 2024.

Show Sources >

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Illinois Schedule 80-20

We have a total of ten past-year versions of Schedule 80-20 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Schedule 80-20

2023 Schedule 80/20 - Related-Party Expenses

2022 Schedule 80-20

2022 Schedule 80/20 - Related-Party Expenses

2021 Schedule 80-20

2021 Schedule 80/20 - Related-Party Expenses

2020 Schedule 80-20

2020 Schedule 80/20 Instructions

2019 Schedule 80-20

2019 Schedule 80/20 Instructions

2018 Schedule 80-20

2018 Schedule 80/20, Related-Party Expenses

2017 Schedule 80-20

2017 Schedule 80/20, Related-Party Expenses

2016 Schedule 80-20

2016 Schedule 80/20, Related-Party Expenses

Related-Party Expenses 2015 Schedule 80-20

2015 Schedule 80/20, Related-Party Expenses

2014 Schedule 80/20 2014 Schedule 80-20

2014 Schedule 80/20


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