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Illinois Amended Fiduciary Income and Replacement Tax Return (Includes Schedule D)
Extracted from PDF file 2023-illinois-form-il-1041-x.pdf, last modified July 2023Amended Fiduciary Income and Replacement Tax Return (Includes Schedule D)
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 Amended Fiduciary Income and Replacement Tax Return For tax years ending on or after December 31, 2023. *64112231W* 2023 IL-1041-X Indicate what tax year you are amending: Tax year beginning month day year month day 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. Enter the amount you are paying. $ F Enter your federal employer identification number (FEIN). Step 1: Identify your fiduciary A Enter your complete legal business name. , ending If you have a name change, check this box. G Check this box if you are filing this form only to report an increased net loss on Line 29, Column B. B Enter your mailing address. H Check this box if your residency is not in Illinois and you attached Illinois Schedule NR. C/O: I Check this box if you attached Schedule 1299-D. Mailing address: J Check this box if you attached Form IL-4562. City: State: ZIP: K Check this box if you attached Schedule M. L Check this box if you attached Schedule 80/20. C Check the box that identifies your fiduciary. Estate Trust M Check this box if you have completed federal D Check the box if any of the following apply. (You may check multiple boxes.) Form 8886 and attach it to this return. N If you are making a discharge of Electing small business trust (ESBT) Individual bankruptcy estate indebtedness adjustment on Schedule NLD or Grantor trust Complex trust or estate w/o distributions Form IL-1041, Line 28, check this box and attach federal Form 982. E Check the applicable box for the type of change being made . O Throwback adjustment - see instructions. Federal change NLD State change P Double throwback adjustment - see instructions. If a federal change, check one: Partial agreed Finalized Q Check this box if you are a 52/53 week filer. Enter the finalization date Attach federal finalization. Name: Explain the changes on this return (Attach a separate sheet if necessary.) Attach your payment and Form IL-1041-X-V here. Step 2: Figure your income or loss A B As most recently Corrected amount reported or adjusted Beneficiaries Fiduciary Beneficiaries Fiduciary (Whole dollars only) (Whole dollars only) (Whole dollars only) (Whole dollars only) 1 Federal taxable income from U.S. Form 1041, Line 23. 1 2 Federal net operating loss deduction from U.S. Form 1041, Line 15b. This amount cannot be negative. 2 3 Taxable income of ESBT, if required. 3 4 Exemption claimed on U.S. Form 1041. 4 5 Illinois income and replacement tax and 00 5b surcharge deducted in arriving at Line 1. 5a 6 State, municipal, and other interest 00 6b income excluded from Line 1. 6a 7 Illinois Special Depreciation addition. 00 7b Attach Form IL-4562. 7a 8 Related-Party Expenses addition. 00 8b Attach Schedule 80/20. 8a 9 Distributive share of additions. 00 9b Attach Schedule(s) K-1-P or K-1-T. 9a 10 Other additions. 0010b Attach Schedule M (for businesses). 10a 11 Add Lines 1 through 4 and Lines 5b through 10b. This is your total income or loss. 11 IL-1041-X (R-12/23) 00 1 00 00 00 00 2 3 4 00 00 00 00 5a 00 5b 00 00 6a 00 6b 00 00 7a 00 7b 00 00 8a 00 8b 00 00 9a 00 9b 00 00 10a 00 10b 00 11 00 00 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 1 of 5 Step 3: Figure your base income or loss *64112232W* A B As most recently Corrected reported or adjusted amount Beneficiaries Fiduciary Beneficiaries Fiduciary 12 Enter the amounts from Line 11. 13 August 1, 1969, valuation limitation amount. Attach Schedule F. 13a 14 Payments from certain retirement plans. 14a 15 Interest income from U.S. Treasury and other exempt federal obligations. 15a 16 Retirement payments to retired partners. 1 6a 17 River Edge Redevelopment 12 00 12 00 00 13b 00 14b 00 13a 00 14a 00 13b 00 14b 00 00 00 15b 00 16b 00 15a 00 16a 00 15b 00 16b 00 00 00 17b 00 00 18b 00 00 19b 00 00 20b 00 00 21b 00 00 22b 00 00 00 Zone Dividend subtraction. 00 17b 00 17a Attach Schedule 1299-B. 17a 18 High Impact Business Dividend 00 18b 00 18a subtraction. Attach Schedule 1299-B. 18a 19 Contributions to certain job training 00 19b 00 19a projects. See instructions. 19a 20 Illinois Special Depreciation 00 20b 00 20a subtraction. Attach Form IL-4562. 20a 21 Related-Party Expenses 00 21b 00 21a subtraction. Attach Schedule 80/20. 21a 22 Distributive share of subtractions. 00 22b 00 22a Attach Schedule(s) K-1-P or K-1-T. 22a 00 23a 23 ESBT loss amount. 23a 23b 00 24b 00 24a 24 Other subtractions. Attach Schedule M. 24a 25 Total subtractions. Add Lines 13b through 24b. 00 See instructions. 25 00 26 Base income or loss. Subtract Line 25 from Line 12. 26 If you are a nonresident of Illinois, complete Schedule NR; otherwise continue 23b 00 24b 25 26 to Step 4. 00 00 Step 4: Figure your net income 27 Base income or net loss. Residents only: Enter the amount from Line 26. Nonresidents only: Enter the amount from Sch. NR, Line 51. 27 28 Discharge of indebtedness adjustment. Attach federal Form 982. 28 29 Adjusted base income or net loss. Add Lines 27 and 28. 29 30 Illinois net loss deduction. Attach Schedule NLD. 30 If Line 29 is zero or a negative amount, enter zero. 31 Standard exemption. Residents only: See instructions before completing. Nonresidents only: Enter the amount from Sch. NR, Line 54. 31 32 Add Lines 30 and 31. 32 33 Net income. Subtract Line 32 from Line 29. If the amount is negative, enter zero. 33 00 00 00 00 27 28 29 30 00 00 00 00 00 00 31 32 00 00 00 33 00 Step 5: Figure your net replacement tax — For trusts only, estates go to Step 6. 34 35 36 37 Replacement tax. Multiply Line 33 by 1.5% (.015). 34 Recapture of investment credits. Attach Schedule 4255. 35 Replacement tax before credits. Add Lines 34 and 35. 36 Replacement tax credit for income tax paid to another state while an Illinois resident. Attach Schedule CR. See instructions. 37 38 Investment credits. Attach Form IL-477. 38 39 Total credits. Add Lines 37 and 38. 39 40 Net replacement tax. Subtract Line 39 from Line 36. If negative, enter zero. IL-1041-X (R-12/23) 40 00 00 00 34 35 36 00 00 00 37 38 39 00 00 00 00 40 00 00 00 00 Page 2 of 5 *64112233W* Step 6: Figure your net income tax — For trusts and estates A B As most recently Corrected reported or adjusted amount Fiduciary Fiduciary 41 Enter the amounts of net income from Line 33. 42 Income tax. See instructions. 43 Recapture of investment credits. Attach Schedule 4255. 44 Income tax before credits. Add Lines 42 and 43. 45 Income tax credit for income tax paid to another state while an 41 42 43 44 00 41 00 42 00 43 00 44 00 00 00 00 00 45 00 Illinois resident. Attach Schedule CR. See instructions. 45 00 46 00 46 Income tax credits. Attach Schedule 1299-D. 46 00 47 00 47 Total credits. Add Lines 45 and 46. 47 48 Net income tax. Subtract Line 47 from Line 44. 00 48 00 If negative, enter zero. 48 Step 7: Figure your refund or balance due 49 50 51 52 53 Trusts only: Net replacement tax from Line 40. 49 Net income tax from Line 48. 50 Compassionate Use of Medical Cannabis Program Act surcharge. See instructions. 51 Sale of assets by gaming licensee surcharge. See instructions. 52 Pass-through withholding you owe on behalf of your members. Enter the amount from Schedule D, Section A, Line 3. See instructions. Attach Schedule D. 53 54 Total net income and replacement taxes, surcharges, and pass-through withholding you owe. Add Lines 49 through 53. 54 55 Payments. See instructions. a Credits from previous overpayments. b Total payments made before the date this amended return is filed. c Pass-through withholding reported to you. Attach Schedule(s) K-1-P or K-1-T. d Pass-through entity tax credit reported to you. Attach Schedule(s) K-1-P or K-1-T. e Illinois income tax withheld. Attach Form(s) W-2, W-2G, and 1099. 56 Total payments. Add Lines 55a through 55e. 57 Previously paid penalty and interest. See instructions. 58 Total amount of overpayment (including any carryforward or refund) before the filing of this return for the year being amended. See instructions. 59 Add Lines 57 and 58. 60 Net tax paid. Subtract Line 59 from Line 56. 61 Overpayment. If Line 60 is greater than Line 54, subtract Line 54 from Line 60. 62 Amount of overpayment from Line 61 to be credited forward. See instructions. Check this box and attach a detailed statement if this carryforward is going to a different FEIN. 63 Refund. Subtract Line 62 from Line 61. This is the amount to be refunded. 64 Tax due with this amended return. If Line 54 is greater than Line 60, subtract Line 60 from Line 54. You will be sent a bill for any additional penalty and interest. 00 00 00 00 49 50 51 52 00 00 00 00 00 53 00 00 54 00 55a 55b 55c 55d 55e 56 57 00 00 00 00 00 00 00 58 59 60 61 62 00 00 00 00 00 63 64 00 00 If you owe tax on Line 64, complete a payment voucher, Form IL-1041-X-V. Write your FEIN, tax year ending, and “IL-1041-X-V” on your check or money order and make it payable to “Illinois Department of Revenue.” Attach your voucher and payment to the first page of this form. Enter the amount of your payment on the top of Page 1 in the space provided. Step 8: 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 fiduciary 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-1041-X (R-12/23) Printed by the authority of the state of Illinois - electronic only - one copy Page 3 of 5 Illinois Department of Revenue 2023 Schedule D Beneficiary Information Attach this schedule to your Form IL-1041. *63712231W* Year ending Month Enter your name as shown on your Form IL-1041. Year IL Attachment No. 1 Enter your federal employer identification number (FEIN). Read this information first • You must read the Schedule D instructions and complete Schedule(s) K-1-T and Schedule(s) K-1-T(3) before completing this schedule. • You must complete Section B of Schedule D and provide all the required information for your beneficiaries before completing Section A of Schedule D. 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 beneficiaries’ information (from Schedule(s) K-1-T and Schedule D, Section B) Before completing this section you must first complete Schedule(s) K-1-T, Schedule(s) K-1-T(3) and Schedule D, Section B. You will use the amounts from those schedules when completing this section. Totals for resident and nonresident beneficiaries (from Schedule(s) K-1-T) 1 Enter the total of all nonbusiness income or loss you reported on Schedule(s) K-1-T for your beneficiaries. See instructions. 1 Totals for nonresident beneficiaries (from Schedule D, Section B) 2 Enter the total pass-through withholding you reported on all pages of your Schedule D, Section B, Line G for your a. nonresident individual beneficiaries. See instructions. 2a b. nonresident estate beneficiaries. See instructions. 2b c. partnership and S corporation beneficiaries. See instructions. 2c d. nonresident trust beneficiaries. See instructions. 2d e. C corporation beneficiaries. See instructions. 2e 3 Add Line 2a through Line 2e. This is the total pass-through withholding you owe on behalf of all your nonresident beneficiaries. This amount should match the total amount from Schedule D, Section B, Line G for all nonresident beneficiaries on all pages. Enter the total here and on Form IL-1041 (Form IL-1041-X), Line 53. See instructions. 3 Enter the total pass-through entity tax credit received and distributed on all pages of Schedule D, Section B, Line H. 4 4 Attach all pages of Schedule D, Section B behind this page. Schedule D (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 *63712232W* 2023 Schedule D Enter your name as shown on your Form IL-1041. Enter your federal employer identification number (FEIN). Section B: Beneficiaries’ information (See instructions before completing.) Member 1 Member 2 A Name C/O Address 1 Address 2 City State, ZIP Member 3 B Beneficiary type C SSN/FEIN D Beneficiary’s amount of base income or loss E Excluded from pass-through withholding F Share of Illinois income subject to pass-through withholding G Pass-through withholding amount before credits H PTE tax credit received and distributed to beneficiaries If you have more beneficiaries than space provided, attach additional copies of this page as necessary. Schedule D (R-12/23) Printed by the authority of the state of Illinois - electronic only - one copy. Reset Print Page 5 of 5
2023 IL-1041-X - Amended Fiduciary Income and Replacement Tax Return
More about the Illinois Form IL-1041-X Corporate Income Tax TY 2023
We last updated the Amended Fiduciary Income and Replacement Tax Return (Includes Schedule D) in January 2024, so this is the latest version of Form IL-1041-X, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form IL-1041-X 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 Form IL-1041-X.
| Form Code | Form Name |
|---|---|
| Form IL-1041-V | Payment Voucher for Fiduciary Income and Replacement Tax |
| Form IL-1041 | Fiduciary Income and Replacement Tax Return (Includes Schedule D) |
| Form IL-1041-X-V | Payment Voucher for Amended Fiduciary Income and Replacement Tax |
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 Form IL-1041-X from the Department of Revenue in January 2024.
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 Form IL-1041-X
We have a total of thirteen past-year versions of Form IL-1041-X in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 Form IL-1041-X
2023 IL-1041-X - Amended Fiduciary Income and Replacement Tax Return
2022 Form IL-1041-X
2022 IL-1041-X - Amended Fiduciary Income and Replacement Tax Return
2021 Form IL-1041-X
2021 IL-1041-X - Amended Fiduciary Income and Replacement Tax Return
2020 Form IL-1041-X
2020 IL-1041-X Instructions
2019 Form IL-1041-X
2019 IL-1041-X Instructions
2018 Form IL-1041-X
2018 IL-1041-X, Amended Fiduciary Income and Replacement Tax Return
2017 Form IL-1041-X
2017 IL-1041-X, Amended Fiduciary Income and Replacement Tax Return
2016 Form IL-1041-X
2016 IL-1041-X, Amended Fiduciary Income and Replacement Tax Return
2015 Form IL-1041-X
2015 IL-1041-X, Amended Fiduciary Income and Replacement Tax Return
2014 Form IL-1041-X
2014 IL-1041-X, Amended Fiduciary Income and Replacement Tax Return
2013 Form IL-1041-X
2013 IL-1041-X
2011 Form IL-1041-X
IL 1041 X
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