Illinois Income Tax Subtractions & Credits For Individuals

Income Tax Subtractions & Credits For Individuals
2023 Schedule 1299-C - Income Tax Subtractions and Credits (for individuals)
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*61612231W*
	

Illinois Department of Revenue		

	

Attach to your Form IL-1040.		
For tax years ending on or after December 31, 2023.

	

2023 Schedule

	
Income Tax Subtractions	
1299-C	 and Credits (for individuals)		

	

IL Attachment No. 3

	

________________________________________________________	 _____ _____ _____ – _____ _____ – _____ _____ _____ _____
Your name as shown on Form IL-1040	
Your Social Security number

Read this information before completing this form:

Refer to Schedule 1299-I, Income Tax Credits Information and Worksheets, and Schedule 1299-C Instructions for information on how to complete
this schedule. All figures should be rounded to whole dollars.
If you are carrying forward credits from a previous year, you must refer to your 2022 Schedule 1299-C, Step 3 to determine the amount of
available credit carryforward that you may use on this 2023 Schedule 1299-C.
If you have more subtractions or credits than lines available, attach a separate schedule in the same format with all the required information.
Complete Step 3, Line 43 on this schedule only.
NOTE: If you do not provide the necessary information or attempt to claim a subtraction or credit which does not exist, you may receive
correspondence from the Department, your subtraction or credit may be disallowed, and the processing of your return may be delayed.

Step 1:	 Figure your subtractions
	
	

River Edge Redevelopment Zone Dividend Subtraction
A	

Corporation’s name	

B	

	1	 a
	
	
		b
	
	c
	
	
	 2	 Enter any distributive share of River Edge Redevelopment Zone Dividend Subtraction from partnerships,
		 S corporations, trusts, or estates. Attach Schedule(s) K-1-P or K-1-T.			
	3		
Add Step 1, Column C, Lines 1a through 1c and Line 2, and enter the total here.			
	
	
	

C	

Name of zone 	

a
	b
c
2
3 	

High Impact Business within a Foreign Trade Zone (or sub-zone) Dividend Subtraction
A	

B	

Corporation’s name	

	

C	

Name of zone 	

Dividend amount

	 4		a
	
	a
		b
	
	b
		c
	
	 c
	5	Enter any distributive share of High Impact Business within a Foreign 	Trade Zone (or sub-zone) Dividend
		 Subtraction from partnerships, 	S corporations, trusts, or estates.
		
Attach Schedule(s) K-1-P or K-1-T.										

	6	Add Step 1, Column C, Lines 4a through 4c and Line 5, and enter the total here.		
	
	
	7	Add Step 1, Lines 3 and 6. Enter your total dividend subtraction here and on Schedule M, Line 24.	

5
6
7 	

This form is authorized as outlined under the Illinois Income Tax Act. Disclosure of
this information is required. Failure to provide information could result in a penalty.

Schedule 1299-C (R-12/23)

Printed by authority of the state of Illinois. Electronic only, one copy.

	

Dividend amount

Page 1 of 3

	

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Step 2: W
	 orksheets (Complete this step only if you earned any of these income tax credits during your current

tax year)

Research and Development
Follow the instructions on this worksheet to calculate the Research and Development credit amount to enter in Step 3, Column E.	

A

B

Base period avg. expenses		

8	 Enter the amounts from Schedule 1299-I, Line 6 of the Research and
Development Worksheet.	

This year’s expenses

	8

8	
9

	9	 Subtract Line 8, Column A from Line 8, Column B. If negative, enter zero.				
10	 Multiply Line 9 by 6.5% (.065).

		Enter the result here 	and in Step 3, Column E on the line with “5” in Column A and
Credit Code 5340 in Column B. 							

10

K-12 Instructional Materials and Supplies

		Follow the instructions on this worksheet to 	calculate the K-12 Instructional Materials and Supplies credit amount to enter in Step 3,
		Column E, if you were a teacher, instructor, counselor, principal, or aide that worked 900 or more hours in a K-12 school in Illinois.

A	

B

Primary taxpayer	

Spouse

11	 a Professional Educator License number, if applicable.	
b School name (Illinois only).		
c Total qualified expenses paid in 2023.	
d Enter the lesser of Line 11c or $500.	

12	 Add Line 11d, Column A, and Line 11d, Column B.

Enter the result here and in Step 3, Column E on the line
with “5” in Column A and Credit Code 5740 in Column B.

12

Adoption
Follow the instructions on this worksheet to 	calculate the Adoption credit amount to enter in Step 3, Column E.

Part 1 - Adopted Child Information
Child’s Name (first, last)	

Identifying	
Number	

	13

Final
in	2023

/

Month Year

14

/

Month Year

15

Month

Part 2 - Figure your credit	
16

IL
Birth	
Resident	
Date

a	Maximum credit allowed
	per child (see instructions).	
b	IL Adoption credit claimed
	 previously for this child.	

Child 1
(Line 13)	

Child 2	
(Line 14)	

/

Year

Child 3
(Line 15)

c	Subtract Line b from Line a.	
d	Qualified adoption expenses
	 (see instructions).	
e	Enter the lesser of Line c or Line d.	
f	Total amount of qualified adoption expenses from Line e.			
g	Illinois residents: Enter 1.0.
Nonresidents and part-year residents: Enter the decimal from Schedule NR, Line 48.
h Multiply Line f by Line g. Enter the result here and in Step 3, Column E
on the line with “5” in Column A and Credit Code 5780 in Column B.

Page 2 of 3

.

16
Schedule 1299-C (R-12/23)

*61612233W*
Step 3: Figure your Income Tax Credit (Complete Step 2 first, if applicable) See Schedule 1299-C Instructions for how to complete this Step.
17 	Enter your income tax from Form IL-1040, Line 14.
18 	Add the credit amounts from Form IL-1040, Lines 15 and 16, and enter here.
	

A	

B	

C	

D	

Years Left	 Credit	 IL Tax Year	
Identifying Number	
to Carry	 Code	 Credit Earned		

E	

Credit Earned	
or Carried	

18 	 _____________

	

19 Subtract Line 18 from Line 17. If the amount is zero or negative, enter zero.
	
	

17	 _____________

	
	

F	

Distributive	
Share or Transfer	

20	 Enter the amount from Line 19 here.	

G	

19	 _____________
H	

Total	
Calculation	
Credit		

I	

J

Credit	
Applied	

Credit
Carryforward

20	_____________

21	 ______	______	 _______	________________________	_____________	_____________	_____________	_____________	_____________	 _____________
22	 ______	______	 _______	________________________	_____________	_____________	_____________	_____________	_____________	 _____________
23	 ______	______	 _______	________________________	_____________	_____________	_____________	_____________	_____________	 _____________
24	 ______	______	 _______	________________________	_____________	_____________	_____________	_____________	_____________	 _____________
25	 ______	______	 _______	________________________	_____________	_____________	_____________	_____________	_____________	 _____________
26	 ______	______	 _______	________________________	_____________	_____________	_____________	_____________	_____________	 _____________
27	 ______	______	 _______	________________________	_____________	_____________	_____________	_____________	_____________	 _____________
28	 ______	______	 _______	________________________	_____________	_____________	_____________	_____________	_____________	 _____________
29	 ______	______	 _______	________________________	_____________	_____________	_____________	_____________	_____________	 _____________
30	 ______	______	 _______	________________________	_____________	_____________	_____________	_____________	_____________	 _____________
31	 ______	______	 _______	________________________	_____________	_____________	_____________	_____________	_____________	 _____________
32	 ______	______	 _______	________________________	_____________	_____________	_____________	_____________	_____________	 _____________
33	 ______	______	 _______	________________________	_____________	_____________	_____________	_____________	_____________	 _____________
34	 ______	______	 _______	________________________	_____________	_____________	_____________	_____________	_____________	 _____________
35	 ______	______	 _______	________________________	_____________	_____________	_____________	_____________	_____________	 _____________
36	 ______	______	 _______	________________________	_____________	_____________	_____________	_____________	_____________	 _____________
37	 ______	______	 _______	________________________	_____________	_____________	_____________	_____________	_____________	 _____________
38	 ______	______	 _______	________________________	_____________	_____________	_____________	_____________	_____________	 _____________
39	 ______	______	 _______	________________________	_____________	_____________	_____________	_____________	_____________	 _____________
40	 ______	______	 _______	________________________	_____________	_____________	_____________	_____________	_____________	 _____________
41	 ______	______	 _______	________________________	_____________	_____________	_____________	_____________	_____________	 _____________
42 Add the amounts in Column I and enter the total here.					42	
_____________	

43	 Follow the Schedule 1299-C Instructions to determine the amount of credit you may claim this year. Enter the amount here and on your
	

Form IL-1040, Line 17.	

43

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Schedule 1299-C (R-12/23)

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