Fillable Printable 2016 Form Il-1065, Partnership Replacement Tax Return
Fillable Printable 2016 Form Il-1065, Partnership Replacement Tax Return
2016 Form Il-1065, Partnership Replacement Tax Return
Page 1 of 5
IL-1065 (R-
07/17)
Illinois Department of Revenue
2016 Form IL-1065
Partnership Replacement Tax Return
See “When should I file?” in the Form IL-1065 instructions for a list of due dates.
If this return is not for calendar year 2016, enter your fiscal tax year here.
Tax year beginning
20 , ending 20
month day year month day year
For tax years ending on or after December 31, 2016. For prior years, use the form for that year.
Step 1: Identify your partnership
A Enter your complete legal business name.
If you have a name change, check this box.
Name:
B Enter your mailing address.
Check this box if either of the following apply:
• this is your first return, or
• you have an address change.
C/O:
Mailing address:
City:
State: ZIP:
C Check the applicable box if one of the following applies.
First return Final return (If final, enter the date. )
mm dd yyyy
D If this is a final return because you sold this business, enter the date sold
(mm dd yyyy) , and the new owner’s FEIN.
E Special Apportionment Formulas. If you use a special apportionment
formula, check the appropriate box and see Special Apportionment
Formula instructions.
Financial organizations Transportation companies
Federally regulated exchanges
F Check this box if you are:
classified as an investment partnership
classified as a publicly-traded partnership
G Check this box if you made an IRC § 761 election.
Step 2: Figure your ordinary income or loss (Whole dollars only)
1 Ordinary income or loss, or equivalent from federal Schedule K. 1
00
2 Net income or loss from all rental real estate activities. 2
00
3 Net income or loss from other rental activities. 3
00
4 Portfolio income or loss. 4
00
5 Net IRC Section 1231 gain or loss. 5
00
6 All other items of income or loss that were not included in the computation of income or loss on
Page 1 of U.S. Form 1065 or 1065-B. See instructions. Identify:
6
00
7 Add Lines 1 through 6. This is your ordinary income or loss. 7
00
Step 3: Figure your unmodified base income or loss
8 Charitable contributions. 8
00
9 Expense deduction under IRC Section 179. 9
00
10 Interest on investment indebtedness. 10
00
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 or 1065-B. See instructions. Identify:
11
00
12 Add Lines 8 through 11. 12
00
13 Subtract Line 12 from Line 7. This amount is your total unmodified base income or loss. 13
00
NS DR
H Enter your federal employer identification no. (FEIN).
I Check this box if you are a member of a unitary
business group and 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.
K Enter the city, state, and zip code where your
accounting records are kept. (Use the two-letter
postal abbreviation, e.g., IL, GA, etc.)
City State Zip
L If you are making the business income election to
treat all nonbusiness income as business income,
check this box and enter “0” on Lines 36 and 44.
M If you have completed the following, check the box
and attach the federal form(s) to this return.
Federal Form 8886 Federal Sch. M-3,
Part II, Line 10
N Check this box if you attached Form IL-4562.
O Check this box if you attached Illinois
Schedule M (for businesses).
P Check this box if you attached Schedule 80/20.
Q Check this box if you attached Schedule 1299-A.
Enter the amount you are paying.
$
Attach your payment and Form IL-1065-V here.
*163240001*
Use your mouse or Tab key to move through the fields. Use your mouse or space bar to enable check boxes.
Page 2 of 5
IL-1065 (R-07
/17)
Step 4: Figure your income or loss
14 Enter your unmodified base income or loss from Line 13. 14
00
15 State, municipal, and other interest income excluded from Line 14. 15
00
16 Illinois replacement tax deducted in arriving at Line 14. 16
00
17 Illinois Special Depreciation addition. Attach Form IL-4562. 17
00
18 Related-party expenses addition. Attach Schedule 80/20. 18
00
19 Distributive share of additions. Attach Schedule(s) K-1-P or K-1-T. 19
00
20 Guaranteed payments to partners from U.S. Form 1065 or 1065-B. 20
00
21 The amount of loss distributable to a partner subject to replacement tax.
Attach Schedule B. 21
00
22 Other additions. Attach Illinois Schedule M (for businesses). 22
00
23 Add Lines 14 through 22. This amount is your income or loss. 23
00
Step 5: Figure your base income or loss
24 Interest income from U.S. Treasury or other exempt federal obligations. 24
00
25 August 1,1969, valuation limitation amount. Attach Schedule F. 25
00
26 Personal service income or reasonable allowance for compensation of partners.
26
00
27 Share of income distributable to a partner subject to replacement tax.
Attach Schedule B.
27
00
28 River Edge Redevelopment Zone Dividend subtraction. Attach Schedule 1299-A. 28
00
29 High Impact Business Dividend subtraction. Attach Schedule 1299-A. 29
00
30 Illinois Special Depreciation subtraction. Attach Form IL-4562. 30
00
31 Related-party expenses subtraction. Attach Schedule 80/20. 31
00
32 Distributive share of subtractions. Attach Schedule(s) K-1-P or K-1-T. 32
00
33 Other subtractions. Attach Schedule M (for businesses). 33
00
34 Total subtractions. Add Lines 24 through 33. 34
00
35 Base income or loss. Subtract Line 34 from Line 23. 35
00
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
00
37 Business income or loss included in Line 35 from non-unitary partnerships, partnerships included on a
Schedule UB, S corporations, trusts, or estates. See Instructions.
37
00
38 Add Lines 36 and 37. 38
00
39 Business income or loss. Subtract Line 38 from Line 35. 39
00
40 Total sales everywhere. This amount cannot be negative. 40
00
41 Total sales inside Illinois. This amount cannot be negative. 41
00
42 Apportionment factor. Divide Line 41 by Line 40 (carry to six decimal places). 42
43 Business income or loss apportionable to Illinois. Multiply Line 39 by Line 42. 43
00
44 Nonbusiness income or loss allocable to Illinois. Attach Schedule NB. 44
00
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
00
46 Base income or loss allocable to Illinois. Add Lines 43 through 45. 46
00
*163240002*
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.)
B If any portion of the amount on Line 35 is derived outside Illinois, check this box and complete all lines of Step 6.
See instructions. (If you are a unitary filer, you must complete Lines 40 through 42.)
Page 3 of 5
IL-1065 (R-
07/17)
Step 7: Figure your net income
47 Base income or net loss from Step 5, Line 35, or Step 6, Line 46. 47
00
48 Illinois net loss deduction. Attach Schedule NLD. If Line 47 is zero or a negative amount, enter “0.” 48
00
49 Income after NLD. Subtract Line 48 from Line 47. 49
00
50 Enter the amount from Step 5, Line 35. 50
00
51 Divide Line 47 by Line 50. (Carry the result to six decimal places. This figure cannot be greater than “1.”) 51
52 Exemption allowance. Multiply Line 51 by $1,000. (Short-year filers, see instructions.) 52
00
53 Net income. Subtract Line 52 from Line 49. 53
00
Step 8: Figure your net replacement tax and pass-through withholding payments you owe
54 Replacement tax. Multiply Line 53 by 1.5% (.015). 54
00
55 Recapture of investment credits. Attach Schedule 4255. 55
00
56 Replacement tax before investment credits. Add Lines 54 and 55. 56
00
57 Investment credits. Attach Form IL-477. 57
00
58 Net replacement tax. Subtract Line 57 from Line 56. If the amount is negative, enter “0.” 58
00
59 Pass-through withholding payments you owe on behalf of your members. Enter the amount from
Schedule B, Section A, Line 9. See Instructions. Attach Schedule B.
59
00
60 Total net replacement tax and pass-through withholding payments you owe. Add Line 58 and Line 59. 60
00
Step 9: Figure your refund or balance due
61 Payments. See instructions.
a Credit from prior year overpayments. 61a
00
b Form IL-505-B (extension) payment. 61b
00
c Pass-through withholding payments reported to you on Schedule(s)
K-1-P or K-1-T. Attach Schedule(s) K-1-P or K-1-T.
61c
00
d Illinois gambling withholding. Attach Form(s) W-2G. 61d
00
e Form IL-516-I prepayments. 61e
00
f Form IL-516-B prepayments. 61f
00
62 Total payments. Add Lines 61a through 61f. 62
00
63 Overpayment. If Line 62 is greater than Line 60, subtract Line 60 from Line 62. 63
00
64 Amount to be credited forward. See instructions. 64
00
65 Refund. Subtract Line 64 from Line 63. This is the amount to be refunded. 65
00
66 Complete to direct deposit your refund
Routing Number
Checking or
Savings
Account Number
67 Tax Due. If Line 60 is greater than Line 62, subtract Line 62 from Line 60. This is the amount you owe. 67
00
If you owe tax on Line 67, complete a payment voucher, Form IL-1065-V. Write your FEIN, tax year ending, and “IL-1065-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 10: Sign here
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.
Check this box if the Department may
discuss this return with the paid
preparer shown in this step.
Signature of partner
Signature of paid preparer
Paid preparer’s firm name Address Phone
Date
Date
Title
Paid preparer’s PTIN
Phone
( )
( )
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.
If a payment is not enclosed,
mail this return to:
If a payment is enclosed,
mail this return to:
Illinois Department of Revenue Illinois Department of Revenue
P.O. Box 19031 P.O. Box 19053
Springfield, IL 62794-9031
Springfield, IL 62794-9053
*163240003*
Illinois Department of Revenue
Year ending
2016 Schedule B Partners’ or Shareholders’ Information
Attach to your Form IL-1065 or Form IL-1120-ST.
Month Year
Enter your name as shown on your Form IL-1065 or Form IL-1120-ST. Enter your federal employer identification number (FEIN).
Read this information first
• Yo
u must read the Schedule B instructions and complete Schedule(s) K-1-P and Schedule(s) K-1-P(3) or Schedule(s) K-1-P(3)-FY, 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 Department. 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)
Be
fore completing this section you must first complete Schedule(s) K-1-P, Schedule(s) K-1-P(3) or Schedule(s) K-1-P(3)-FY, 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
1
2
2
3
Enter the total of all nonbusiness income or loss you reported on Schedule(s) K-1-P for your members. See instructions.
Enter the total of all income and replacement tax credits you reported on Schedule(s) K-1-P and K-1-P(R&D) for your members.
See instructions.
Add the amounts shown on Schedule B, Section B, Column E for all partners or shareholders on all pages for which you have entered
a check mark in Column D. 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, Column J for your nonresident
individual members. See instructions.
4
5 Enter the total pass-through withholding you reported on all pages of your Schedule B, Section B, Column J for your nonresident
estate members. See instructions.
5
6 Enter the total pass-through withholding you reported on all pages of your Schedule B, Section B, Column J for your partnership
and S corporation members. See instructions.
6
7 Enter the total pass-through withholding you reported on all pages of your Schedule B, Section B, Column J for your nonresident trust
members. See instructions.
7
8 Enter the total pass-through withholding you reported on all pages of your Schedule B, Section B, Column J for your C corporation
members. See instructions.
8
9 Add Line 4 through Line 8. 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, Column J for all nonresident partners or shareholders on all
pages. Enter the total here and on Form IL-1065, Line 59, or Form IL-1120-ST, Line 58. See instructions.
9
Attach all pages of Schedule B, Section B behind this page.
IL Attachment no. 1
*163080001*
Schedule B front (R-07/17)Page 4 of 5
Schedule B back (R-07/17) Page 5 of 5
Illinois Department of Revenue
2016 Schedule B
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.)
A B C D E F G H I J
Subject to Member’s Excluded Share of
Partner Illinois distributable from Illinois income Pass-through Pass-through
or SSN replacement amount pass-through subject to withholding Distributable withholding
Shareholder or tax or an of base withholding pass-through before share of payment
Name and Address type FEIN ESOP income or loss payments withholding credits credits amount
1
2
3
4
5
If you have more members than space provided, attach additional copies of this page as necessary.
(If Column F is blank, complete Column G through Column J. Otherwise, enter zero
in Column G through Column J.)
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Name
C/O
Addr. 1
Addr. 2
City
State Zip
Name
C/O
Addr. 1
Addr. 2
City
State Zip
Name
C/O
Addr. 1
Addr. 2
City
State Zip
Name
C/O
Addr. 1
Addr. 2
City
State Zip
Name
C/O
Addr. 1
Addr. 2
City
State Zip
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