Skip to main content
 
 
 
 
Taxpayer Answer Center

Quick Links

Information For

About IDOR

Got Questions?

How can I best help my partners, shareholders, and beneficiaries comply with Illinois filing requirements?

Answer #688 -- ( Published 07/10/2007 10:53 AM | Updated 07/12/2017 10:38 AM )

How can I best help my partners, shareholders, and beneficiaries comply with Illinois filing requirements?

For tax years ending on or after December 31, 2014:

You must use Illinois Schedule B for partners and shareholders or Illinois Schedule D for beneficiaries to supply us with a listing of your partners, shareholders, or beneficiaries, certain items of income and credits they received from you, and pass-through withholding payments you made on their behalf, if applicable. Pass-through withholding payments you made on behalf of your nonresident members are reported to your nonresident members on Schedule K-1-P and are based on items of business income and certain items of nonbusiness income only. If your nonresident members had Illinois income from other sources and the payments made on their behalf do not cover their liability, they must file a return to report the tax on all of their Illinois income and claim a credit for pass-through withholding payments you made on their behalf.

Current year forms and instructions are linked below. Prior year forms and instructions for each tax type can be found by clicking the "Prior Years" link on our Business Tax Forms page and selecting the corresponding year.

Partnerships and S corporations:

Trusts:

For tax years ending before December 31, 2014:

Prior year forms and instructions for each tax type can be found by clicking the "Prior Years" link on our Business Tax Forms page and selecting the corresponding year.

Partnerships and S corporations:

  • File an IL-1000, Pass-through Entity Payment Income Tax Return for your nonresident partners and shareholders or file an IL-1023-C, Composite Income and Replacement Tax Return, for your nonresident individual partners and shareholders.
  • Complete an Illinois Schedule K-1-P, Partner's or Shareholder's Share of Income, Deductions, Credits, and Recapture, for each partner or shareholder.
  • Mail each partner or shareholder their completed Schedule K-1-P by the extended due date of your Illinois Income Tax return. Be sure to include a copy of Schedule K-1-P(2), Partner's and Shareholder's Instructions.
  • If your partners or shareholders contact you with questions you cannot answer, refer them to the Illinois Department of Revenue or their tax professional. All tax forms are available on our website.

Trusts:

  • File an IL-1000, Pass-through Entity Payment Income Tax Return for your nonresident beneficiaries.
  • Complete an Illinois Schedule K-1-T, Beneficiary's Share of Income and Deductions, for each beneficiary.
  • Mail each beneficiary their completed Schedule K-1-T by the extended due date of your Illinois Income Tax return. Be sure to include a copy of Schedule K-1-T(2), Beneficiary's Instructions.
  • If your beneficiaries contact you with questions you cannot answer, refer them to the Illinois Department of Revenue or their tax professional. All tax forms are available on our website.

Answers others found helpful


Submit a question

:
:

: