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Illinois Free Printable 2019 Schedule J, Foreign Dividends for 2021 Illinois Form 1120 Foreign Dividends

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Form 1120 Foreign Dividends
2019 Schedule J, Foreign Dividends

Use your mouse or Tab key to move through the fields. Use your mouse or space bar to enable check boxes. *33712191W* Illinois Department of Revenue Schedule J Year ending Foreign Dividends ____ ____ Month Year IL Attachment No. 10 Attach to your Form IL-1120 Enter your name as shown on your Form IL-1120. Enter your federal employer identification number (FEIN). Step 1: Figure your subtraction The line references in each item refer to U.S. 1120, Schedule C, and must be used to complete Columns A and B. If you did not file a U.S. 1120, Schedule C, **use the corresponding lines from the federal schedule you filed (see the list under “What must I attach to Schedule J?”). If you had an IRC limitation, complete Column A, then refer to Step 2 on the back for the correct amounts to enter in Column B, Lines 1 through 3. Do not include any dividends received from a domestic corporation. A B C D Enter the following amounts Foreign dividends received Federal special deduction Net amount from **Federal Schedule C: (U.S. Schedule C, Column (a)) (U.S. Schedule C, Column (c)) (Col. A minus Col. B) Illinois percentage 1 Line 6. 2 the portion of Line 7 50% (.50) = 1 that is from 80% or greater owned foreign corporations. 3 the portion of Line 7 that is from less than 80% owned foreign corporations. 4 the portion of Line 14 that is from 80% or greater owned foreign corporations. 5 the portion of Line 14 that is from 20% or more but less than 80% o wned foreign corporations. 6 the portion of Line 14 that is from less than 20% owned foreign corporations. 7 the portion of Line 15 that is from 80% or greater owned foreign corporations. 8 the portion of Line 15 that is from 20% or more but less than 80% owned foreign corporations. 9 the portion of Line 15 that is from less than 20% owned foreign corporations. 10 the portion of Line 16b and 16c that is from 80% or greater owned foreign corporations. 11 the portion of Line 16b and 16c that is from 20% or more but less than 80% owned foreign corporations. 12 the portion of Line 16b and 16c that is from less than 20% owned foreign corporations. Schedule J Front (R-12/19) X X 100% (1.00) = 2 X 65% (.65) = 3 X 100% (1.00) = 4 (See Instructions) (See Instructions) (See Instructions) X 65% (.65) = 5 X 50% (.50) = 6 X 100% (1.00) = 7 X 65% (.65) = 8 X 50% (.50) = 9 X 100% (1.00) = 10 X E Foreign dividend subtraction 65% (.65) = 11 X 50% (.50) = 12 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. A *33712192W* B C D Enter the following amounts Foreign dividends received Federal special deduction Net amount Illinois from **Federal Schedule C: (U.S. Schedule C, Column (a)) (U.S. Schedule C, Column (c)) (Col. A minus Col. B) percentage E Foreign dividend subtraction 13 the portion of Line 17 that is from 80% or greater owned foreign corporations. 14 the portion of Line 17 that is from 20% or more but less than 80% owned foreign corporations. 15 the portion of Line 17 that is from less than 20% owned foreign corporations. 16 the portion of Line 20 that is from 80% or greater owned foreign corporations or captive REITs. X 100% (1.00) = 13 (See Instructions) (See Instructions) (See Instructions) X 65% (.65) = 14 X 50% (.50) = 15 X 100% (1.00) = 16 17 the portion of Line 20 that is from 20% or more but less than 80% owned foreign corporations or captive REITS. X 65% (.65) = 17 X 50% (.50) = 18 18 the portion of Line 20 that is from less than 20% owned foreign corporations or captive REITs. 19 Add the amounts in Column E. 19 20 Enter the amount of IRC Section 78, foreign dividend gross-up from your U.S. Schedule C, Line 18. 2 0 21 Add Lines 19 and 20. Enter the result here and on Form IL-1120, Step 3, Line 17. This is your total foreign dividend subtraction. 21 Step 2: Complete this step only if you had an IRC limitation You must complete Step 2 if the amount on U.S. Schedule C, Line 9, is less than the total of the amounts on U.S. Schedule C, Column (c), Lines 1 through 8, due to the IRC limitation (see U.S. Schedule C, Line 9, Column (c) instructions). 1 Enter the amount from U. S. Schedule C, Line 9. 1 2 Add the amounts on U.S. Schedule C, Column (c), Lines 1 through 8. Enter the total here. 3 Divide Line 1 by Line 2 (carry to six decimal places). 2 3 Enter the result here and on Column B, Lines 4 through 6, below. A 4 Enter the amount from B Federal special deduction Decimal from Line 3 above C Limited federal special deduction (Col. A X Col. B) U.S. Schedule C, Column (c), Line 6. X = 4 5 Enter the portion of U.S. Schedule C, Column (c), Line 7, that is from 80% or greater owned foreign corporations. X = 5 6 Enter the portion of U.S. Schedule C, Column (c), Line 7, that is from less than 80% owned foreign corporations. X = 6 7 Enter the amounts on Column C, Lines 4 through 6, on Step 1, Column B, Lines 1 through 3, respectively, and complete Step 1. Printed by the authority of the State of Illinois - web only, 1 copy Reset Schedule J Back (R-12/19) Print
Extracted from PDF file 2019-illinois-schedule-j.pdf, last modified July 2019

More about the Illinois Schedule J Corporate Income Tax

We last updated the Form 1120 Foreign Dividends in March 2020, and the latest form we have available is for tax year 2019. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the Illinois Department of Revenue. You can print other Illinois tax forms here.


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Other Illinois Corporate Income Tax Forms:

TaxFormFinder has an additional 75 Illinois income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form IL-1120-ST-V Payment Voucher for Small Business Corporation Replacement Tax
Schedule K-1-T Beneficiary's Share of Income and Deductions
Form IL-516-B Pass-through Prepayment [OBSOLETE]
Form IL-1065-V Payment Voucher for Partnership Replacement Tax
Schedule K-1-P Partner's or Shareholder's Share of Income, Deductions, Credits, and Recapture

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 J from the Department of Revenue in March 2020.

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 J

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


2019 Schedule J

2019 Schedule J, Foreign Dividends

2018 Schedule J

Schedule J, Foreign Dividends

2016 Schedule J

Schedule J, Foreign Dividends

Foreign Dividends 2015 Schedule J

(2015) (IL-1120) Schedule J, Foreign Dividends

Schedule J Foreign Dividends 2014 Schedule J

Schedule J Foreign Dividends


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