Illinois Amended Fiduciary Income and Replacement Tax Return (Includes Schedule D)

Amended Fiduciary Income and Replacement Tax Return (Includes Schedule D)
2023 IL-1041-X - Amended Fiduciary Income and Replacement Tax Return
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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.

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Page 5 of 5