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Illinois Gains from Sales or Exchanges of Property Acquired Before August 1, 1969
Extracted from PDF file 2025-illinois-form-schedule-f.pdf, last modified July 2021Gains from Sales or Exchanges of Property Acquired Before August 1, 1969
Use your mouse or Tab key to move through the fields. Use your mouse or space bar to enable check boxes. *61412211W* Illinois Department of Revenue Gains from Sales or Exchanges of Property Acquired Before August 1, 1969 / Schedule F Tax year ending IL Attachment No. 16 Attach to your Form IL-1040 (Include copies of your federal Schedule D, and, if filed, federal Forms 4797, 6252, and 8949.) Step 1: Provide the following information Your name as shown on Form IL-1040 – – Your Social Security number Step 2: August 1, 1969, Valuation Limitation Amounts for Capital (Non-depreciable) Assets For installment sales, see instructions on the back of this schedule. Column A Column C Column D Date sold (mo./yr.) Federal gain in taxable year Aug. 1, 1969, value (or applicable fraction) Federal tax basis on August 1, 1969 (see instructions) _______ 00 __________ _______ 00 _______ 00 _______ 00 _______ 00 __________ _______ 00 _______ 00 _______ 00 c _______ 00 __________ _______ 00 _______ 00 _______ 00 d _______ 00 __________ _______ 00 _______ 00 _______ 00 e _______ 00 __________ _______ 00 _______ 00 _______ 00 Column B Description of property (If other than a listed security, see instructions.) Date acquired (mo./yr.) 1 a b Column E Column F Column G Column H Column E Smaller of minus Column F (or Column D fraction in E times D) or Column G 2 Enter your share of August 1, 1969, valuation limitation amounts from partnerships, S corporations, trusts, and estates. See instructions. 2 _______ 00 3 Enter the amount from your Form IL-4644, Line 18, if required. 3 _______ 00 4 Total - Add Lines 1 through 3. Enter the amount here and on Line 9 below. 4 _______ 00 Step 3: August 1, 1969, Valuation Limitation Amounts for Property Used in Trade or Business For installment sales, see instructions on the back of this schedule. Column A Column B Column C Column D Column D1 Column D2 Column E Column F Column G Column H Column I Description Date Date Federal gain Section Section Aug. 1, 1969, Federal tax Col. E minus Smaller of Smaller of of property acquired sold in taxable year 1245 & 1250 1231 gain value (or basis on Col. F (or fraction Col. D1 or (Col. G minus (mo./yr.) (mo./yr.) gain applicable Aug. 1, 1969 in E times D) Col. G H) or Col. D2 fraction) 5 a _____ 00 _____ 00 _____ 00 ________ _____ 00 _____ 00 _____ 00 _____ 00 b _____ 00 _____ 00 _____ 00 ________ _____ 00 _____ 00 _____ 00 _____ 00 c _____ 00 _____ 00 _____ 00 ________ _____ 00 _____ 00 _____ 00 _____ 00 d _____ 00 _____ 00 _____ 00 ________ _____ 00 _____ 00 _____ 00 _____ 00 e _____ 00 _____ 00 _____ 00 ________ _____ 00 _____ 00 _____ 00 _____ 00 6 Enter your share of August 1, 1969, valuation limitation amounts from partnerships, S corporations, trusts, and estates. 6 _____ 00 _____ 00 7 Total - Add Column H, Lines 5 and 6. Enter the amount here and on Line 16 below. 7 _____ 00 _____ 00 8 Total - Add Column I, Lines 5 and 6. Enter the amount here and on Line 10 below. Only enter on Line 10 if federal Form 1040 or 1040-SR, Schedule D, Line 11 shows a gain. Step 4: August 1, 1969, Valuation Limitation Amount. This part must be completed. 8 _______ 00 9 Enter the amount from Line 4. 9 _______ 00 10 Enter the amount from Line 8. 10 _______ 00 11 Add Lines 9 and 10. 11 _______ 00 12 Enter net capital gain, if any, from federal Form 1040 or 1040-SR, Schedule D, Line 16. Otherwise, enter zero. 12 _______ 00 13 Enter the amount from Form IL-4644, Line 13, if required. 13 _______ 00 14 Subtract Line 13 from Line 12. If Line 13 is equal to or greater than Line 12, enter zero. 14 _______ 00 15 Enter the smaller of Line 11 or Line 14. 15 _______ 00 16 Enter the amount from Line 7. 16 _______ 00 17 August 1, 1969, valuation limitation amount - Add Lines 15 and 16. Enter the amount here and on Schedule M, Other Additions and Subtractions for Individuals, Line 23. Attach this schedule to your IL-1040. IL-1040 Schedule F Front (R-12/21) Printed by authority of the State of Illinois, web only, 1. 17 _______ 00 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. *61412212W* Your name as shown on your Form IL-1040 Your Social Security number - - Installment Sales If on your federal Form 1040 or 1040-SR, Schedule D, federal Form 8949, or federal Form 4797, you reported gain from an installment sale of property you acquired before August 1, 1969, complete Schedule F for those sales by following the instructions below. If for federal tax purposes you filed federal Form 6252 but were not required to file federal Form 4797, attach to your Schedule F: (1) a statement that you were not required to file federal Form 4797, and (2) a copy of the federal Form 6252 as filed. Installment Sales before August 1, 1969 Installment Sales on or after August 1, 1969 Step 2 of Schedule F Step 2 of Schedule F Columns A through C – Follow instructions for Schedule F. Column D – Enter ‘‘INST’’ to indicate installment. Columns E through G – Leave blank. Column H – Enter the amount of gain from this sale reported this year on your federal Form 1040 or 1040-SR, Schedule D or federal Form 8949. Columns A through F – Follow instructions for Schedule F. Column G – Complete the worksheet below and enter in this column the amount from Column 5 of the worksheet. Line 1 Step 3 of Schedule F Line 1 The heading for Column G does not describe this entry. Column H – Follow instructions for Schedule F. Step 3 of Schedule F Line 5 Line 5 Columns A through C – Follow instructions for Schedule F. Column D – Enter ‘‘INST’’ to indicate installment. Columns D1 through G – Leave blank. Column H – Enter the amount of Section 1245 or 1250 gain from this sale reported this year on your federal Form 4797 or 6252. Column I – Enter the amount of Section 1231 gain from this sale reported this year on your federal Form 4797 or 6252. Columns A through F – Follow instructions for Schedule F. Column G – Complete the worksheet below and enter in this column the amount from Column 5 of the worksheet. The heading for Column G does not describe this entry. Columns H and I – Follow instructions for Schedule F. Step 4 of Schedule F Lines 9 through 17 – Follow instructions for Schedule F. Step 4 of Schedule F Lines 9 through 17 – Follow instructions for Schedule F. Column G Worksheet Column 1 Total gain a ________________ 00 b ________________ 00 c ________________ 00 d ________________ 00 e ________________ 00 Column 2 Fraction Column 3 Column 1 times Column 2 or, from Schedule F, Column E minus Column F ________________ ________________ ________________ ________________ ________________ Column 4 Total gain reported in prior years 00 ________________ 00 ________________ 00 ________________ 00 ________________ 00 ________________ Column 5 Column 3 minus Column 4 Enter this amount in Column G (If negative, enter zero) 00 ________________ 00 ________________ 00 ________________ 00 ________________ 00 ________________ 00 00 00 00 00 Instructions for Column G Worksheet For each installment sale after July 31, 1969, reported on Schedule F: Column 1 - Enter the total federal gain realized on the sale. This is your entire gain and not just the gain reported this year. Column 2 - Enter the fraction, if any, from Schedule F, Column E. Column 3 - If you entered a fraction in Column 2 of this worksheet, multiply Column 1 by that fraction. If Column 2 is blank, subtract Column F from Column E on Schedule F and enter the amount. Column 4 - Enter the total gain reported on your federal income tax returns in prior years. Column 5 - Subtract Column 4 from Column 3. Enter that amount here and on Schedule F, Column G, Step 2 or Step 3, as appropriate. If this amount is negative, enter zero. IL-1040 Schedule F Back (R-12/21) Reset Print
2025 Schedule F - Gains from Sales or Exchanges of Property Acquired Before August 1, 1969
More about the Illinois Form Schedule F Individual Income Tax TY 2025
This form is used to determine the amount of appreciation that is attributed for a certain type of property that you have acquired before August 1, 1969.
We last updated the Gains from Sales or Exchanges of Property Acquired Before August 1, 1969 in February 2026, so this is the latest version of Form Schedule F, fully updated for tax year 2025. You can download or print current or past-year PDFs of Form Schedule F directly from TaxFormFinder. You can print other Illinois tax forms here.
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| Form Code | Form Name |
|---|---|
| Form IL-1040-PTR | ​Property Tax Rebate Form |
| Form IL-1040 | Individual Income Tax Return |
| Schedule ICR | Illinois Tax Credits |
| Schedule NLD | Illinois Net Loss Deduction |
| Schedule NR-1040 | Nonresident and Part-Year Resident Computation of Illinois Tax |
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 Form Schedule F from the Department of Revenue in February 2026.
About the Individual Income Tax
The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.
Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!
Historical Past-Year Versions of Illinois Form Schedule F
We have a total of four past-year versions of Form Schedule F in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2025 Form Schedule F
2025 Schedule F - Gains from Sales or Exchanges of Property Acquired Before August 1, 1969
2024 Form Schedule F
Form IL-1041 Schedule F, Gains from Sales or Exchanges of Property Acquired Before August 1, 1969
2023 Form Schedule F
Form IL-1041 Schedule F, Gains from Sales or Exchanges of Property Acquired Before August 1, 1969
2022 Form Schedule F
Form IL-1041 Schedule F, Gains from Sales or Exchanges of Property Acquired Before August 1, 1969
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