Form 1065 Schedule B print requirements
To print, calculate, or suppress Schedule B Partners' or Shareholders' Information:
- Go to .
- Make sure at least1 partneris added.
- Do a full recompute, then print.
If the form doesn’t print, check if it's suppressed:
- InOrganizer, selectStatefolder, thenCommon State.
- SelectPrint Suppressionand make sure theState Formscolumn is clear forIllinois.
- Do a full recompute, then print.
To view the IL-1065 Schedule B in the tax forms, go to .
Columns A through C
will pull from the partner information screen in the Organizer.Column D
applies to partners other than individuals, estates, or grantor trusts. Go to , scroll to the section for Illinois, and select the checkbox for
Personal property replacement tax applies
.Column E
is computed by taking the partner's ratio multiplied by Form IL-1065, Page 2, Line 14. To allocate the amount in Column E, go to and either specially allocate the amounts that make up Form IL-1065, Lines 1 through 11, or use the line for
Sch B - Total amount of base income (loss) distributable
.Column F
is populated by going to , scrolling to the section for Illinois, and making a selection for Partner was excluded from pass-through entity payments
.Column H
equals the total amount on Step 3, Line 13, and Step 3, Line 16, of the Schedule K-1-P(3) for the member.Column I
equals the total amount on Step 3, Line 14, and Step 3, Line 17, of the Schedule K-1-P(3) for the member.Column J
equals the difference between Column H and Column I. To override the amount, go to . Scroll to the section for Illinois and enter the amount on the line for Pass-through entity Payment (Override)
. This needs to be entered on a partner by partner basis, but this field is part of the
partner information export file
. note
If you have many partners or existing spreadsheet data, export the partner information, enter the amounts, and re-import. This can be done through within a locator.
