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Screen IL1299 - Illinois Business Credits (1040)

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Overview

Use this screen to prepare Schedule 1299-C.

Zone Subtraction

Use this section to complete Schedule 1299-C, Step 2.

River edge redevelopment zone or High impact business dividend subtraction

Enter the amounts for both the River Edge Redevelopment Zone and
High Impact Business Dividend Subtractions. Enter 2
for High Impact Business dividend subtraction or 3
for River Edge Redevelopment subtraction. The total dividend subtraction is also automatically added to Form IL-1040, Schedule M, Page 2.

Distributive share from partnerships / S corporations and Estate and Trusts (Force): River edge redevelopment zone dividend subtraction / High impact business dividend subtraction

UltraTax CS uses the accumulated amounts from the K-1-P and K-1-T Worksheets. Use these fields to enter an amount if different from the calculated amount.

Two Year Credits

Use this section to complete Schedule 1299-C, Step 3, Section A.

Five Year Credits

UltraTax CS uses the information entered in this section to complete Schedule 1299-C, Step 3, Section B.

Film production service tax credit awarded this year by DCEO

Enter the amount of credit from the tax credit certificate received from DCEO.

Film production service tax credit awarded this year by DCEO: Distributive share from partnerships and S corporations (Force)

UltraTax CS uses the accumulated amount from the K-1-P Worksheets. Use this field to enter an amount if different from the calculated amount.

High impact business investment credit qualified property

The amounts you enter in this statement dialog print in detail on Schedule 1299-C or on an attached statement when there are more than three lines.

Enterprise zone investment credit qualified property

The amounts you enter in this statement dialog print in detail on Schedule 1299-C or on an attached statement when there are more than three lines.

Enterprise zone investment credit qualified property: Distributive share of Enterprise zone from partnerships and S corporations (Force)

UltraTax CS uses the accumulated amount from the K-1-P Worksheets. Use this field to enter an amount if different from the calculated amount.

Edge tax credit awarded this year by DCEO: Distributive share from partnerships and S corporations (Force)

UltraTax CS uses the accumulated amount from the K-1-P Worksheets. Use this field to enter an amount if different from the calculated amount.

Affordable housing donations to eligible sponsors: Distributive share from partnerships and S corporations (Force)

UltraTax CS uses the accumulated amount from the K-1-P Worksheets. Use this field to enter an amount if different from the calculated amount.

Research and development credit: Distributive share from partnerships and S corporations (Force)

UltraTax CS uses the accumulated amount from the K-1-P Worksheets. Use this field to enter an amount if different from the calculated amount.

Ex-Felons job credit

The amounts entered in this statement dialog print in detail on Schedule 1299-C or on an attached statement when there are more than three lines.

Ex-felons job credit: Distributive share from partnerships and S corporations (Force)

UltraTax CS uses the accumulated amount from the K-1-P Worksheets. Use this field to enter an amount if different from the calculated amount.

Student-Assistance credit

The amounts entered in this statement dialog print in detail on Schedule 1299-C or on an attached statement when there are more than three lines.

Student-Assistance credit: Distributive share from partnerships and S corporations (Force)

UltraTax CS uses the accumulated amount from the K-1-P Worksheets. Use this field to enter an amount if different from the calculated amount.

New Markets tax credit awarded this year by DCEO: Distributive share from partnerships and S corporations (Force)

UltraTax CS uses the accumulated amount from the K-1-P Worksheets. Use this field to enter an amount if different from the calculated amount.

Angel investor tax credit awarded this year by DCEO: Distributive share from partnerships and S corporations (Force)

UltraTax CS uses the accumulated amount from the K-1-P Worksheets. Use this field to enter an amount if different from the calculated amount.

River Edge historic preservation credit: Distributive share from partnerships and S corporations (Force)

UltraTax CS uses the accumulated amount from the K-1-P Worksheets. Use this field to enter an amount if different from the calculated amount.

Live theatre production tax credit: Distributive share from partnerships and S corporations (Force)

UltraTax CS uses the accumulated amount from the K-1-P Worksheets. Use this field to enter an amount if different from the calculated amount.

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