- From the Input Return tab, go to Income ⮕ Passthrough K-1's ⮕ S Corp Info (1120S K-1).
- Make sure you are in the correct K-1 activity by selecting the tab with the name of the S Corp this information applies to along the top of this screen.
- Go to the State & Local tab.
- Scroll down to the Illinois Shareholder Share of IL Credits, Recapture and Payments {IL} section
Under the IL Income Tax Credits section:
This input screen is used to create an electronic copy of the IL Schedule K-1-P. Please enter the corresponding information from the Schedule K-1-P, Partner’s Share of Credits. Entries in these input fields will be totaled and included on the IL-1299 Credit Form Column F ‘Distributive Share’ with the corresponding Credit Code.
- Film Production Services Tax Credit (5000)
- Enterprise Zone Credit (5080)
- Enterprise Zone Construction Jobs Credit (5120)
- High Impact Business Construction Jobs Credit (5160)
- Affordable Housing Donations Credit (5260)
- EDGE Tax Credit (5300)
- New Construction EDGE Credit (5320)
- Research and Development Tax Credit (5340)
- Wages paid Ex-Felons Jobs Credit (5380)
- Student-Assistance Contribution Credit (5420)
- Angel Credit (5460)
- New Markets Credit (5500)
- River Edge Historic Preservation Credit (5540)
- River Edge Construction Jobs Credit (5560)
- Live Theater Production Credit (5580)
- Hospital Credit (5620)
- Invest In Kids Credit (5660)
- Data Center Construction Employment Credit (5820)
- Apprenticeship Education Credit (0160)
- Historic Preservation Credit (1030)
- REV Illinois Investment (5230)
- Agritourism Liability Insurance Credit (5440)
- Recovery an Mental Health Credit (0180)
Under Other Credits:
- Pass-through Entity Tax Credit
- Replacement Tax Investment Credits
Under the Recapture section:
This input screen is used to create an electronic copy of the IL Schedule K-1-P. Please enter the corresponding information from the Schedule K-1-P, Shareholder’s Share of Income, Deductions, Credits, and Recapture. Entries in these input fields do not impact the amounts reported on the Illinois income tax return.
- Enterprise Zone/River Edge Zone Investment credit recapture
- REV Illinois Investment Credit recapture
- Replacement Tax Investment Credits recapture
- Additional Income Tax Credit recapture
Under the Payments section:
This input screen is used to create an electronic copy of the IL Schedule K-1-P. Please enter the corresponding information from the Schedule K-1-P, Shareholder’s Share of Income, Deductions, Credits, and Recapture. Entries in these input fields do not impact the amounts reported on the Illinois income tax return.
- Pass-through entity payment
- Medical Cannabis Program Act Surcharge
- Assets by a gaming licensee surcharge
