Use the Illinois Shareholder Share of IL Credits, Recapture, and Payments {IL} section of Screen 20.2, S Corporation Information, to enter IL credits.
IL Credits - 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)(only 2021)
- High Impact Business Construction Jobs Credit (5160)(only 2021)
- Affordable Housing Donations (5260)
- EDGE Tax Credit (5300)
- New Construction EDGE Credit (5320)(2021 only)
- 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) (only 2021)
- Live Theater Production Credit (5580)
- Hospital Credit (5620)
- Invest in Kids Credit (5560)
- Data Center Construction Employment Credit (5820)
- Apprenticeship Education Credit (0160)
- Historic Preservation Credit (1030)
- Replacement Tax Investment Credits
Recapture - 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
- Replacement Tax Investment Credits Recapture
- Angel Investment Credit recapture
Payments - 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
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