If you received a Schedule K-1-T from a trust or estate, you may need to enter information from that schedule on your Illinois return. Schedule K-1-T reports your share of income, deductions, credits, withholding, and other tax items passed through from a trust or estate. Illinois uses this information to calculate certain additions, subtractions, credits, and payments on your individual tax return.
What Is Schedule K-1-T?
Schedule K-1-T, Beneficiary's Share of Income and Deductions, is issued by an Illinois trust or estate to its beneficiaries.
The schedule may report:
- Income distributed to you
- Illinois additions and subtractions
- Illinois withholding paid on your behalf
- Tax credits passed through to you
- Other items that affect your Illinois return
If you received a Schedule K-1-T, you should have a copy from the trust or estate administrator to use when completing your return.
Who Needs to Enter Schedule K-1-T Information?
You may need to complete this section if:
- You received Schedule K-1-T from an Illinois trust.
- You received Schedule K-1-T from an Illinois estate.
- The schedule reports Illinois income, deductions, credits, withholding, or other items that apply to you.
If you did not receive a Schedule K-1-T, you can generally skip this section.
What Information Do I Need?
Before entering Schedule K-1-T information, gather:
- Your Schedule K-1-T
- The trust or estate name
- The trust or estate federal EIN
- The tax year information shown on the schedule
- Any apportionment factor reported on the schedule
- Any income, credits, or withholding amounts passed through to you
How Do I Enter Schedule K-1-T Information?
Step 1: Open the Schedule K-1-T Section
Navigate to the Schedule K-1-T interview within your Illinois return.
Step 2: Enter Trust or Estate Information
Complete the fields shown on the Trust or Estate Information screen, including:
- Tax year ending date (if not a calendar year)
- Trust or estate name
- Federal Employer Identification Number (EIN)
- Whether the entity is a trust
- Apportionment factor, if provided
Step 3: Enter Amounts From Schedule K-1-T
Continue through the interview and enter any:
- Income
- Additions
- Subtractions
- Credits
- Illinois withholding
- Other items reported on your Schedule K-1-T
Step 4: Review Your Illinois Return
After completing the interview:
- Review your Illinois return.
- Verify that withholding, credits, and income items were carried correctly.
- Continue through the remainder of the Illinois filing process.
Program Path
State Return > Illinois Return > Misc Forms > Schedule K-1-T - Beneficiary's Share of Income and Deductions
Use the information from your Illinois Schedule K-1-T when completing the interview.
Frequently Asked Questions
What is an apportionment factor?
An apportionment factor represents the percentage of business activity attributable to Illinois. If your Schedule K-1-T includes an apportionment factor, enter it exactly as shown on the schedule.
Where do I find the trust or estate EIN?
The EIN is shown on Schedule K-1-T and is provided by the trust or estate issuing the schedule.
What if the trust or estate uses a fiscal year?
If the trust or estate does not use a calendar year, enter the tax year ending date shown on the Schedule K-1-T.
Does Schedule K-1-T affect my Illinois refund?
It can. Schedule K-1-T may include Illinois withholding, credits, additions, subtractions, or income items that affect your tax liability or refund.
Do I need to attach Schedule K-1-T?
Illinois instructs taxpayers to keep supporting documentation and provide it when required. The software may include the necessary information electronically when filing.
Helpful Tips
- Enter the trust or estate information exactly as shown on Schedule K-1-T.
- Verify the EIN before filing.
- Enter apportionment factors exactly as reported, including decimal places.
- Keep a copy of Schedule K-1-T with your tax records.
- Review your Illinois withholding and credits after completing the interview to ensure they were reported correctly.
Additional Information
Illinois Schedule K-1-T information may affect several areas of your return, including income, additions, subtractions, credits, and pass-through withholding. Beneficiaries should carefully review all amounts reported on Schedule K-1-T before filing their Illinois return.