Illinois DOR Issues Instructions for Completing Amended Fiduciary Income, Replacement Tax Return Form IL-1041-X

The Illinois Department of Revenue (DOR) Dec. 1 issued general and specific instructions for completing 2020 Form IL-1041-X, Amended Fiduciary Income and Replacement Tax Return, for trust income tax purposes. The instructions include information on: 1) filing requirements; 2) the amendment of the return; 3) attachments to the form; 4) Illinois net loss deductions; and 5) penalties and interest. The DOR provides that Schedules NLD, Illinois Net Loss Deduction, and UB/NLD, Unitary Illinois Net Loss Deduction, are no longer to be completed and sent in with the return. Also, Schedule I, Income Received, has been eliminated. Instead, all Schedules K-1-P ...