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*33712221W*
Illinois Department of Revenue Year ending
____ ____
Schedule J Foreign Dividends
Attach to your Form IL-1120 Month Year
IL Attachment No. 10

Enter your name as shown on your Form IL-1120. Enter your federal employer identification number (FEIN).

Step 1: Figure your subtraction
The line references in each item refer to U.S. 1120, Schedule C, and must be used to complete Columns A and B. If you did not file a
U.S. 1120, Schedule C, **use the corresponding lines from the federal schedule you filed (see the list under “What must I attach to Schedule J?”). If
you had an IRC limitation, complete Column A, then refer to Step 2 on Page 3 for the correct amounts to enter in Column B, Lines 1 through 3. Do not
include any dividends received from a domestic corporation.
A B C D E
Enter the following amounts Foreign dividends received Federal special deduction Net amount Illinois Foreign dividend
from **Federal Schedule C: (U.S. Schedule C, Column (a)) (U.S. Schedule C, Column (c)) (Col. A minus Col. B) percentage subtraction
1 Line 6. X 50% (.50) = 1
2 the portion of Line 7
that is from 80% or
greater owned foreign
corporations. X 100% (1.00) = 2
3 the portion of Line 7
that is from less than
80% owned foreign
corporations. X 65% (.65) = 3
4 the portion of Line 13
that is from 80% or
greater owned foreign
corporations. X 100% (1.00) = 4
5 the portion of Line 13
that is from 20% or
more but less than
80% owned foreign
corporations. X 65% (.65) = 5
6 the portion of Line 13
that is from less than
20% owned
foreign corporations. X 50% (.50) = 6
7 the portion of Line 14
that is from 80% or
greater owned foreign
corporations. X 100% (1.00) = 7
8 the portion of Line 14
that is from 20% or
more but less than
80% owned foreign
corporations. X 65% (.65) = 8
9 the portion of Line 14
that is from less than
20% owned
foreign corporations. X 50% (.50) = 9

10 RESERVED X 100% (1.00) = 10

11 RESERVED X 65% (.65) = 11

12 RESERVED X 50% (.50) = 12

This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this
information is REQUIRED. Failure to provide information could result in a penalty.
Schedule J (R-12/22) Page 1 of 3

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                                                                                                 *33712222W*

                                                A                                    B            C                         D                        E
Enter the following amounts                 Foreign dividends received Federal special deduction  Net amount                Illinois               Foreign dividend
from **Federal Schedule C:      (U.S. Schedule C, Column (a))  (U.S. Schedule C, Column (c))   (Col. A minus Col. B)        percentage               subtraction
13  the portion of Line 16b                                                           
      and 16c that is from 
      80% or greater owned 
      foreign corporations.                                                                                                 X  100% (1.00)  =   13  
14 the portion of Line 16b 
      and 16c that is from 
      20% or more but less 
      than 80% owned 
      foreign corporations.                                                                                                 X  65% (.65)  =   14  
15 the portion of Line 16b 
      and 16c that is from 
      less than 20% owned 
      foreign corporations.                                                                                                  X  50% (.50)  =   15  
16  the portion of Line 17 
      that is from 80% or 
      greater owned foreign
      corporations.                                                                                                        X  100% (1.00) =   16  
17 the portion of Line 17 
      that is from 20% or 
      more but less than 
      80% owned foreign 
      corporations.                                                                                                         X    65%  (.65)  =   17  
18  the portion of Line 17                         
      that is from less than  
      20% owned foreign
      corporations.                                                                                                         X    50%  (.50)  =   18  
19 the portion of Line 20                          
      that is from 80% or 
      greater owned foreign
      corporations or captive                                                                                                                              
      REITs.                                                                                                                X  100% (1.00) =   19  
20 the portion of Line 20                                                                                                                                  
      that is from 20% or 
      more but less than 
      80% owned foreign 
      corporations or captive                                                                                                                              
      REITs.                                                                                                                X    65%  (.65)  =   20  
21  the portion of Line 20                         
      that is from less than  
      20% owned foreign
      corporations or captive
      REITs.                                                                                                                X    50%  (.50)  =   21  
22 Add the amounts in Column E.                                                                                                            22  
23 Enter the amount of IRC Section 78, foreign dividend gross-up  from your U.S. Schedule C, Line 18.                                      23  
24 Add Lines 22 and 23. Enter the result here and on Form IL-1120,  Step 3, Line 17. 
     This is your total foreign dividend subtraction.                                                                                      24  

                Page 2 of 3                      Printed by the authority of the State of Illinois - web only - one copy.            Schedule J (R-12/22)

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*33712223W*

Step 2: Complete this step only if you had an IRC limitation
You must complete Step 2 if the amount on U.S. Schedule C, Line 9, is less than the total of the amounts on U.S. Schedule C, Column (c),
Lines 1 through 8, due to the IRC limitation (see U.S. Schedule C, Line 9, Column (c) instructions).
1 Enter the amount from U. S. Schedule C, Line 9. 1
2 Add the amounts on U.S. Schedule C, Column (c), Lines 1 through 8. Enter the total here. 2
3 Divide Line 1 by Line 2 (carry to six decimal places).
Enter the result here and on Column B, Lines 4 through 6, below. 3
A B C
Limited federal
Federal special Decimal from special deduction
deduction Line 3 above (Col. A X Col. B)
4 Enter the amount from
U.S. Schedule C,
Column (c), Line 6. X = 4
5 Enter the portion of
U.S. Schedule C,
Column (c), Line 7,
that is from 80% or
greater owned
foreign corporations. X = 5
6 Enter the portion of
U.S. Schedule C,
Column (c), Line 7,
that is from less than
80% owned foreign
corporations. X = 6
7 Enter the amounts on Column C, Lines 4 through 6, on Step 1, Column B, Lines 1 through 3, respectively, and complete Step 1.

Schedule J (R-12/22) Page 3 of 3
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