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IDR-1-DIS (N-08/23)          Printed by authority of State of Illinois, web only – one copy. 
 

                                                                                                                         *33712231V*
        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.TENTATIVE FINAL
                                           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-12/23)                                                                                                                                        Page 1 of 3

                                                                                                 *33712232V*

                                                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 16a,  
      16b, and 16c that is from 
      80% or greater owned 
      foreign corporations.                                                                                    X  100% (1.00)  =   13  
14 the portion of Line 16a,  
      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 16a,  
      16b, and 16c that is from TENTATIVE FINAL
      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  

               Schedule J  (R-12/23)                                                                                                    Page 2 of 3

                                                                     *33712233V*

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
   TENTATIVELimited federal                                                                                FINAL
                          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-12/23)  Printed by the authority of the state of Illinois - electronic only - one copy.    Page 3 of 3