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Illinois Department of Revenue Year ending
Gains from Sales or Exchanges
of Property Acquired
Schedule F Month Year
Attach to your Form IL-1065 Before August 1, 1969 IL Attachment No. 16

Enter your name as shown on your Form IL-1065. Enter your federal employer identification number (FEIN).

You should file this schedule only if you reported gains from the disposition of property acquired before August 1, 1969, as shown
on U.S. Form 1065, Schedule D (or U.S. Form 8949, if applicable), and U.S. Form 4797 or U.S. Form 6252. See instructions.
You must attach a copy of U.S. Form 1065, Schedule D, and U.S. Form 4797, 6252, or 8949, if filed.

A B C D E F G
Section 1245 Section
Date acquired Date sold Federal gain or 1250 gain 1231 gain
Description of property (month/year) (month/year) this year (see instructions) (see instructions) Capital gain

1 a
b
c
d
e

H I J K L M
Subtract Col. I from Col. H Section 1231, 1245, Section 1231, 1245,
August 1, 1969, value Federal tax or fraction in and 1250 Gain and 1250 Gain Capital Gain
or applicable fraction basis on Col. H times Col. D Enter smaller of Subtract Col. K from Col. J Enter smaller of
(see instructions) August 1, 1969 (see instructions) Col. E or Col. J but not more than Col. F Col. G or Col. J

a
b
c
d
e

2 Enter your share of pre-August 1, 1969, appreciation amounts from other
partnerships, estates, and trusts. 2
3 Enter the total of Column K here and on Line 13 below. 3
4 Enter the total of Column L here and on Line 9 below. 4
5 Amount on Line 4 attributable to involuntary conversions by casualty and theft. 5
6 Subtract Line 5 from Line 4. 6
7 Enter the total of Column M here and on Line 8 below. 7
If you distribute amounts on Lines 3, 4, 6, or 7 to your partners, see the Specific Instructions for those line items.

Valuation Limitation Amount

8 Enter the amount from Line 7. 8
9 Enter the amount from Line 4 . 9
10 Total revalued capital gain. Add Lines 8 and 9. 10
11 Net capital gain. See instructions. 11
12 Enter the smaller of Line 10 or Line 11. 12
13 Revalued ordinary gain. Enter the amount from Line 3. 13
14 August 1, 1969, valuation limitation amount. Add Lines 12 and 13. Enter the result here and on
Form IL-1065, Line 25. 14
Installment sales are reported on Page 2.

This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this
Schedule F Front (IL-1065) (R-12/19) information is REQUIRED. Failure to provide information could result in a penalty.

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Installment Sales
If, on your U.S. Form 1065, Schedule D, U.S. Form 8949, or U.S. Form 4797, you reported gains from an installment sale of property acquired
before August 1, 1969, complete Schedule F for those sales by following the instructions below.

If, for federal tax purposes, you filed U.S. Form 6252 but were not required to file U.S. Form 4797, attach to your Schedule F: (1) a
statement that you were not required to file U.S. Form 4797 and (2) a copy of the U.S. Form 6252 as filed.

Installment sales before August 1, 1969 Installment sales on or after August 1, 1969

Complete Schedule F Complete Schedule F

Columns A through C — Follow Schedule F Instructions. Columns A through I — Follow Schedule F Instructions.

Column D — Enter “INST” to indicate installment. Column J — Complete the worksheet below and enter in this
column the amount from Column 5 of the worksheet below.
Columns E through J — Leave blank.
The heading for Column J does not describe this entry.
Column K — Enter the amount of Section 1245 or 1250 gain from
this sale reported this year on your U.S. Form 4797 or 6252. Column K through M — Follow Schedule F Instructions.

Column L — Enter the amount of Section 1231 gain from this sale
reported this year on your U.S. Form 4797 or 6252.

Column M — Enter the amount of gain from this sale reported this
year on your U.S. Form 1065, Schedule D, or U.S. Form 8949.

Column J Worksheet

1 2 3 4 5
Column 1 times Column 2 or, Total gain Column 3 minus Column 4.
if Column 2 blank, Schedule F, reported in If negative, enter zero.
Total gain Fraction Column H minus Column I prior years Enter this amount in Column J.

a
b
c
d
e

Instructions for Column J Worksheet

For each installment sale after July 31, 1969, reported on Column 3 - If you entered a fraction in Column 2 of this worksheet,
Schedule F: multiply Column 1 by that fraction. If Column 2 is blank, subtract
Column I from Column H on Schedule F and enter the amount on
Column 1 - Enter the total federal gain realized on the sale. This is Column 3.
your entire gain and not just the amount of gain reported this year.
Column 4 - Enter the total gain reported on federal income tax
Column 2 - Enter the fraction, if any, entered on Schedule F, returns in prior years.
Column H.
Column 5 - Subtract Column 4 from Column 3. If the result is
negative, enter zero. Enter the amount here and on Schedule F,
Column J.

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Schedule F Back (IL-1065) (R-12/19) Printed by the authority of the state of Illinois - electronic only - one copy.

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