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*95512191W*
Illinois Department of Revenue Year ending
Illinois Net Loss Adjustments for
Schedule INL __ __
Cooperatives and REMIC Owners Month Year
Attach to your Form IL-1120. IL Attachment No. 20
Step 1: Provide the following information
A _____________________________________________________________ B___ ___ - ___ ___ ___ ___ ___ ___ ___
Enter your name as shown on your Form IL-1120. Enter your federal employer identification number (FEIN).
C Check the box indicating the reason for completing Schedule INL. Cooperative Adjustments (Complete Steps 2 and 3 only.)
REMIC Adjustments (Complete Step 4 only.)
Step 2: Make your election (Cooperatives only)
1 Mark this box if this is the first year for which you are filing Schedule INL.
If you marked the box in Line 1, complete the following statement by checking the appropriate box 1a or 1b.
I elect to compute Illinois net income for all taxable years:
a allowing patronage losses to offset nonpatronage income.
If you check this box, do not complete Step 3 on this form or complete this form in subsequent years.
b without allowing patronage losses to offset nonpatronage income.
2 Mark this box if you elected to offset nonpatronage loss against patronage income for federal purposes
for this tax year.
Step 3: Figure your Illinois income or loss (Cooperatives only) A B
Patronage Nonpatronage
3 Federal taxable income. (Federal Form 1120-C, Schedule G, Line 10, or
Form 8817, Line 29.) 3a ____________ 00 3b ____________ 00
4 Addition modifications. 4a ____________ 00 4b ____________ 00
5 Subtraction modifications. 5a ____________ 00 5b ____________ 00
6 Base income. Add Lines 3 through 5. 6a ____________ 00 6b ____________ 00
7 Nonbusiness income or loss. 7a ____________ 00 7b ____________ 00
8 Business income or loss from non-unitary partnerships, partnerships included on
Schedule UB, S corporations, trusts, or estates. 8a ____________ 00 8b ____________ 00
9 Add Lines 7 and 8. 9a ____________ 00 9b ____________ 00
10 Business income or loss. Subtract Line 9 from Line 6. 10a ____________ 00 10b ____________ 00
11 Apportionment factor from Form IL-1120, Line 30. 11a ___ ___________ 11b ______________
12 Business income or loss apportioned to Illinois. Multiply Line 10 by Line 11. 12a ____________ 00 12b ____________ 00
13 Nonbusiness income or loss allocated to Illinois from Form IL-1120, Line 32. 13a ____________ 00 13b ____________ 00
14 Business income or loss apportionable to Illinois from non-unitary partnerships,
partnerships included on a Schedule UB, S corporations, trusts, or estates from
Form IL-1120, Line 33. 14a ____________ 00 14b ____________ 00
15 Base income or loss allocable to Illinois. Add Lines 12 through 14. 15a ____________ 00 15b ____________ 00
16 Discharge of Indebtedness adjustment. See instructions. 16a ____________ 00 16b ____________ 00
17 Adjusted base income or net loss. Add Lines 15 and 16. See instructions. 17a ____________ 00 17b ____________ 00
18 Illinois net loss deduction. 18a ____________ 00 18b ____________ 00
19 Net income or loss. Subtract Line 18 from Line 17. 19a ____________ 00 19b ____________ 00
20 Combined net income or loss. See instructions. 20 ___________ 00
This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this
Schedule INL Front (R-12/19) information is REQUIRED. Failure to provide information could result in a penalty.
