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                                                                           Use for tax year ending on or 
        Illinois Department of Revenue
                                                                           after December 31, 2023 and 
                                                                           before     December 31,                 2024.                
        IL-1120-X Instructions                                                                                          2023
                                   General Information
Who must file Form IL-1120-X?                                               Acknowledgement that the IRS received your amended 
You should file Form IL-1120-X, Amended Corporation Income and          return is not acceptable proof of federal finalization.
Replacement Tax Return, if you are amending a previously filed,         If your federal change decreases the tax due to Illinois and 
processable Form IL-1120, Corporation Income and Replacement            you are entitled to a refund or credit carryforward, you must file 
Tax Return, or Form IL-1120-X, for a tax year ending on or after        Form IL-1120-X within two years plus 120 days of federal finalization.
December 31, 1986. Your change can occur from a state or federal        If your federal change increases the tax due to Illinois, you must 
change that affects items used to compute your Illinois net income,     file Form IL-1120-X and pay any additional tax within 120 days of 
net loss, or credits, such as                                           IRS partial agreement or finalization. In order to avoid late payment 
• an amendment of your federal income tax return,                       penalties, you must pay any additional tax to IDOR and attach proof 
• an adjustment made by the Internal Revenue Service (IRS), or          of the federal finalization date, showing the change was reported to 
• any other recomputation or redetermination.                           Illinois within 120 days of IRS acceptance, or you may be assessed a 
A separate Form IL-1120-X must be filed for each tax year you need      late-payment penalty.
to amend.                                                                   If you fail to notify us of your change by filing 
                                                                        Form IL-1120-X, we may issue a notice of deficiency at any time. 
What if I need to change my return before the                           Once you file your change, we may issue a notice of deficiency within 
extended due date expires?                                              two years.

If you filed your original Form IL-1120 and a state or federal          What if I am amending my return due to multiple 
correction or change needs to be made before the extended due 
date expires (see the instructions of your original return), you should federal adjustments?
file Form IL-1120-X. Due to the automatic extension, any return filed   If you are amending your original Form IL-1120 due to multiple 
after the original return and on or before the extended due date will   federal adjustments that were finalized on different dates, then 
be treated as the original return.                                      you must complete separate amended Illinois returns for each 
If you are filing Form IL-1120-X to change the election on your         federal finalization date. For example, if you receive a 2023 return 
original return to treat all income other than compensation as          adjustment from the IRS on July 10, 2024, and in August 2024, 
business income, check the box in Step 1, Line Q, and provide a         you amend your U.S. Form 1120 and receive federal finalization on 
written explanation indicating the change to your election in the       October 22, 2024, then you must submit one Form IL-1120-X for the 
“Explain the changes on this return” area on Form IL-1120-X.            July 10, 2024, adjustments and a separate Form IL-1120-X for the 
                                                                        October 22, 2024, adjustments. Failure to file separate amended 
How long do I have to amend my return?                                  returns for each federal finalization date may result in the denial of 
The amount of time you have to amend your return depends on             the entire claim, a delay in processing, or the assessment of penalty 
whether your Form IL-1120-X is being filed to report a state or federal and interest. 
change.                                                                     Proof of federal finalization must be attached to your 
        If an amended return claiming a credit or refund is filed       amended return before the return will be processed.
within six months of the expiration of the statute of limitations, then 
the statute of limitations will automatically be extended an additional What if my amended return involves unitary 
six months for issuing an assessment of additional tax due.             filing?
State change - If your change creates or increases the Illinois net     If you are amending your original 
loss for the year, you must file Form IL-1120-X showing the increase     • unitary Form IL-1120 to report a state or federal change to your 
in order to carry the increased loss amount to another year.               unitary income, you must file one combined Form IL-1120-X for 
If your change decreases the tax due to Illinois and you are entitled      all members and a revised Illinois Schedule UB, Combined 
to a refund or credit carryforward, you must file Form IL-1120-X           Apportionment for Unitary Business Groups along with any 
within                                                                     necessary Subgroup Schedules.
• three years after the due date of the return (including                • non-unitary Form IL-1120 to be included in an existing 
  extensions),                                                             unitary group, you must file Form IL-1120-X, reporting a zero 
• three years after the date your original return was filed, or            tax liability, and the unitary group must file one combined 
• one year after the date your Illinois tax was paid, whichever is         Form IL-1120-X and attach a revised Illinois Schedule UB that 
  latest.                                                                  includes you as a member.
If your change increases the tax due to Illinois, you should file 
Form IL-1120-X and pay the tax, penalty, and interest promptly.         What if my amended return involves an Illinois 
Federal change - Do not file this amended return until you              net loss deduction (NLD)?
receive a federal finalization notification from the IRS stating that   If you have an Illinois NLD carryforward from any loss year ending on 
they have accepted your change, either by paying a refund, or by        or after December 31, 1986, it is subtracted from and limited to base 
final assessment, agreement, or judgment. In order to process an        income allocable to Illinois.
amended return due to a federal change, the Illinois Department         To determine your “Illinois net loss” start with federal taxable income 
of Revenue (IDOR) requires proof of federal finalization. Proof of      and apply all addition and subtraction modifications, and all allocation 
federal finalization includes one or more of the following:             and apportionment provisions.
• a copy of your federal audit report (signed and dated by a            If you are carrying an Illinois NLD, refer to the “General Information” 
  federal auditor),                                                     section of Form IL-1120 Instructions and Schedule NLD or UB/NLD 
• an IRS account transcript, or                                         Instructions for how to calculate your Illinois Net Loss Deduction. 
• a federal refund check.
IL-1120-X Instructions (R-12/23)   Printed by the authority of the state of Illinois - electronic only - one copy.                      Page 1 of 6

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Who should sign the return? If you are filing Form IL-1120-X because
Your Form IL-1120-X must be signed by the president, vice president, • you filed a U.S. Form 1120-X or U.S. Form 1139 and your tax
treasurer, or any other officer duly authorized to sign the return. If due to Illinois decreases, you must attach proof of the federal
you paid someone (other than a regular employee of the taxpayer, finalization date, include a copy of that federal return, plus
such as a clerk, secretary, or bookkeeper) to prepare your return, any other related forms, schedules, or attachments, including
that individual must provide a signature, date the return, enter the a signed and dated copy of any federal report of income tax
preparer tax identification number (PTIN) issued to them by the examination changes (e.g., Form 4549A and B), if applicable.
Internal Revenue Service, and provide their firm’s name, federal • you filed a U.S. Form 1120-X and your tax due to Illinois
employer identification number (FEIN), address, and phone number. increases, you must attach proof of the federal finalization
date, including a signed and dated copy of any federal report
Can a reasonable facsimile be used? of income tax examination changes (e.g., Form 4549A and
In general, you must obtain and use forms prescribed by the Illinois B), if applicable, showing the change was reported to Illinois
Department of Revenue (IDOR). Separate statements not on forms within 120 days of IRS acceptance, or you may be assessed a
provided or approved by IDOR will not be accepted and you will late-payment penalty.
• of a change by the IRS, you must include all copies of the
be asked for appropriate documentation. Failure to comply with
federal examining officer’s reports, including preliminary,
this requirement may result in failure to file penalties, a delay
revised, corrected, and superseding reports, and a signed and
in the processing of your return, or a delay in the generation
of any overpayment. Additionally, failure to submit appropriate dated copy of any federal report of income tax examination
documentation when requested may result in a referral to our Audit changes (e.g., Form 4549A and B), if applicable.
Bureau for compliance action. • you copied information incorrectly from your U.S. Form 1120
Corporations must complete Form IL-1120-X. Do not send a onto your Form IL-1120, you must include a copy of your
computer printout with line numbers and dollar amounts attached U.S. Form 1120.
to a blank copy of the return. Computer generated printouts are • of a change in, or audit of, another state’s tax return, you
not acceptable, even if they are in the same format as IDOR forms. must include a copy of the other state’s corrected return or the
Computer generated forms from an IDOR-approved software examining officer’s reports.
developer are acceptable. • of changes reported on a revised Schedule K-1-P or K-1-T (or
any equivalent document) you received, you must include a
What are the penalties and interest? copy of the revised Schedule(s) K-1-P or K-1-T (or equivalent
Penalties — You will owe document).
• a late-filing penalty if you do not file a processable return by • of changes, other than those described above, see
the extended due date; Form IL-1120 Instructions and any schedules for the year you
• a late-payment penalty if you do not pay the tax you owe by are changing to determine what attachments you must provide.
the original due date of the return;
• a late-payment penalty for underpayment of estimated tax Should I round?
if you were required to make estimated tax payments and failed You must round the dollar amounts on Form IL-1120-X to
to do so, or failed to pay the required amount by the payment whole-dollar amounts. To do this, you should drop any amount less
due date; than 50 cents and increase any amount of 50 cents or more to the
• a bad check penalty if your remittance is not honored by your next higher dollar.
financial institution;
• a cost of collection fee if you do not pay the amount you owe Where should I file?
within 30 days of the date printed on your bill. Mail your Form IL-1120-X to:
Interest — The interest rate is the federal underpayment rate, which ILLINOIS DEPARTMENT OF REVENUE
is set by the IRS under Internal Revenue Code (IRC) Section 6621. PO BOX 19016
For more information about penalties and interest, see SPRINGFIELD IL 62794-9016
Publication 103, Penalties and Interest for Illinois Taxes, available at
tax.illinois.gov. What if I need additional assistance or forms?
For amended tax returns filed on or after • For assistance, forms, or schedules, visit our website at
January 1, 2024, a late payment penalty will be assessed for any tax.illinois.gov or scan the QR code provided.
amended return not filed and the resulting liability not paid within
120 days of the federal change. See 35 ILCS 735/3-3(b-25) for more
information.

What must I attach to my Form IL-1120-X?
This form must contain a complete explanation of the reasons for
filing the claim or amendment. You must attach proof of the federal
finalization date and any schedules, forms, breakdowns, statements,
or other documentation required to support your claim. If Form • Write us at:
IL-1120-X is submitted without the proper attachments, it may be ILLINOIS DEPARTMENT OF REVENUE
partially or totally denied. PO BOX 19001
Examples of federal finalization include a copy of one or more of the SPRINGFIELD IL 62794-9001
following items: • Call 1 800 732-8866 or 217 782-3336 (TTY at 1 800 544-5304).
• your federal refund check • Visit a taxpayer assistance office - 8:00 a.m. to 5:00 p.m.
• your audit report from the IRS (Springfield office) and 8:30 a.m. to 5:00 p.m. (all other offices),
• your federal transcript verifying your federal taxable income Monday through Friday.

IL-1120-X Instructions (R-12/23) Page 2 of 6

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Specific Instructions
For instructions regarding completion of Steps 1 through 7, refer L — Check this box if you are a 52/53 week filer. A 52/53 week
to the Form IL-1120 Instructions and schedules for the year being filer is a fiscal filer with a tax year that varies from 52 to 53 weeks
amended. because their tax year ends on the same day of the week instead of
Specific instructions for most of the lines are provided on the the last day of the month.
following pages. If a specific line is not referenced, follow the M — Enter your entire federal employer identification number (FEIN).
instructions on the form. If you are a unitary company, enter the FEIN of the designated agent.
Enter the tax year you are amending in the space provided at the top N — Enter your North American Industry Classification System
of Form IL-1120-X. (NAICS) Code. If you are unsure of your code, you can research the
information at www.census.gov/naics or www.irs.gov.
Step 1: Identify your corporation O— Enter your Illinois corporate file (charter) number assigned to
A — Type or print your legal business name. If you have a name you by the Illinois Secretary of State. If you are filing a unitary return,
change from your original return, check the corresponding box. enter the corporate file (charter) number of the designated agent.
B — Type or print your mailing address. P — Check the appropriate box for the reason you are filing
C — If you are filing an Illinois combined unitary return, check this this return. If you are amending due to a federal change, you
box and attach a complete and corrected Illinois Schedule UB. If you must check the appropriate box for partial agreed or finalized and
are a foreign insurer, check the box and, if you are entitled to a tax include the date of IRS finalization, which might not be the date the
reduction, attach a completed Illinois Schedule INS, Tax for Foreign federal amended return was filed. Attach a dated copy of any federal
Insurers. Combined unitary return filers with one or more foreign examining officer’s report. If you do not provide this date or the
insurer members, check both boxes and follow the instructions for required attachments, you may be assessed penalties and interest.
both boxes. If your unitary group is entitled to a tax reduction, attach Q — If you are filing Form IL-1120-X on or before the extended due
a completed Illinois Schedule UB/INS, Tax for a Unitary Business date, and wish to make the election to treat all income, other than
Group with Foreign Insurer Members. compensation, as business income for this tax year, check this box.
See the specific instructions for Step 8 in order to claim the If you previously had nonbusiness income on Form IL-1120, Step
tax reduction calculated on Schedule INS or Schedule UB/INS. 4, Lines 24 and 32, you must reduce these amounts to zero on this
D — Check the box if you are filing this form only to report an Form IL-1120-X. Once made, the election is irrevocable. If you are
increased net loss, you have no surcharges for Compassionate filing Form IL-1120-X after the extended due date of the original
Use of Medical Cannabis Program Act or sale of assets by gaming return and did not make the election on your original return, you
licensee on your original or amended return, and no overpayment cannot check this box.
will result. Complete Steps 2 and 3, Step 4, if applicable, and Step 5, R — Check the box if you must adjust your loss or loss carryover
Lines 35 through 37. Sign the return in Step 9 and leave the rest of due to Discharge of Indebtedness. For more information, see the
the form blank. instructions for Line 36 and Schedule NLD or UB/NLD Instructions.
E — If you completed federal Form 8886 or federal Schedule M-3, S — Check the box if you are a cooperative and completed
Part II, Line 12, to report a tax shelter and you did not attach a copy Schedule INL either to make a first-time election for treatment of
to the original return, check the appropriate box and attach a copy income or to figure your patronage and nonpatronage income or loss,
of the federal form or schedule to this return. If you are filing this or you are a real estate mortgage investment conduit (REMIC) that
return because of changes associated with federal Form 8886 or completed Schedule INL to make an adjustment to Illinois income.
federal Schedule M-3, Part II, Line 12, provide a detailed explanation Attach Schedule INL to your tax return.
in the “Explain the changes on this return” area. T — Check this box if you annualized your income on
F — If you are a unitary company and completed Schedule UB, Form IL-2220, Computation of Penalties for Businesses. Attach
check the box and attach Schedule UB to your return. Form IL-2220 to your tax return. If you are filing Form IL-1120-X after
G — If you are a unitary company and completed Subgroup the extended due date of the original return, you cannot check this
Schedule, check this box and attach Subgroup Schedule. See box. Late-payment penalty for underpayment of estimated tax is
Subgroup Schedule Instructions for more information. based on the tax shown due on your original return.
H —You must check the box and attach Schedule 1299-D, Income U — Check this box only if you have sales into Illinois and you
Tax Credits (for corporations and fiduciaries), and any other required are not required to allocate them because you are protected by
support listed on Schedule 1299-D if you are entitled to take income Public Law 86-272. Complete Steps 1 through 5 of Form IL-1120-X.
tax credits on Step 7, Line 48, of your Form IL-1120-X, even if the V — Check this box if you are filing this amended return to report
amount is not changing from your original return, or if you have changes to your Illinois sales factor numerator due to the inclusion or
earned credits in this tax year, but are unable to use them. exclusion of throwback sales.
I —You must check the box and attach Form IL-4562, Special W — Check this box if you are filing this amended return to report
Depreciation, if you are claiming special depreciation addition or changes to your Illinois sales factor numerator due to the inclusion or
subtraction modifications on Form IL-1120-X, even if the amounts are exclusion of double throwback sales.
not changing from your original return.
J — You must check the box and attach Schedule M, Other Explain the changes on this return
Additions and Subtractions (for businesses), if you are claiming other The purpose of this area is to allow you to explain what specific
addition or subtraction modifications on Form IL-1120-X, even if the changes you are making to your Illinois tax return. You should
amounts are not changing from your original return. include all relevant information, including, but not limited to, changes
K — You must check the box and attach Schedule 80/20, made to
Related-Party Expenses, if you are claiming related-party expense • specific addition and subtraction modifications,
modifications on your Form IL-1120-X, even if the amounts are not • unitary membership or unitary status,
changing from your original return. • the business income election,
IL-1120-X Instructions (R-12/23) Page 3 of 6

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• credit or credit recapture amounts, If you check the box on Line B, you must complete all lines of
• the Illinois net operating loss deduction, and Step 4, Column B. Submitting Form IL-1120-X with an incomplete
• the federal or other state return that caused changes to the Step 4, Column B, including Lines 28, 29, and 30 may result in a
Illinois return. delay in processing your return, further correspondence, and you
may be required to submit further information to support your filing.
You must provide an explanation for each line item you change.
See the the specific instructions for Step 4 for more information.
If your changes generate an overpayment which you elect to receive
as a credit carryforward and you elect to apply that credit to a tax Unitary filers - You must complete both Step 4 of the
year other than the year described in the Line 66 instructions, you Schedule UB and Step 4, Column B of the Form IL-1120-X.
must follow the instructions found under “May I apply my credit to a
Step 4: Figure your income allocable to Illinois
different tax year?” If you fail to include the required information in
your explanation, your election will be considered invalid and we will Complete Step 4 only if you originally completed this part, or
not apply your credit as you requested. you need to make a change that affects your base income or
loss allocable to Illinois. Refer to Form IL-1120, Step 4, Specific
General Information for Steps 2 through 7 Instructions, for the year being amended.
Column A — Enter the amounts from your most recently filed or You must check the box on Line B and complete Step 4 if any
adjusted return for the year that you are amending. These may be portion of Column B, Line 23, base income or loss, is derived outside
figures from your original Form IL-1120, or a previously amended or Illinois, or you have any income or loss to report on Column B, Lines
audited return. 24, 25, 32, or 33.
Column B — Enter the correct amount for each line in Column B. If you do not complete all of Step 4, Column B, Lines 24 through 34,
For each line item you change, you must provide an explanation for we may issue a notice and demand proposing 100 percent of income
that change in the “Explain the changes on this return” area. as being allocated to Illinois, or in the case of a loss return, a notice
indicating none of your loss as being allocated to Illinois.
If you are filing this form only to report an increase in your
Illinois net loss, you have no surcharges for Compassionate Use of Lines 24 and 32 — If you elected to treat all of your income other
Medical Cannabis Program Act or sale of assets by gaming licensee than compensation as business income on your original tax return,
on your original or amended return, and the change will not result in you must follow that election by entering zero on Form IL-1120-X,
an overpayment, see the instructions for Step 5, Line 35. Lines 24 and 32, if it is after the extended due date of the return.
If you are filing Form IL-1120-X before the extended due date and
Step 2: Figure your income or loss are making the election to treat all nonbusiness income as business
income, Column B, Lines 24 and 32 should be reduced to zero.
Lines 1 through 8 — Refer to your Form IL-1120, Step 2, Specific
Instructions, for the year being amended. Step 5: Figure your net income
Do not apply your Illinois net loss deduction amount in this
Line 35 — Follow the instructions on the form. If the amount in
step. Net Loss Deductions (NLDs) are reported on Step 5, Line 38.
Column A reflects income and the corrected amount in Column B
Step 3: Figure your base income or loss reflects a loss, you may be able to carry this loss to other years as an
Illinois NLD. See the Net Loss Deduction information and Schedule
Lines 10 through 22 — List each item and the amount on the line NLD or UB/NLD Instructions for more information.
provided. You must identify all subtractions and attach all of the
required supporting documentation. If you are filing this form only to report an increase in your
Illinois net loss, you have no surcharges for Compassionate Use of
Line 23 — This is your base income or loss. Medical Cannabis Program Act or sale of assets by gaming licensee
Column A — Enter the amounts from your most recently filed or on your original or amended return, and the change will not result in
adjusted return. Do not check a box on Lines A or B to indicate an overpayment, check the box in Step 1, Line D, complete Steps 2
how your income was reported on your most recently filed or and 3, Step 4, if applicable, and Step 5, Lines 35 through 37. Explain
adjusted return. The check boxes on Lines A and B are used when what caused the increase in the Illinois net loss in the “Explain the
reporting your amended base income or loss in column B. changes on this return” area and sign the return in Step 9. Leave the
Column B — Follow the instructions on the form and check the box rest of the form blank.
on Line A or B that applies to the amount in Column B. You must Line 36 — If you were required to reduce the net operating loss
check one of these boxes and follow the instructions for that line reported on your U.S. Form 1120 because you excluded any
when completing Column B. discharge of indebtedness income from this tax year’s gross income,
Check the box on Line A if then you may be required to reduce the net loss reported on Line 35.
• all of your base income or loss is derived inside Illinois; and Use the Loss Reduction Worksheet of the IL-1120 Instructions to
• you do not have any income or loss to report on Lines 24, 25, figure your loss reduction. Attach a copy of your federal Form 982,
32, or 33. Reduction of Tax Attributes Due to Discharge of Indebtedness,
and a detailed statement to your Form IL-1120-X. For more
If you check the box on Line A, do not complete Step 4,
information, see 86 Ill. Adm. Code Section 100.2310(c).
Column B. All of your amended base income or loss is allocable
to Illinois. Skip Step 4, Column B, enter the amount from Step 3, If you are a combined group reporting a combined net loss on
Column B, Line 23 on Step 5, Column B, Line 35, and complete the Line 35, you may be required to reduce this loss if one or more of
remainder of the return. your group members excluded discharge of indebtedness income
and was required to reduce a federal net operating loss incurred for
Check the box on Line B if any of the following apply:
this tax year.
• your base income or loss is derived inside and outside Illinois;
If you also have Illinois net operating loss carryovers to
• all of your base income or loss is derived outside Illinois; or the tax year of the debt cancellation, you may also be required to
• you have income or loss to report on Lines 24, 25, 32, or 33. reduce those carryovers. See Schedule NLD Instructions for more
information.

IL-1120-X Instructions (R-12/23) Page 4 of 6

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Line 37 — If you have a discharge of indebtedness adjustment For combined unitary filers with one or more members who are
on Line 36, add Lines 35 (a negative number) and 36 (a positive foreign insurers
number), and enter the result here. This amount cannot be greater • complete Form IL-1120-X, Steps 1 through 7, before completing
than zero. Illinois Schedule UB/INS;
If you do not have a discharge of indebtedness adjustment, • complete all steps of your Schedule UB, before completing
enter zero on Line 36 and enter the amount from Line 35 on Line 37. Illinois Schedule UB/INS;
Line 38 — Enter your Illinois net loss deduction carryforward • complete Schedule UB/INS;
from Illinois Schedule NLD, Step 1, Line 7 total box, or Illinois • report your foreign insurer replacement tax reduction on Step 8,
Schedule UB/NLD, Step 3, Line 30. Attach Illinois Schedule NLD or Line 51; and
Unitary Illinois Schedule UB/NLD to your Form IL-1120-X. • report your foreign insurer income tax reduction on Step 8,
For tax years ending on or after December 31, 2021, and Line 54.
before December 31, 2024, this amount is limited to $100,000 or Line 50 — Follow the instructions on the form.
less. If you are a foreign insurer do not apply a tax reduction
If you are a cooperative and you separate your patronage and to this line. Follow the instructions above and on Schedule INS or
nonpatronage income or loss, complete Schedule INL and follow Schedule UB/INS.
the directions for computation of your Illinois net loss deduction in Line 51 — Enter your foreign insurer replacement tax reduction from
Schedule NLD or Schedule UB/NLD Instructions. Schedule INS, Step 3, Line 17, or Schedule UB/INS, Step 6, Line 60.
If any of the loss being claimed on Line 38, originated from a Attach Schedule INS or Schedule UB/INS.
company other than the one filing this return, check the box on Line 52 — Subtract Line 51 from Line 50 and enter the result on this
Line 38 and attach a detailed statement to your return with line. If Line 51 is blank, enter the amount from Line 50 on Line 52.
• the FEIN of the company from which you acquired the loss, This is your net replacement tax.
• the reason (e.g., merger) you are allowed to use that company’s Line 53 — Follow the instructions on the form.
losses, and If you are a foreign insurer do not apply a tax reduction
• the date you acquired the loss. to this line. Follow the instructions above and on Schedule INS or
Schedule UB/INS.
Step 6: Figure your replacement tax after credits
Line 54 — Enter your foreign insurer income tax reduction from
Follow the instructions on the form. Be sure to attach any required Schedule INS, Step 3, Line 20, or Schedule UB/INS, Step 6, Line 73.
schedules or forms. Attach Schedule INS or Schedule UB/INS.
Line 41 — See Illinois Schedule 4255, Recapture of Investment Tax Line 55 — Subtract Line 54 from Line 53 and enter the result on this
Credits, for more information. You must attach Illinois Schedule 4255 line. If Line 54 is blank, enter the amount from Line 53 on Line 55.
if you have an amount on this line. This is your net income tax.
Line 43 — See Form IL-477, Replacement Tax Investment Credits, Line 56 — Compassionate Use of Medical Cannabis Program Act
for more information. You must attach Form IL-477 and any other surcharge. Use the instructions and the Surcharge Worksheet in the
required support listed on Form IL-477 if you have an amount on this Form IL-1120 Instructions to figure your surcharge.
line.
Line 57 — Sale of assets by gaming licensee surcharge. Use
Step 7: Figure your income tax after credits the instructions and Surcharge Worksheet in the Form IL-1120
Instructions to figure your surcharge.
Follow the instructions on the form and attach any required
schedules. Line 58— Add Lines 52, 55, 56, and 57, and enter the total on
this line. This is your total net income and replacement taxes, and
Line 45 — See Form IL-1120, Line 45 instructions for the amount to
surcharges.
enter here.
Line 59a — Enter the sum of any overpayment from your prior year
Line 46 — See Illinois Schedule 4255 for more information regarding
tax returns that you requested to be applied to this year’s tax return.
the recapture of investment credits. You must attach Illinois
Take into account any correspondence we may have sent that
Schedule 4255 if you have an amount on this line.
changed the amount of your credit carryforward from the previous
Line 48 — See Illinois Schedules 1299-D and 1299-I for more year.
information regarding income tax credits. If you have an amount on
Line 59b — Enter the sum of the following, not including any penalty
this line, check the box in Step 1, Line H, and attach Illinois Schedule
and interest previously paid:
1299-D and any other required support listed on Schedule 1299-D.
• estimated payments or tax prepayments made during the tax
Step 8: Figure your refund or balance due year,
If you are filing this form only to report an increase in your • extension payments,
Illinois net loss, you have no surcharges for Compassionate Use of • any tax payments you made with a previously filed
Medical Cannabis Program Act or sale of assets by gaming licensee Form IL-1120-X, and
on your original or amended return, and an overpayment will not • any other payments made prior to the date this amended return
result, do not complete this step. is filed (e.g., responding to a bill).
If you are a foreign insurer, review the instructions below. Line 59c — Enter the amount you wish to claim of Illinois
For non-unitary foreign insurers pass-through withholding (including any eligible investment
partnership withholding) payments reported to you by partnerships,
• complete Form IL-1120-X, Steps 1 through 7, before completing
S corporations, or trusts, on Schedule(s) K-1-P or K-1-T. If you
Illinois Schedule INS;
received more than one Schedule K-1-P or K-1-T, add the amounts
• complete Schedule INS;
from all the schedules and enter the total on Line 59c. Attach copies
• report your foreign insurer replacement tax reduction on Step 8, of the Schedules K-1-P and K-1-T you received from the pass-
Line 51; and through entities to your Form IL-1120. See “What is pass-through
• report your foreign insurer income tax reduction on Step 8, withholding and pass-through entity (PTE) tax?” under “General
Line 54. Information” in the Form IL-1120 Instructions for more information.
IL-1120-X Instructions (R-12/23) Page 5 of 6

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         Partners in an investment partnership may not be eligible to    Line 67 — Follow the instructions on the form. We will calculate any 
claim a Schedule K-1-P, Step 7, Line 55 amount reported to them by       interest that may be due you and include it in your refund check. Any 
the investment partnership. See Schedule K-1-P(2) for information        refund may be reduced to satisfy any outstanding liability.
about when a partner may claim investment partnership withholding        We do not currently offer direct deposit as a method for receiving a 
credit.                                                                  refund from an amended return. Overpayments will be refunded by 
Line 59d — Enter the amount of any PTE tax credit received as            check.
shown on Schedule(s) K-1-P and K-1-T. Attach Schedule(s) K-1-P           Line 68 — Follow the instructions on the form. This is your amount 
and K-1-T.                                                               of tax due that must be paid in full if $1 or more. We encourage you 
Line 59e — Enter the amount of any Illinois gambling withholding         to let us figure your penalties and interest and send you a bill instead 
and withholding from sports wagering winnings shown on                   of determining these amounts yourself. We will compute any penalty 
Form W-2G. Attach Forms W-2G.                                            and interest due and notify you. For more information see “What 
Line 61 — Enter previously paid penalty and interest. This               are the penalties and interest?” and Publication 103, Penalties and 
information can be obtained from your MyTax Illinois account. Sign       Interest for Illinois Taxes.
into mytax.illinois.gov to view your account or to register for an                  We will apply all payments against tax first, penalty second, 
account.                                                                 and interest third. 
Line 62 — Enter the total amount of any overpayment, credit              If you have a balance due on Line 68 be sure to enter the amount 
carryforward, or refund (whether or not you received the                 you are paying on the top of Page 1 of Form IL-1120-X. Complete 
overpayment) reported on your previously filed Form IL-1120 or           Form IL-1120-X-V, Payment Voucher for Amended Corporation 
Form IL-1120-X. Do not include interest that you received. Do            Income and Replacement Tax, make your check or money order 
not reduce the amount reported on this line to pay a tax increase        payable to “Illinois Department of Revenue”  , and attach them both 
reported on an amended return filed after the extended due date of       to the front of the return or file and pay electronically.
the original return. You cannot change the amount to be credited 
forward from the amount reported on your original return after the       Step 9 — Signature, date, and paid preparer’s 
extended due date.                                                       information
Line 66 — Enter the amount of overpayment you elect to be applied        You must sign and date your return. If you do not sign your return, 
against your estimated tax obligation. Check the box on this line        it will not be considered filed and you may be subject to a nonfiler 
if this is your final return and any remaining carryforward is being     penalty.
transferred to another entity. Attach a detailed statement to your       If you pay someone to prepare your return, the income tax return 
return listing the FEIN of the entity receiving the credit carryforward, preparer must also sign and date the return, enter the preparer tax 
the date the credit was transferred, and the reason for the transfer.    identification number (PTIN) issued to them by the Internal Revenue 
See Form IL-1120, Step 8, Line 64 instructions for more information.     Service, and provide their firm’s name, FEIN, address, and phone 
Your credit carryforward will not be applied if you do not file a        number. 
processable return.                                                      If you want to allow the paid preparer listed in this step to discuss 
If your overpayment accrues interest and you elect to receive your       this return with IDOR, check the box. This authorization will allow 
                                                                         your paid preparer to answer any questions that arise during the 
•    entire overpayment as a credit carryforward, any interest 
                                                                         processing of your return, call us with questions about your return, 
     due will be applied with your credit as an additional credit 
                                                                         and receive or respond to notices we send. The authorization will 
     carryforward. We will calculate the amount of interest due 
                                                                         automatically end no later than one year after you file your amended 
     and notify you. When you claim your credit carryforward in a 
                                                                         return. You may revoke the authorization at any time by calling or 
     future year you must include this interest amount in the amount 
                                                                         writing us.
     claimed.
•    overpayment as both a credit carryforward and a refund, we 
     will apply the credit as you request and include any interest due 
     with your refund.
         Your credit carryforward may be reduced by us due to 
corrections we make to your return, or to satisfy any unpaid tax, 
penalty, and interest due for this year or any other year. If we reduce 
your credit carryforward, it may result in a late-payment penalty in a 
subsequent year.
May I apply my credit to a different tax year? 
Yes. If you wish to apply your credit to a tax year other than the one 
described above, you must indicate the tax year to which you wish to 
have the credit apply in the “Explain the changes on this return” area.
If you do not follow these instructions, your election will be 
considered invalid and we will apply your credit as indicated under 
“To which tax year will my credit apply?” in the Form IL-1120 
Instructions.
If you submit a valid request, we will apply your credit as you 
requested and notify you. Once made, your election to change the 
tax year to which your credit will apply is irrevocable. 
         You may only apply your credit to tax years occurring after 
the year of the return creating the overpayment. If you request to 
apply more credit than our records show you have available, we 
will apply the maximum amount available and notify you of the 
difference. 
IL-1120-X Instructions (R-12/23)                                                                                                     Page 6 of 6

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