Instructions for Form IL-1120 Schedule INL Illlinois Net Loss Adjustments for Cooperatives and REMIC Owners - Illinois

This document contains official instructions for Form IL-1120 Schedule INL, Illlinois Net Loss Adjustments for Cooperatives and Remic Owners - a form released and collected by the Illinois Department of Revenue.

FAQ

Q: What is Form IL-1120 Schedule INL?
A: Form IL-1120 Schedule INL is a schedule used by cooperatives and REMIC owners in Illinois to report net loss adjustments.

Q: Who is required to file Form IL-1120 Schedule INL?
A: Cooperatives and REMIC owners in Illinois are required to file Form IL-1120 Schedule INL.

Q: What are net loss adjustments?
A: Net loss adjustments refer to the changes made to reported net losses on a tax return.

Q: When is Form IL-1120 Schedule INL due?
A: Form IL-1120 Schedule INL is due on the same day as the taxpayer's Illinois income tax return, which is usually April 15th.

Q: Is Form IL-1120 Schedule INL separate from the Illinois income tax return?
A: Yes, Form IL-1120 Schedule INL is a separate schedule that needs to be filed along with the Illinois income tax return.

Q: Do I need to include any supporting documentation with Form IL-1120 Schedule INL?
A: Yes, you may need to include supporting documentation depending on the specific circumstances of your net loss adjustments.

Q: What should I do if I have questions about Form IL-1120 Schedule INL?
A: If you have questions about Form IL-1120 Schedule INL, you should contact the Illinois Department of Revenue for assistance.