IL-1041-X: Amended Fiduciary Income and Replacement Tax Return (2024)
Illinois · Illinois DOR · Used for tax years 2024
Form IL-1041-X is Illinois’s Amended Fiduciary Income and Replacement Tax Return for trusts and estates. It reports corrected income, deductions, credits, and taxes alongside previously reported or adjusted amounts and calculates any refund or additional tax due.
Who files this form
Form IL-1041-X is the amended Illinois Fiduciary Income and Replacement Tax Return for trusts and estates.
The 2024 version is for tax years ending on or after December 31, 2024. You may not use it to amend a tax year ending before that date.
The form provides boxes for a net loss deduction (NLD) change, a state change, or a federal change. For a federal change, indicate whether it is partially agreed or finalized.
What you'll need
Have your federal employer identification number (FEIN), the tax year's beginning and ending dates, your most recently reported or adjusted amounts, and your corrected amounts ready. The form also asks for figures from federal Form 1041 and an explanation of your changes.
Attach documents that apply to your return, including:
- Federal finalization documentation for a finalized federal change.
- Illinois Schedule NR if you are a nonresident.
- Form IL-4562 for Illinois special depreciation, Schedule 80/20 for related-party expenses, and Schedule M for other additions or subtractions.
- Schedules K-1-P or K-1-T for distributive shares, pass-through withholding reported to you, or pass-through entity tax credits reported to you.
- Schedule F for the valuation limitation amount, and Schedule 1299-B for the listed dividend subtractions.
- Federal Form 982 for a discharge of indebtedness adjustment, and Schedule NLD for an Illinois net loss deduction.
- Schedule 4255, Schedule CR, Form IL-477, or Schedule 1299-D for the applicable credit or recapture entries.
- Schedule D for pass-through withholding you owe on behalf of beneficiaries.
- Forms W-2, W-2G, and 1099 supporting Illinois income tax withheld.
- Federal Form 8886 if you completed it.
If you owe tax, attach your payment and Form IL-1041-X-V. If an overpayment carryforward is going to a different FEIN, attach a detailed statement.
How to file
- Enter the tax year you are amending, identify the trust or estate, and select the applicable change type.
- Explain the changes. Attach a separate sheet if needed.
- Enter the most recently reported or adjusted amounts in Column A and corrected amounts in Column B. Use whole dollars.
- Complete the income, tax, and refund or balance-due calculations. Step 5 is for trusts only; estates go to Step 6.
- Attach the applicable schedules and supporting documents, then sign and date the return.
Mail the return to:
Illinois Department of Revenue
P.O. Box 19016
Springfield, IL 62794-9016
If you owe tax on Line 64, complete Form IL-1041-X-V. Make your check or money order payable to “Illinois Department of Revenue” and write your FEIN, tax year ending, and “IL-1041-X-V” on it. Attach the voucher and payment to the first page, and enter your payment amount at the top of Page 1.
Common mistakes
- Using the wrong year's form. This version cannot be used for tax years ending before December 31, 2024.
- Completing Schedule D out of order. Read the Schedule D instructions and complete Schedules K-1-T and K-1-T(3) first. Complete Schedule D, Section B, with all required beneficiary information before Section A. The form warns that not following these directions may delay processing or lead to requests for more information.
- Leaving out required information. The form warns that failure to provide required information could result in a penalty.
- Entering a negative federal net operating loss deduction on Line 2. The form states that this amount cannot be negative.
Questions people ask
What goes in Columns A and B?
Column A is for amounts as most recently reported or adjusted. Column B is for corrected amounts.
What if I am filing only to report an increased net loss?
Check the box in Step 1, Item G, if you are filing only to report an increased net loss on Line 29, Column B.
Do nonresidents need another schedule?
Yes. Nonresidents must complete Schedule NR. The form directs nonresidents to use Schedule NR, Line 51, for Line 27 and Schedule NR, Line 54, for Line 31.
Can I carry an overpayment forward instead of receiving it all as a refund?
The form lets you enter an amount to be credited forward on Line 62. Line 63 is the refund remaining after that amount is subtracted from the overpayment on Line 61. If the carryforward goes to a different FEIN, check the box and attach a detailed statement.
How will I know if I owe additional penalty or interest?
The form states that you will be sent a bill for any additional penalty and interest.