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Category: Illinois

Illinois Electronic Filing Information

An Addition to Income is required if you were born before January 2, 1936 and received a lump-sum distribution from a qualified plan during the tax year.  From your Federal Form 4972, enter the capital gain part of the lump-sum distribution reported on line 6 of Form 4972, and the taxable amount fromLine 10 of Form 4972. You may reduce this amount by any Federal estate tax on line 18.

CAUTION

If the amount on Line 10 of Form 4972 was computed using the rules for multiple recipients of a lump-sum distribution, include only your share of the taxable amount on line 10 less your share of any federal estate tax attributable ot the lump-sum distribution on line 18.

NOTE:

NO portion of the lump-sum distirbution may be reported as capital gain on the Wisconsin Schedule WD.