Does Schedule K-1-P need to be submitted to the Illinois Department of Revenue?

If you receive a Schedule K-1-P, Partner's or Shareholder's Share of Income, Deductions, Credits, and Recapture, from a partnership or an S corporation, then you must attach a copy of the Schedule K-1-P you received to your Illinois income tax return to report and claim any amounts you received. Please keep a copy of the Schedule K-1-P you received for your files.

If you are the partnership or S corporation that completes Schedule K-1-P you should send the appropriate Schedule K-1-P to each partner or shareholder along with a copy of Schedule K-1-P(2), Partner's and Shareholder's Instructions. You should maintain copies of these issued Schedule(s) K-1-P in your files. When you submit your partnership or S corporation return to the Illinois Department of Revenue, do not include copies of any Schedule(s) K-1-P you issued to your partners or shareholders. The partners or shareholders will report this information when they file their Illinois income tax returns.

If you have additional inquiries, you may submit them to the Questions, Comments, or Request form.